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Bourses remain lower in early afternoon session
May-30-2025

Indian markets continued their downward trade in early afternoon session, as traders were cautious ahead of gross domestic product (GDP) data, which is scheduled to be release later in a day.  Investors ignored Union Minister for Commerce & Industry Piyush Goyal’s statement that India to remain fastest-growing large economy in the world for next 30 years. He said ‘Over the past 20-25 years, Indian companies have delivered nearly 20% CAGR returns, making India a compulsive investment destination. FDI inflows are consistently breaking records. We are back on track on the growth trajectory, working through international trading relations. 

On the global front, all Asian markets were trading lower as investors watched the judicial developments surrounding U.S. President Donald Trump's ‘reciprocal’ tariffs. Back home, gems and jewellery sector remained in limelight as credit rating agency ICRA in its latest report has anticipated that domestic gold jewellery consumption by value to continue to exhibit double-digit growth in FY26, with an estimated increase of 12-14%, notwithstanding a projected decline in volumes.

The BSE Sensex is currently trading at 81359.04, down by 273.98 points or 0.34% after trading in a range of 81286.45 and 81698.21. There were 5 stocks advancing against 25 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index declined 0.36%, while Small cap index was up by 0.16%.

The only gaining sectoral indices on the BSE were Capital Goods up by 0.80% and Industrials was up by 0.36%, while Metal down by 1.29%, Utilities down by 1.01%, Auto down by 0.86%, Basic Materials down by 0.80% and IT was down by 0.69% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 3.13%, Larsen & Toubro up by 0.53%, Bajaj Finserv up by 0.45%, Bharat Electronics up by 0.10% and HDFC Bank up by 0.07%. On the flip side, NTPC down by 1.28%, Tata Motors down by 1.26%, Infosys down by 1.25%, Asian Paints down by 1.22% and Mahindra & Mahindra down by 1.07% were the top losers.

Meanwhile, highlighting India as an attractive investment destination, Union Minister for Commerce & Industry Piyush Goyal has said that India to remain fastest-growing large economy in the world for next 30 years. He said ‘Over the past 20-25 years, Indian companies have delivered nearly 20% CAGR returns, making India a compulsive investment destination. FDI inflows are consistently breaking records. We are back on track on the growth trajectory, working through international trading relations.

On India’s economic trajectory, the minister stated that the country has maintained sustained growth of 6-7% and hopes to push it to 8% at constant prices. He said ‘Even amidst international upheavals, we are among the better-performing emerging markets. Today, India holds the 4th largest foreign exchange reserves in the world at about $690 billion. Our inflation has remained below 4% for the last three months. The Reserve Bank has done a commendable job balancing liquidity and currency management.’

Commerce Minister also cited progress on various Free Trade Agreements (FTAs), including those with the UAE, Australia, the UK, the four EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland), and the ongoing bilateral trade agreement negotiations with the USA. Goyal expressed pride at India’s continued economic progress and stated that the IMF has projected that by 2027, India will be the world’s third largest GDP. He added that despite global volatility, uncertainty and complexity, India remains the fastest-growing economy and continues to power global growth through growth in India.

The CNX Nifty is currently trading at 24751.20, down by 82.40 points or 0.33% after trading in a range of 24717.40 and 24863.95. There were 10 stocks advancing against 40 stocks declining on the index.

The top gainers on Nifty were Eternal up by 3.20%, Apollo Hospital up by 0.77%, Larsen & Toubro up by 0.53%, Cipla up by 0.48% and Bajaj Finserv up by 0.41%. On the flip side, Bajaj Auto down by 2.47%, Hindalco down by 2.04%, NTPC down by 1.33%, Shriram Finance down by 1.29% and Tata Motors down by 1.26% were the top losers.

All Asian markets were trading lower; Nikkei 225 slipped 467.88 points or 1.23% to 37,965.10, Hang Seng declined 335.25 points or 1.42% to 23,238.13, KOSPI dropped 22.97 points or 0.85% to 2,697.67, Straits Times fell 10.1 points or 0.26% to 3,906.74 and Shanghai Composite was down by 10.1 points or 0.3% to 3,353.35.
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