The key equity domestic indices ended with substantial gains today. The Nifty closed above 24,850 mark. The market maintained its positive momentum despite ongoing concerns over rising U.S. interest rates and an expanding federal deficit. Going forward, investors are expected to closely track bond yields, global economic indicators, and upcoming Q4 earnings results.
Barring pharma index all the sectoral indices on the NSE were ended in green with FMCG, private bank and IT shares advancing the most
As per provisional closing data, the barometer index, the S&P BSE Sensex, zoomed 769.09 points or 0.95% to 81,721.08. The Nifty 50 index jumped 243.45 points or 0.99% to 24,853.15.
In the broader market, the S&P BSE Mid-Cap index advanced 0.50% and the S&P BSE Small-Cap index rallied 0.45%.
The market breadth was positive. On the BSE, 2,346 shares rose and 1,604 shares fell. A total of 156 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 0.11% to 17.28.
Economy:
Global rating agency Fitch Ratings has raised India’s GDP growth potential by 0.2 percentage points to 6.4% over the next five years. The move comes following a sharper rise in the country’s labour force participation rate in recent years. Fitch highlighted that the revised estimate for India shows a stronger contribution from labour inputs, mainly total employment.
At the same time, the global rating agency has scaled down China’s growth projection by 0.3 percentage points to 4.3% from 4.6% earlier. The changes are part of Fitch’s revised assessment of potential GDP growth for 10 emerging market economies over the next five years.
India continues to remain the world’s fastest growing major economy and the only country expected to clock over 6% growth in the next two years, according to an IMF report released last month. The IMF has trimmed the growth forecast for over 120 countries.
IPO Update:
The initial public offer of Belrise Industries received bids for 6,27,52,33,094 shares as against 17,70,58,824 shares on offer, according to stock exchange data at 15:33 IST on 23 May 2025. The issue was subscribed 35.44 times.
The issue opened for bidding on 21 May 2025 and it will close on 23 May 2025. The price band of the IPO is fixed between Rs 85 and 90 per share. An investor can bid for a minimum of 166 equity shares and in multiples thereof.
Buzzing Index:
The Nifty FMCG index jumped 1.63% to 56,502.05. The index declined in the past trading session.
Varun Beverages (up 4.16%), ITC (up 2.37%), Nestle India (up 2.26%), United Breweries (up 1.58%), Hindustan Unilever (up 1.24%), Tata Consumer Products (up 1.22%), Godrej Consumer Products (up 1.09%), Dabur India (up 1.04%), Britannia Industries (up 0.93%) and United Spirits (up 0.73%) advanced.
ITC jumped 2.37% after the company’s standalone net profit spiked 289.65% to Rs 19,561.57 crore in Q4 FY25 as against Rs 5,020.20 crore posted in Q4 FY24. Revenue from operations (excluding excise duty) was at Rs 17,248.21 crore in the March quarter FY25, up 9.26% year on year.
Stocks in Spotlight:
Grasim Industries shed 0.60%. The company’s consolidated net profit rose 9.20% to Rs 1,495.90 crore in Q4 FY25 as against Rs 1,369.82 crore posted in Q4 FY24. Revenue from operations increased 17.33% YoY to Rs 44,267.26 crore in the fourth quarter of FY25, driven by superior performance in cement, chemicals and financial services businesses.
Sun Pharmaceutical Industries declined 1.84% after the company’s consolidated net profit declined 19% to Rs 2,149.88 crore, despite of 8.5% increase in revenue from operations to Rs 12,815.58 crore in Q4 FY25 over Q4 FY24.
Metro Brands (MBL) added 1.59%. The company has reported 38.7% fall in consolidated net profit to Rs 95 crore despite a 10.3% increase in revenue to Rs 643 crore in Q4 FY25 as compared with Q4 FY24.
MTAR Technologies shed 0.46%. The company reported a 181.72% year-on-year (YoY) surge in consolidated net profit to Rs 13.72 crore for the quarter ended March 2025 (Q4 FY25), compared to Rs 4.87 crore in the corresponding quarter last year. The sharp rise in profit was supported by a 26.57% increase in revenue from operations, which stood at Rs 179.24 crore.
GMR Airports Infrastructure declined 2.21% after the company’s consolidated net loss widened to Rs 252.66 crore in Q4 FY25 as against a net loss of Rs 167.58 crore reported in Q4 FY24. Revenue from operations jumped 17.02% year on year (YoY) to Rs 2,863.34 crore in the quarter ended 31 March 2025.
Bondada Engineering hit an upper circuit of 10% after the company announced that it has secured a major government order worth Rs 9,000 crore from the Energy Department of the Government of Andhra Pradesh.
Devyani International shed 0.94%. The company reported consolidated net loss widened to Rs 14.74 crore in Q4 FY25 as against a net loss of Rs 7.47 crore reported in Q4 FY24. However, revenue from operations increased 15.80% year-over-year to Rs 1,212.59 crore in the March 2025 quarter.
Global Markets:
Most European shares advanced on Friday after U.K. retail sales rose by an estimated 1.2% in April on a monthly basis, according to data from the U.K.'s Office for National Statistics.
Asian stocks ended mixed as investors evaluated fresh economic data and monitored diplomatic signals. A call between Chinese Vice Foreign Minister Ma Zhaoxu and U.S. Deputy Secretary Christopher Landau led to an agreement to maintain communication, according to a statement from China’s Foreign Ministry. The two officials discussed key bilateral issues, though no further details were provided.
In Japan, the core consumer price index (CPI), excluding fresh food, rose 3.5% year-on-year in April—up from 3.2% in March and marking the highest rate since early 2023. A separate core CPI measure, which strips out both fresh food and energy and is closely watched by the Bank of Japan, rose to 3% from 2.9%, remaining above the central bank's 2% target. Headline inflation held steady at 3.6%.
Investors are also reviewing South Korea’s producer price index (PPI) for April and New Zealand’s Q1 retail sales figures.
In the U.S., markets closed mixed Thursday. The Dow Jones Industrial Average was nearly flat, falling 1.35 points. The S&P 500 edged down 0.04%, while the Nasdaq Composite rose 0.28%. Concerns about rising interest rates and the growing federal deficit weighed on sentiment. The 30-year Treasury yield climbed to its highest level since 2023 after lawmakers passed a bill that markets believe could widen the deficit.
Meanwhile, the U.S. S&P Global Composite PMI rose to 52.1 in May from 50.6 in April, indicating stronger private-sector activity. The Manufacturing PMI climbed to 52.3 from 50.2, and the Services PMI rose to 52.3 from 50.8.