The key domestic indices traded continued to trade with modest losses in the mid-afternoon trade, amid mixed global cues. Investor sentiment remained cautious amid signs of escalation in geopolitical tensions between India and Pakistan followed by the Pahalgam terror attack. Additionally, the market is volatile as the monthly Nifty50 F&O contracts are set to expire today. Nifty traded below 24,250 mark
IT shares declined after advancing in the past trading session.
Investors will also closely watch the market’s response to India’s latest diplomatic and economic measures against Pakistan, announced following Tuesday's terrorist attack in Pahalgam in Jammu & Kashmir, which claimed 26 lives. These measures include the suspension of the Indus Waters Treaty, shutting down the Wagah-Attari border, and cancelling visas for Pakistanis, along with other measures.
At 14:25 IST, the barometer index, the S&P BSE Sensex declined 265.68 points or 0.33% to 79,850.81. The Nifty 50 index lost 81.95 points or 0.34% to 24,247.
In the broader market, the S&P BSE Mid-Cap index shed 0.17% and the S&P BSE Small-Cap index added 0.21%.
The market breadth was positive. On the BSE, 2,019 shares rose and 1,869 shares fell. A total of 148 shares were unchanged.
Economy:
On the macroeconomic front, the World Bank on Wednesday revised its growth outlook for India, trimming its forecast by 0.4 percentage points to 6.3% for the current fiscal year. The revision reflects rising global uncertainty, which the institution warned could dampen growth prospects across South Asia.
Buzzing index :
The Nifty IT index fell 0.48% to 53,244.65. The index jumped 4.4% in the past trading session.
Coforge (down 1.01%), Mphasis (down 0.95%), Wipro (down 0.72%), HCL Technologies (down 0.58%) and LTIMindtree (down 0.55%), Tata Consultancy Services (down 0.49%), Infosys (down 0.48%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper advanced 1.94% to 6.454 as compared with the previous close of 6.428.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.3800, compared with its close of 85.4500 during the previous trading session.
MCX Gold futures for the 5 June 2025 settlement were added 1.35% to Rs 96.006.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.54% to 99.37.
The United States 10-year bond yield fell 0.93% to 4.346.
In the commodities market, Brent crude for June 2025 settlement advanced 36 cents or 0.54% to $66.48 a barrel.
Stocks in Spotlight:
Black Box was locked in 10% upper ciruit after the company announced that it had achieved order wins totaling Rs 1,550 crore in Q4 of the financial year 2024–25.
Astec Lifesciences dropped 3.20% after the company’s consolidated net loss widened to Rs 16.08 crore in Q4 FY25 as against a net loss of Rs 0.964 crore reported in Q4 FY24. Revenue from operations declined 22.26% YoY to Rs 119.53 crore in the quarter ended 31 March 2025.
Nestle India fell 0.43%. The company’s standalone net profit declined 5.21% to Rs 885.41 crore in Q4 FY25, compared with Rs 934.17 crore posted in Q4 FY24. However, revenue from operations jumped 4.48% to Rs 5,503.9 crore in Q4 FY25 as against Rs 5,267.6 crore posted in Q4 FY24.