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Indian markets continue to trade higher in late afternoon session
Jun-05-2025

Indian equity markets gave up some gains, but continue to trade higher in late afternoon session. Market sentiments remained optimistic ahead Reserve Bank’s monitory policy announcement, as the market participants are of view that the central bank will cut interest rates by 25 basis points for the third consecutive time. Besides, FII’s yesterday’s buying has kept the trading sentiment upbeat. The FIIs were the net buyer on yesterday’s session with net buying of Rs 1,076.18 crore. Moreover, while recent U.S. economic data raised concerns about the strength of the economy, it has fuelled optimism about the outlook for interest rates.

On the global front, Asian equity markets were trading mostly in green as investors digested a pair of disappointing reports on the U.S. economy and looked ahead to key non-farm payrolls data on Friday for direction. European equity markets were trading higher ahead of an expected rate cut from the European Central Bank later in the day.

Back home, significant strength has been seen in Realty stocks, with BSE Realty climbing 150.16 points or 1.90% to 7,719.07 amid optimism over interest rate cut.  

The BSE Sensex is currently trading at 81333.22, up by 334.97 points or 0.41% after trading in a range of 80983.73 and 81911.13. There were 17 stocks advancing against 13 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.29%, while Small cap index was up by 0.60%.

The top gaining sectoral indices on the BSE were Realty up by 1.90%, Healthcare up by 0.78%, Consumer Discretionary up by 0.68%, Industrials up by 0.62% and Capital Goods up by 0.50%, while Oil & Gas down by 0.20%, Auto down by 0.17%, Consumer Durables down by 0.16% and Metal down by 0.02% were the few losing indices on BSE.

The top gainers on the Sensex were Eternal up by 4.75%, Trent up by 2.93%, Power Grid Corporation of India up by 2.01%, ICICI Bank up by 1.46% and Reliance Industries up by 1.44%. On the flip side, Bajaj Finserv down by 1.02%, Axis Bank down by 1.00%, Asian Paints down by 0.55%, Maruti Suzuki down by 0.52% and Bajaj Finance down by 0.48% were the top losers.

Meanwhile, the Indian Stainless Steel Development Association (ISSDA) President Rajamani Krishnamurti has said that the demand for stainless steel in the country is expected to grow in the range of 7-8 per cent Year-on-Year (Y-o-Y) over the next three years. It said the overall consumption of stainless steel reached 4.8 million tonnes in FY25, registering a Y-O-Y growth of about 8 per cent. He added that the per capita steel consumption in India stands at around 3.4 kg as against the world average of over 6 kg. 

Krishnamurti said low consumption as against the world average provides a great opportunity to the domestic industry as the government's focus remains on infrastructure development in the country. The areas where opportunities are at the upcoming railways, tunnel projects, ports, airports, roads, highways, and other similar projects. The government has significantly boosted its capex. The capex to GDP ratio surged to 3.3 per cent for FY24. 

He said the construction market in India is expected to reach $1.42 trillion by 2027, expanding at a CAGR of 17.26 per cent up to 2027. Green hydrogen is also a new area where stainless steel will find application. Talking on India's position, he said the country is the second largest consumer of stainless steel in the world, and its melt production is the third largest in the world after China and Indonesia. On the properties of stainless steel, he said, it is safe for infrastructure projects because of its strength, zero maintenance and life cycle cost, and it is recyclable.

The CNX Nifty is currently trading at 24741.95, up by 121.75 points or 0.49% after trading in a range of 24613.10 and 24899.85. There were 26 stocks advancing against 24 stocks declining on the index.

The top gainers on Nifty were Eternal up by 4.71%, Trent up by 2.94%, Dr. Reddy's Laboratories up by 2.91%, Power Grid Corporation of India up by 2.03% and Shriram Finance up by 1.75%. On the flip side, Indusind Bank down by 1.38%, Tata Consumer Products down by 1.17%, Bajaj Finserv down by 1.03%, Axis Bank down by 1.00% and Bajaj Finance down by 0.54% were the top losers.

Asian markets are trading mostly in green; Hang Seng advanced 252.94 points or 1.06% to 23,906.97, Jakarta Composite gained 35.89 points or 0.51% to 7,104.93, KOSPI increased 41.21 points or 1.47% to 2,812.05, Shanghai Composite strengthened 7.9 points or 0.23% to 3,384.10, Straits Times rose 9.57 points or 0.25% to 3,913.45 and Taiwan Weighted added 56.34 points or 0.26% to 21,674.43, while Nikkei 225 slipped 192.96 points or 0.51% to 37,554.49.

European markets were trading higher; UK’s FTSE 100 increased 9.21 points or 0.1% to 8,810.50, France’s CAC rose 25.69 points or 0.33% to 7,830.36 and Germany’s DAX gained 101.83 points or 0.42% to 24,378.31.
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