The domestic equity benchmarks ended with minor losses today, extending their losing streak to a second session as investor sentiment remained cautious despite firm cues from Asian peers. Concerns over rising US Treasury yields and escalating trade tensions between the US and the EU weighed on the domestic market.
The Nifty closed below the 24,800 level. Media and PSU bank stocks advanced, while FMCG, auto, and metal shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex, slipped 239.31 points or 0.29% to 81,312.32. The Nifty 50 index fell 73.75 points or 0.30% to 24,752.45. In the past two trading session, the Sensex and Nifty declined by 1.05% and 1.13%, respectively.
In the broader market, the S&P BSE Mid-Cap index shed 0.22% and the S&P BSE Small-Cap index added 0.50%.
The market breadth was positive. On the BSE, 2,014 shares rose and 1,921 shares fell. A total of 160 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 2.79% to 18.02.
Economy:
Foreign direct investment in India fell 24.5% year-on-year to $9.34 billion in the January-March quarter of 2024-25 but grew 13% at $50 billion during the entire previous financial year, according to the government data released on Tuesday. FDI inflows during January-March 2023-24 stood at $12.38 billion. These were $44.42 billion in the full 2023-24 fiscal. During the October-December quarter of 2024-25 also, the inflows were contracted by 5.6% year-on-year to $10.9 billion due to global economic uncertainties.
IMD Forecasts:
The India Meteorological Department (IMD), under the Ministry of Earth Sciences, has issued its updated Long-Range Forecast for the 2025 Southwest Monsoon season (June–September) along with the Monthly Rainfall and Temperature Outlook for June 2025. According to the forecast, the seasonal rainfall across the country as a whole is likely to be 106% of the Long Period Average (LPA), with a model error of ±4%, indicating a high probability of above-normal rainfall during the monsoon season.
Regionally, the rainfall is most likely to be above normal over Central India and the South Peninsular region, while Northwest India is expected to experience normal rainfall levels (ranging between 92-108% of LPA). In contrast, Northeast India is likely to receive below-normal rainfall (<94% of LPA).
IPO Update:
The initial public offer (IPO) of Scoda Tubes received bids for 2,00,33,000 shares as against 1,18,46,169 shares on offer, according to stock exchange data at 15:20 IST on Wednesday (27 May 2025). The issue was subscribed 1.69 times.
The issue opened for bidding on Wednesday (28 May 2025) and it will close on Friday (30 May 2025). The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof.
The initial public offer (IPO) of Schloss Bangalore received bids for 19,91,43,270 shares as against 4,66,10,169 shares on offer, according to stock exchange data at 15:20 IST on Wednesday (28 May 2025). The issue was subscribed 4.27 times.
The issue opened for bidding on Monday (26 May 2025) and it will close on Wednesday (28 May 2025). The price band of the IPO is fixed between Rs 413 and 435 per share. An investor can bid for a minimum of 34 equity shares and in multiples thereof.
The initial public offer (IPO) of Aegis Vopak Terminals received bids for 13,85,23,896 shares as against 6,90,58,296 shares on offer, according to stock exchange data at 15:20 IST on Wednesday (28 May 2025). The issue was subscribed 2.01 times.
The issue opened for bidding on Monday (26 May 2025) and it will close on Wednesday (28 May 2025). The price band of the IPO is fixed between Rs 223 and 235 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof.
The initial public offer (IPO) of Prostarm Info Systems received bids for 12,02,85,644 shares as against 1,12,00,000 shares on offer, according to stock exchange data at 15:20 IST on Wednesday (27 May 2025). The issue was subscribed 10.74 times.
The issue opened for bidding on Tuesday (27 May 2025) and it will close on Thursday (29 May 2025). The price band of the IPO is fixed between Rs 223 and 235 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof.
New Listing:
Shares of Belrise Industries settled at Rs 97.10 on the BSE, representing a premium of 7.89% as compared with the issue price of Rs 90.
The scrip was listed at Rs 98.50, exhibiting a premium of 9.44% to the issue price.
The stock has hit a high of 103.20 and a low of 91.36. On the BSE, over 201.50 lakh shares of the company were traded in the counter.
Buzzing Index:
The Nifty FMCG fell 1.49% to 55,703.85. The index slipped 2.22% in previous two consecutive trading sessions.
ITC (down 3.16%), Emami (down 1.83%), Nestle India (down 1.76%), Tata Consumer Products (down 1.48%) and Godrej Consumer Products (down 1.05%), Hindustan Unilever (down 0.97%), United Spirits (down 0.75%), Varun Beverages (down 0.61%), Britannia Industries (down 0.47%) and Colgate-Palmolive (India) (down 0.4%) down.
On the other hand, United Breweries (up 1.34%) ,Radico Khaitan (up 0.37%) and Marico (up 0.34%) added.
Stocks in Spotlight:
Triveni Engineering & Industries surged 6.36% after the company’s consolidated net profit rose 13.63% year-on-year (YoY) to Rs 183 crore in Q4 FY25, compared to Rs 161.04 crore in Q4 FY24. Revenue from operations (excluding excise duty) grew 25.12% YoY to Rs 1,629.29 crore during the quarter ended 31 March 2025.
Redtape tanked 6.90% after the company's consolidated net profit declined 43.25% to Rs 41.47 crore while net sales declined 23.57% to Rs 505.24 crore in Q4 March 2025 over Q3 December 2024.
Life Insurance Corporation of India surged 7.26% after the company reported 38.15% jump in standalone net profit to Rs 19,012.79 crore while total income fell 3.53% to Rs 243,386.15 crore in Q4 March 2025 over Q4 March 2024.
3M India declined 4.22% after the company's net profit fell 60% to Rs 71 crore, while revenue from operations rose 9% to Rs 1,198 crore in Q4 March 2025 over Q4 March 2024.
DCX Systems tanked 7.07% after the company’s consolidated net profit fell 37.2% to Rs 20.70 crore on 26.3% fall in revenue from operations to Rs 549.96 crore in Q4 FY25 over Q4 FY24.
Apollo Micro Systems surged 14.92% after the company announced it has received an export order worth $13,366,500 (approximately Rs 113.81 crore) in the ordinary course of business.
ITI frozen at its upper limit of 10% after the company’s consolidated net loss narrowed to Rs 4.38 crore in Q4 FY25, compared with a net loss of Rs 238.82 crore in Q4 FY24. Revenue from operations jumped 73.9% YoY to Rs 1,045.70 crore in Q4 FY25.
Medplus Health Services added 1.24% after the company’s consolidated net profit jumped 53.7% to Rs 51.34 crore on 1.3% increase in revenue from operations to Rs 1509.61 crore in Q4 FY25 over Q4 FY24.
Techno Electric & Engineering Company soared 13.28% after the company’s consolidated net profit jumped 73.7% to Rs 134.65 crore on 85.6% increase in revenue from operations to Rs 815.79 crore in Q4 FY25 over Q4 FY24.
Global Markets:
European shares tumbled on Wednesday as investors stayed cautious ahead of a batch of regional economic releases, including final French GDP figures, employment data from France and Germany, and an update on Turkish economic confidence.
German import prices fell by 0.4% year-on-year in April, according to data released by the Federal Statistical Office on Wednesday.
In March, import prices had risen by 2.1%, marking a significant contrast to the April data. The drop highlights ongoing challenges in global trade dynamics, which are being closely monitored by market participants.
Most Asian stocks ended lower, tracking overnight gains on Wall Street after investor sentiment was lifted by U.S. President Donald Trump’s decision to extend the deadline for imposing a 50% tariff on European Union imports to July 9.
Market participants are now awaiting key earnings results from Nvidia and the release of the minutes from the U.S. Federal Reserve’s May policy meeting, both scheduled for Wednesday afternoon U.S. time.
Australia's inflation held steady at 2.4% in April, no change since February, while New Zealand's central bank surprised with a rate cut, trimming the benchmark to 3.25%.
Across the Pacific, Wall Street lit up on Tuesday. A decision by Trump to delay slapping 50% tariffs on the EU helped revive risk appetite, and investor mood got another lift from a sharp jump in US consumer confidence. After five straight months of decline, confidence snapped back hard in May.
The Dow Jones Industrial Average climbed 1.78%, the S&P 500 jumped 2.05%, and the Nasdaq surged 2.47%, powered by tech heavyweights like Tesla. All three indexes ended a four-day losing streak in style.
This market rebound is also riding on hopes of easing trade tensions between the US and China, as the Trump administration works to ink deals with multiple key economies.
All eyes are now on NVIDIA, which is set to report Q1 earnings after the closing bell on Wednesday. Analysts are betting on a strong showing. The chipmaker's stock rallied 3.2% during the session and held steady in after-hours trading.
Meanwhile, the Conference Board reported that US consumer confidence soared in May, with the index jumping to 98 from April's 85.7, a level not seen since May 2020.