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Firm trade continues over Dalal Street
Jun-06-2025

A firm trade continued over the Dalal Street in early afternoon session, with both Sensex and Nifty holding strong gains, amid strong rally in realty and banking stocks following the RBI’s 50 bps repo rate cut to 5.50%. Sentiments also remained optimistic, as Union Minister Sarbananda Sonowal has said that ‘Under the able and visionary leadership of Prime Minister Narendra Modi, India is moving decisively toward the goals of Viksit Bharat and Atmanirbhar Bharat. These goals envisage India as a modern, self-reliant, inclusive, and globally engaged economy. In this journey, the maritime sector is central - not just as a driver of growth, but as an enabler of resilience, sustainability, and strategic connectivity.’

On the global front, Asian markets were trading mostly in green, even after Japan's leading index decreased more than expected in April to the lowest level in nearly five years. The preliminary data from the Cabinet Office showed that the leading index, which measures future economic activity, dropped to 103.4 in April from 107.6 in March. The score was forecast to fall to 104.0. Further, the latest reading was the lowest score since August 2020, when it was 99.9.

The BSE Sensex is currently trading at 82115.75, up by 673.71 points or 0.83% after trading in a range of 81140.11 and 82299.89. There were 23 stocks advancing against 7 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose by 0.57%, while Small cap index was up by 0.46%.

The top gaining sectoral indices on the BSE were Realty up by 4.11%, Bankex up by 1.22%, Auto up by 1.16%, Consumer Disc up by 1.08% and Metal up by 1.04%, while Capital Goods down by 0.25%, Industrials down by 0.13% and FMCG down by 0.13% were the few losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 5.40%, Axis Bank up by 3.40%, Bajaj Finserv up by 3.32%, Maruti Suzuki up by 2.94% and Eternal up by 2.01%. On the flip side, Bharat Electronics down by 1.09%, Tata Steel down by 1.08%, Sun Pharma down by 0.40%, Bharti Airtel down by 0.17% and Tata Motors down by 0.08% were the top losers.

Meanwhile, Commerce and Industry Minister Piyush Goyal has held three meetings within a short span of 35 days with the European Commissioner for Trade Maros Sefcovic with an aim to give an impetus to the reposed negotiations for a free trade agreement (FTA). The first and the second meetings between Goyal and Sefcovic were held on May 1, 2025 and May 23, 2025 in Brussels, while the third meeting concluded on June 2, 2025 in Paris.  

The minister said that India has already signed similar agreements with four-European nation bloc EFTA and the UK. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Now, India is in the process of concluding the negotiations with the 27-nation bloc European Union.

Goyal also said he is working with Italy and the EU for a ‘very’ strong and mutually beneficial FTA. He said ‘we are making rapid progress on the very vibrant FTA which would open opportunities for businesses of both the sides.’ On India-Italy bilateral trade, he said it's ‘low and sub-optimal’ and both sides need to work to boost the two-way commerce. Currently it stands around $15 billion in goods. He added that huge potential is there to boost bilateral trade.

The CNX Nifty is currently trading at 24971.40, up by 220.50 points or 0.89% after trading in a range of 24671.45 and 25029.50. There were 38 stocks advancing against 12 stocks declining on the index.

The top gainers on Nifty were Shriram Finance up by 5.66%, Bajaj Finance up by 5.36%, JSW Steel up by 3.81%, Bajaj Finserv up by 3.33% and Axis Bank up by 3.32%. On the flip side, Tata Steel down by 1.06%, Bharat Electronics down by 1.02%, HDFC Life Insurance down by 0.61%, Sun Pharma down by 0.42% and Apollo Hospital down by 0.20% were the top losers.

Asian markets were trading mostly in green; Shanghai Composite strengthened 0.64 points or 0.02% to 3,384.74, Straits Times rose 11.4 points or 0.29% to 3,929.09 and Nikkei 225 surged 187.12 points or 0.5% to 37,741.61, while Taiwan Weighted lost 13.77 points or 0.06% to 21,660.66 and Hang Seng declined 48.66 points or 0.2% to 23,858.31.
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