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EQUITY
Key gauges end in green amid positive global cues
May-29-2025

Ending a two-day losing streak, Indian equity benchmarks ended in green on Thursday, amid positive global sentiment after a US federal court struck down President Donald Trump’s reciprocal tax policy. A late-session surge helped key indices to close on a positive note despite a volatile day. Market participants now await India’s GDP data due later this week, along with US PCE inflation data, for further direction.

Some of the important factors in today’s trade:

India's industrial output growth slows to 2.7% in April: The data showed India's industrial production growth slowed to 2.7 per cent in April 2025 due to poor performance of manufacturing, mining and power sectors. The factory output, measured in terms of the Index of Industrial Production (IIP), rose by 5.2 per cent in April 2024.

India's foodgrain output forecast raised to record 353.95 million tonnes: The government has revised upwards its foodgrain production estimate for the 2024-25 crop year to a record 353.95 million tonnes, with wheat output alone projected at 117.50 million tonnes, as the country posted bumper harvests across key crops.  

Rupee declines against US dollar: Indian rupee declined against the US dollar due to a strong American currency against major crosses overseas and rising global crude oil prices. However, positive domestic equity market and foreign fund inflows supported the local currency and restricted its slide.

Power stocks in focus: The rating agency ICRA is eyeing country’s power demand to grow in the range of 6-6.5 per cent over the next five years, with the increasing adoption of electric vehicles and green hydrogen segments along with strengthening of data centre capacity.

Upbeat global sentiment: European markets were trading mostly in green after a U.S. federal court ruled that President Donald Trump had overstepped his authority by imposing the April 2 across-the-board duties on imports from U.S. trade partners. Asian markets settled mostly higher on Thursday with tech stocks surging as Nvidia posted first-quarter earnings and revenue ahead of estimates, helping ease fears of a China slowdown. 

Finally, the BSE Sensex rose 320.70 points or 0.39% to 81,633.02 and the CNX Nifty was up by 81.15 points or 0.33% to 24,833.60.     

The BSE Sensex touched high and low of 81,816.89 and 81,106.98 respectively. There were 24 stocks advancing against 6 stocks declining on the index. 

The broader indices ended in green; the BSE Mid cap index rose 0.48%, while Small cap index was up by 0.39%.

The top gaining sectoral indices on the BSE were Realty up by 1.21%, Metal up by 0.89%, IT up by 0.71%, TECK up by 0.65% and Consumer Discretionary up by 0.55%, while FMCG down by 0.05% was the lone losing index on BSE.

The top gainers on the Sensex were IndusInd Bank up by 2.41%, Sun Pharma up by 2.04%, Adani Ports &SEZ up by 1.92%, Eternal up by 1.85% and Tata Steel up by 1.27%. On the flip side, Bajaj Finance down by 0.72%, Bajaj Finserv down by 0.51%, ITC down by 0.32%, Asian Paints down by 0.24% and NTPC down by 0.21% were the top losers. 

Meanwhile, Consumer Affairs Secretary Nidhi Khare has asked micro, small and medium enterprises (MSMEs) to comply with voluntary as well as mandatory quality standards while manufacturing products and urged them to be more proactive in sharing problems and seeking solutions. She noted that India is poised to become the third largest economy in the world, and the MSMEs will have a major role to play in achieving this.

She said MSMEs need to be more proactive in sharing their problems and asked the industry to demand new standards as well as participate in formulation of these quality norms. She highlighted that the government in the past few years have taken various steps to ensure that people get quality products. Recently, Rs 78 crore has been approved to strengthen existing testing labs and set up new ones.

She stated ‘Ultimately, any nation which grows has to ensure credibility of its goods and services. There cannot be any abstinence, or there cannot be any free passes to the concern of quality.’ Further, she pointed out that there is hardly any participation from the industry whenever standards are being formulated.

She stated ‘academicians, the domain expert…are actually bringing standards, whereas standards should have been for the industry and by the industry.’ She asked the industry to demand time-bound formulation of standards and assured that the government and its departments would do that. Besides, she said the industry players can approach the ministry for support during any difficulties, whether it is the formulation of standards or setting up of a testing facility. She added ‘We will set it up. We do not want you to suffer.’

The CNX Nifty traded in a range of 24,892.60 and 24,677.30. There were 37 stocks advancing against 13 stocks declining on the index.

The top gainers on Nifty were Indusind Bank up by 2.47%, Sun Pharma up by 1.99%, Eternal up by 1.79%, Adani Ports &SEZ up by 1.74% and Trent up by 1.65%. On the flip side, HDFC Life Insurance down by 1.07%, Bharat Electronics down by 0.81%, Tata Consumer Products down by 0.68%, JIO Financial Services down by 0.67% and Bajaj Finance down by 0.62% were the top losers.

European markets were trading mostly in green; France’s CAC rose 51.17 points or 0.66% to 7,839.27 and Germany’s DAX gained 77.01 points or 0.32% to 24,115.20, while UK’s FTSE 100 decreased 1.77 points or 0.02% to 8,724.24. 

Asian markets settled mostly higher on Thursday after a US federal trade court blocked President Donald Trump's 'Liberation Day' import tariffs from going into effect. Chinese shares gained, despite reports that the US government has imposed new export restrictions on a range of goods shipped to China. Japanese shares rose as a weaker yen lifted exporters. Seoul shares rallied, led by gains in tech shares following strong earnings from US chip giant Nvidia Corp. Meanwhile, the Bank of Korea cut its interest rates for the fourth time in the current easing cycle and flagged more cuts ahead amid heightened political uncertainty in the country and renewed concerns over Trump's sweeping tariffs.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,363.45

23.52

0.70

Hang Seng

23,573.38

315.07

1.34

Jakarta Composite

--

--

--

KLSE Composite

1,518.98

-4.50

-0.30

Nikkei 225

38,432.98

710.58

1.85

Straits Times

3,916.84

4.92

0.13

KOSPI Composite

2,720.64

50.49

1.86

Taiwan Weighted

21,347.30

-10.42

-0.05
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