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Bourses remain in red during early afternoon session
Jun-02-2025

Indian markets continued to show downward trade in early afternoon session tracing weak cues from other Asian markets. Investors were cautious ahead of Monetary Policy Committee (MPC) meeting, which scheduled to be held on June 6. Sentiments remained downbeat as India’s manufacturing activity slowed down slightly in the month of May 2025 with HSBC India Manufacturing Purchasing Managers' Index (PMI) falling to three-month low of 57.6 from 58.2 in April 2025 amid softer growth of new orders and production. Sector wise, steel stocks remained under pressure after US President Donald Trump announced plans to double tariffs on foreign steel imports from 25 per cent to 50 per cent, with the new rate set to take effect on June 4. 

On the global front, Asian markets were trading mostly in red as concerned over global trade and Donald Trump’s tariffs. Besides, manufacturing sector in Japan continued to contract in May, albeit at a slower pace. That's up from 48.7 in April, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction. 

The BSE Sensex is currently trading at 81195.73, down by 255.28 points or 0.31% after trading in a range of 80654.26 and 81285.85. There were 11 stocks advancing against 19 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.30%, while Small cap index was up by 0.42%.

The top gaining sectoral indices on the BSE were Realty up by 2.07%, FMCG up by 0.62%, PSU up by 0.36%, Utilities up by 0.32% and Power was up by 0.23%, while Metal down by 0.90%, IT down by 0.63%, TECK down by 0.51%, Basic Materials down by 0.47% and Consumer Durables was down by 0.46% were the top losing indices on BSE.

The top gainers on the Sensex were Adani Ports up by 2.73%, Mahindra & Mahindra up by 1.60%, Hindustan Unilever up by 0.86%, Power Grid up by 0.78% and Eternal up by 0.73%. On the flip side, Ultratech Cement down by 1.35%, Tech Mahindra down by 1.33%, Tata Steel down by 1.18%, Titan Company down by 1.10% and HDFC Bank down by 0.91% were the top losers.

Meanwhile, Gross GST collections has grown 16.4 per cent in May to over Rs 2.01 trillion as compare to Rs 1.72 trillion in May 2024. It has remained above the Rs 2 trillion mark for the second month in a row. Meanwhile, April 2025 recorded the highest Gross Goods and Services Tax (GST) collection of Rs 2.37 trillion. According to government data, the total gross GST revenues stood at Rs 2,01,050 crore in May, 2025. The data showed an uptick of 13.7 per cent in gross revenues from domestic transactions touching Rs 1.50 trillion in May this year. Besides, the GST revenue from imports grew 25.2 per cent to Rs 51,266 crore, during the same period. 

According to the data, Gross Central GST revenues stood at Rs 35,434 crore, State GST revenues at Rs 43,902 crore and Integrated GST at about Rs 1.09 trillion, in the month of May. Meanwhile, revenues from Cess were at Rs 12,879 crore during the same period. The Total refunds issued during the month dipped 4 per cent to Rs 27,210 crore. Further, the Net GST mop-up stood at about Rs 1.74 trillion in May, exhibiting a year-on-year growth of 20.4 per cent.

In April 2025, the Gross GST collection increased 12 per cent to an all-time high of Rs 2.37 lakh crore. According to the government data, the total gross GST revenue was Rs 2.10 lakh crore in April of the current year. The data also showed an uptick of 10.7 per cent in GST revenue from the domestic transactions, reaching to about Rs 1.9 lakh crore. It suggested an increase of 20.8 per cent in revenue from imported goods, to Rs 46,913 crore.

The CNX Nifty is currently trading at 24674.35, down by 76.35 points or 0.31% after trading in a range of 24526.15 and 24717.55. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Adani Ports &Special up by 2.92%, Apollo Hospital up by 1.56%, Mahindra & Mahindra up by 1.56%, Tata Consumer up by 1.47% and Adani Enterprises up by 1.08%. On the flip side, Hero MotoCorp down by 2.07%, HDFC Life Insurance down by 1.74%, JSW Steel down by 1.60%, Bajaj Auto down by 1.56% and Ultratech Cement down by 1.46% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 494.43 points or 1.32% to 37,470.67, Taiwan Weighted lost 344.59 points or 1.64% to 21,002.71, Hang Seng declined 268.35 points or 1.15% to 23,021.42, Jakarta Composite plunged 110.7 points or 1.54% to 7,065.12 and Straits Times was down by 16.55 points or 0.42% to 3,878.06. On the flip side, KOSPI was up by 1.30 points or 0.05% to 2,698.97.
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