Indian Equities End Higher After Volatile Session: Sensex closes at 80,501.99 and Nifty closes at 24,346.70

Indian equity benchmarks concluded Friday's trading session in positive territory. The Sensex ended 260 points higher after volatile trade at 80,501.99, while the Nifty 50 closed 12.50 points higher above the 24,300 mark at 24,346.70.

Sectoral Performance Mixed Amidst Swings, Nifty Consumer Durables biggest loser

Sectoral performance was varied throughout the day. While gains were broad-based in early trade, later updates showed Metal stocks (-0.74%) losing steam. Nifty Consumer Durables saw the biggest drawdown (-1.39%) amongst all the sectors. Conversely, the Oil & Gas index (0.73%) and Nifty IT index saw gains of 0.27%, boosted by strong global tech earnings; Coforge and Persistent Systems were among the top gainers in this sector. The Auto Sector saw decline of (-0.10%), under this, Ashok Leyland and Bajaj Auto reported declines in April sales, while TVS Motor saw strong sales growth. Despite the positive close for the broader indices, the advance-decline ratio remained in favour of sellers for much of the day. 

Global Cues and Currency Movements

Global markets largely supported the positive sentiment, driven by signs of easing Sino-US trade tensions. S&P 500 futures, Japan's Topix, Australia's S&P/ASX 200, Hong Kong's Hang Seng, and Euro Stoxx 50 futures all registered gains at various points. Japan's Nikkei notably marked a 7-day winning streak.

On the currency front, the Indian rupee strengthened to trade above 84 per U.S. dollar for the first time since October 2024, a move that prompted analysts to reportedly abandon bearish outlooks. In contrast, the Japanese yen fell against the dollar, while the offshore yuan rose slightly. The U.S. dollar index was poised for a third consecutive weekly gain, supported by easing tariff concerns and strong data.

Key Company and Market Developments

Among individual stocks, Bajaj Finance rose 3% and SBI gained 1.41%. Shares of Adani Enterprises climbed 3% after reporting a significant 752% year-on-year surge in Q4 FY25 net profit, primarily due to an exceptional gain of ₹3,286 crore. Adani Ports SEZ also saw gains of 4.37%. PNB Housing Finance shares jumped 4.29% following reports that Carlyle Group was likely selling its remaining 10.44% stake via a $308 million (approximately ₹2,604 crore) block deal.

Conversely, Gensol Engineering shares continued to plunge by 5%, hitting a fresh lower circuit limit for the 16th consecutive day and standing significantly down from its 52-week high, amidst SEBI regulatory action against its promoters. JSW Steel shares fell over 6% after the Supreme Court ordered the liquidation of Bhushan Power and Steel. Federal Bank shares declined over 4% post Q4 results despite analysts maintaining a 'Buy' rating.

Other notable corporate news included Oyo delaying its third IPO attempt due to SoftBank opposition and market volatility, and Priority Jewels filing a DRHP for an IPO. 

In broader market data, domestic institutional investors (DIIs) reportedly surpassed foreign portfolio investors (FPIs) in ownership of NSE-listed companies after 22 years. FPIs had turned net buyers in Indian equities in April. GIFT Nifty also recorded a record monthly turnover in April. 

Current Market Update

• The Sensex is trading at 80,502.09 up by 259.85 points or 0.32%.
• The NSE Nifty 50 is trading at 24,337.25 up by 2.80 points or 0.01%.

Top Gainers of the Market

1.Adani Ports (ADANIPORTS)

• Opening Price: ₹1,255.00
  
  
• Current Market Price (LTP): ₹1,284.50
  
  
• % Change: +5.59%

The stock surged after the company reported a 50% year-on-year increase in consolidated net profit for Q4, reaching ₹3,023 crore. Additionally, the net debt-to-EBITDA ratio improved to 1.9x from 2.3x the previous year, indicating strong financial discipline.

2.Maruti Suzuki (MARUTI)

• Opening Price: ₹12,257.00
  
  
• Current Market Price (LTP): ₹12,580.00
  
  
• % Change: +2.64%
  The Share Price of the Company increased by upto 3% after reporting a 7% increase in total sales in April. The company saw an increase in the sales of compact and utility vehicles.

3.IndusInd Bank (INDUSINDBK)

• Opening Price: ₹835.00
  
  
• Current Market Price (LTP): ₹855.10
  
  
• % Change: +1.99%
  The bank's shares rebounded after a previous decline due to management changes. The recovery is attributed to the bank's strong fundamentals, including an 18.41% year-on-year increase in advances, surpassing its 5-year CAGR of 10.67%.

4.Tata Motors (TATAMOTORS)

• Opening Price: ₹641.00
  
  
• Current Market Price (LTP): ₹656.05
  
  
• % Change: +1.83%
  Positive investor sentiment driven by recent product launches and a favorable shift in global trade expectations contributed to the stock's rise. The company's strong sales figures and profitability also supported the upward movement.

5.Eternal (ETERNAL)

• Opening Price: ₹220.05
  
  
• Current Market Price (LTP): ₹236.25
  
  
• % Change: +1.60%

Despite a year-on-year decline in Q4 profit to ₹39 crore, the stock saw gains due to revenue growth and rapid expansion of its Blinkit segment. However, high costs and weak demand continue to impact overall profitability.

Top Losers of the Market

1.JSW Steel (JSWSTEEL)

• Opening Price: ₹1,021.20
  
  
• Current Market Price (LTP): ₹1,003.20
  
  
• % Change: -2.58%
  The stock declined due to weak momentum indicators and selling pressure in the metals sector, influenced by global trade uncertainties and tariff-related concerns.

2. Eicher Motors (EICHERMOT)
   

• Opening Price: ₹5,560.00
  
  
• Current Market Price (LTP): ₹5,424.00
  
  
• % Change: -2.57%
  The stock continued its downward trend as analysts expressed apprehension about the sustainability of Eicher Motors' approach. The increased spending on new product launches and marketing efforts raised concerns about the company's ability to maintain profitability in the near term.

3.Nestle India (NESTLEIND)

• Opening Price: ₹2,375.00
  
  
• Current Market Price (LTP): ₹2,354.40
  
  
• % Change: -1.42%
  The stock fell following a downgrade by Bank of America to 'underperform,' with a lowered target price, reflecting concerns over the company's growth prospects.

4.Cipla (CIPLA)

• Opening Price: ₹1,537.50
  
  
• Current Market Price (LTP): ₹1,529.30
  
  
• % Change: -1.34%
  The negative sentiment persisted as investors remained wary of the potential implications of U.S. trade policies on Cipla's business. The uncertainty surrounding international trade dynamics contributed to the continued decline in the company's share price.

5.Bajaj Auto (BAJAJ-AUTO)

• Opening Price: ₹8,000.00
  
  
• Current Market Price (LTP): ₹7,929.50
  
  
• % Change: -1.25%

Bajaj Auto reported a 6% year-on-year decline in total sales for April 2025, with dispatches totaling 365,810 units compared to 388,256 units in April 2024. This downturn in sales has raised concerns about the company's growth trajectory, contributing to the recent decline in its share price.   

Market Open 

The BSE Sensex opened higher, rising 489 points to 80,731, while the NSE Nifty gained 108 points to 24,442 in early trade. At 9:16 am, Sensex was up by 464.13 points, or 0.58%, at 80,706.37 after it opened at 80,300.19. The Nifty 50 was higher by 87.90 points, or 0.36%, at 24,422.10. Sectoral indices were trading mostly in positive terrain except for realty and consumer durables.

Factors Influencing Market Sentiment

• The market rally reportedly followed comments from the U.S. President Donald Trump hinting at a "potential" trade deal involving India, South Korea, and Japan, which boosted investor sentiment. Further support for the market rise came from strong earnings reported by US technology companies and a general global shift towards emerging markets. This occurred despite data indicating economic contraction in the US.

• Foreign institutional investors (FIIs) continued to be net buyers of Indian equities for 11 sessions consecutively. This is the longest sequence of inflows since two years and is a reversal of three months of continuous outflows. Domestic institutional investors (DIIs) were also net buyers as provisional cash figures indicated net buying of ₹1792.15 crore on 30 April 2025, whereas FII/FPI net buying was at ₹50.57 crore. Market confidence also enhanced on indication that the US administration may be losing its hardline against tariffs and is willing to engage in trade talks with China. Indian indices have risen about 1.3% this week, hinting at a possible record longest consecutive win for 2025.

• Apple has reported Q2 2025 revenue of $95.36B (estimated $94.59B) and EPS of $1.65 (estimated $1.62). They are reporting a $100B share buyback and a $0.26 per share dividend. Apple reportedly signaled a potential tariff hit of $900 million and is relocating some supply chain activities to India and Vietnam.This is a big positive for India.
• Eternal (Zomato) Shares in Focus Post Q4 Results: Shares of Eternal (formerly Zomato) are likely to be in the spotlight after the food delivery platform reported a 78% year-on-year decline in Q4 net profit to ₹39 crore. Revenue from operations, however, surged 64% YoY to ₹5,833 crore, driven by growth across core verticals.
• RBI’s Bond Purchases May Surpass Covid-Era Levels: The Reserve Bank of India’s bond purchases under open market operations (OMOs) are expected to exceed levels seen during the Covid-19 period, as the central bank looks to inject durable liquidity into the financial system amid evolving macroeconomic conditions.

Currency and Commodities

Dollar Heads for Third Weekly Gain as Trade Tensions Ease

The US dollar is poised for a third straight weekly gain, supported by stronger-than-expected economic data and easing trade tensions with key Washington partners. Investor sentiment has improved following a pullback in recession fears, which were previously stoked by President Trump’s tariff policies. The rebound has extended to US Treasuries and equities. The Indian rupee also strengthened, breaching the 84 per dollar mark for the first time since October 2024.

Gold Rises Post Akshaya Tritiya; Dollar Weakness Supports

Gold prices advanced in domestic futures on Friday, buoyed by a softer US dollar, which touched a six-month low against the rupee. The MCX June 5 contract opened with a gain of ₹496 at ₹92,835 per 10 grams, before retreating slightly. Last traded at ₹92,630, up ₹291 or 0.32%.

Oil Prices Firm on Hopes of US-China Trade Talks

Oil prices edged higher in early Asian trading after China signalled openness to further trade discussions with the United States, raising hopes of a thaw in tensions. Brent crude rose 0.6% to $62.51 per barrel, while WTI gained 0.6% to $59.62.

Stocks in Focus:

• Adani Ports logged a strong 48% jump in consolidated net profit in Q4 FY25.
• Adani Enterprises registered a significant 756% year-on-year increase in consolidated net profit in Q4 FY25.
• Federal Bank saw its Q4 net profit increase by 13.7% year-on-year to ₹1,030.2 crore, despite high provisioning. 
• Phoenix Mills posted a 17.7% year-on-year drop in net profit in Q4FY25 due to a slowdown in activity.
• Zomato (Eternal) reported a consolidated net profit of ₹39 crore for Q4FY25 and is shutting its Zomato Quick and Everyday businesses.
• Mahindra & Mahindra Financial Services reported in-line FY25 performance with 17% AUM growth and positive guidance for future metrics.
• Maruti Suzuki India posted a 1% year-on-year growth in domestic dispatches for April 2025. 
• Tata Motors posted a 6% fall in overall sales in April 2025 compared with last year.
• Hyundai Motor India posted overall sales of 60,774 units during April 2025 and has crossed 90 lakh domestic sales to date. Its utility vehicle sales jumped by 28% domestically in April 2025.
• TVS Motor Company posted a 16% growth in sales during April 2025.
• Royal Enfield (part of Eicher Motors) witnessed its total sales rise by 6% in April 2025.
• Infosys has finalized the takeover of MRE Consulting to bolster its US presence.
• JSW Energy's subsidiary has entered into a Pumped Hydro Storage Power Procurement Agreement.
• One MobiKwik's subsidiary, Zaakpay, has received RBI approval to operate as an Online Payment Aggregator.
• NBCC India has announced receiving new orders for work.
• NCC has announced winning contracts.
• Puravankara has announced a board meeting to consider raising ₹300 crore via NCDs.

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