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Markets give up some early gains; continue to trade above neutral lines
May-21-2025

Indian equity benchmarks gave up some of earlier gains, but continued to trade in positive terrain. Investors rekindled optimism after broader markets traded positive with Realty and Capital Goods stocks leading the charge. Besides, sentiments remained upbeat after Moody's Ratings in its latest report has indicated that India is well-positioned to deal with the negative effects of US tariffs and global trade disruptions as domestic growth drivers and low dependence on exports anchor the economy.  It also noted that government initiatives to boost private consumption, expand manufacturing capacity and increase infrastructure spending will help offset the weakening outlook for global demand. However, traders remained cautious amid rising concerns of Covid-19 cases in select states of India.

On the global front, Asian equity markets were trading mostly in green with Japanese markets underperforming as the yen continued to strengthen on Bank of Japan’s rate hike bets and data showed Japan's export growth continued to decelerate for the second consecutive month. European equity markets were trading lower amid US fiscal concerns and geopolitical tensions.

The BSE Sensex is currently trading at 81590.10, up by 403.66 points or 0.50% after trading in a range of 81237.06 and 82021.64. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index surged 0.78%, while Small cap index was up by 0.24%.

The top gaining sectoral indices on the BSE were Capital Goods up by 1.41%, Realty up by 1.40%, Industrials up by 1.08%, Telecom up by 1.07% and PSU up by 0.96%, while Consumer Durables down by 0.61% was the lone losing index on BSE.

The top gainers on the Sensex were Bajaj Finserv up by 1.78%, Tech Mahindra up by 1.65%, Sun Pharma Industries up by 1.62%, Tata Steel up by 1.45% and Bajaj Finance up by 1.27%. On the flip side, Indusind Bank down by 1.85%, Kotak Mahindra Bank down by 0.59%, Adani Ports down by 0.25%, Maruti Suzuki down by 0.24% and ITC down by 0.24% were the top losers.

Meanwhile, the Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional payroll data’ report has showed that 14.58 lakh net members have been added in the month of March 2025, an increase of 1.15% compared to March 2024. This growth signifies increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives.

As per the payroll data, EPFO enrolled around 7.54 lakh new subscribers in March 2025, representing a 2.03% increase over February 2025 and 0.98% year over year growth compared to the previous year in March 2024. The data report further noted that around 2.08 lakh new female subscribers joined EPFO in March 2025, an increase of 0.18% compared to the previous month of February 2025. It also depicts year-over-year growth of 4.18% compared to March 2024.

State-wise, the top five states/ UTs constitute around 59.67% of net payroll addition, adding a total around 8.70 lakh net payroll during the month. Of all the states, Maharashtra is leading by adding 20.24% of net payroll during the month. The states/UTs of Maharashtra, Tamil Nadu, Karnataka, Haryana, Gujarat, Delhi, Uttar Pradesh and Telangana individually added more than 5% of the total net payroll during the month.

The CNX Nifty is currently trading at 24808.80, up by 124.90 points or 0.51% after trading in a range of 24685.35 and 24946.20. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were Bharat Electronics up by 4.73%, Cipla up by 1.71%, Bajaj Finserv up by 1.69%, Tech Mahindra up by 1.64% and Sun Pharma Industries up by 1.52%. On the flip side, Indusind Bank down by 1.87%, JSW Steel down by 1.17%, Grasim Industries down by 0.75%, Kotak Mahindra Bank down by 0.69% and Coal India down by 0.67% were the top losers.

Asian markets are trading mostly in green; Hang Seng advanced 146.3 points or 0.61% to 23,827.78, Jakarta Composite gained 39.66 points or 0.56% to 7,134.26, Shanghai Composite strengthened 7.09 points or 0.21% to 3,387.57, Taiwan Weighted added 277.88 points or 1.27% to 21,803.91 and KOSPI increased 23.78 points or 0.91% to 2,625.58, while Straits Times fell 1.08 points or 0.03% to 3,881.42 and Nikkei 225 slipped 230.51 points or 0.62% to 37,298.98.

European markets were trading lower; UK’s FTSE 100 decreased 1.28 points or 0.01% to 8,779.84, France’s CAC fell 47.26 points or 0.6% to 7,895.16 and Germany’s DAX lost 70.82 points or 0.29% to 23,965.29.
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