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Informist, Tuesday, May 27, 2025

By Akash Mandal

MUMBAI – Benchmark indices ended lower after a choppy session Tuesday due to profit booking after strong gains in the past two sessions and selling by foreign investors, market participants said. After opening lower, indices recovered briefly in afternoon trade, but could not sustain at higher levels and retreated towards their intraday lows.

Trade was volatile during the session as investors looked to book profits at higher levels. The India VIX, which is the fear gauge of the Street, rose over 6% at its intraday high but came off highs to eventually settle nearly 3% higher at 18.5350. The rupee fell 25 paise to end at 85.33 against the dollar due to continuous foreign fund outflows from equities.

The Nifty 50 ended at 24826.20 points, down 174.95 points or 0.7%. The index lost nearly half of the nearly 400-point gains made in the last two sessions. ITC, alongside heavyweights such as ICICI Bank, HDFC Bank, and Reliance Industries, were the biggest drag on the index and ended 1-2% lower. Weakness in information technology stocks also weighed on the index. The BSE Sensex closed 624.82 points or 0.8% lower at 81551.63 points. Bucking the trend, broader market indices managed to end in the green, albeit with limited gains. 

Jio Financial Services ended over 3% higher and was the top gainer in the 50-stock index after the market regulator gave the registration certificate to Jio BlackRock Mutual Fund and allowed Jio BlackRock Asset Management to act as the asset management company. Jio BlackRock Mutual Fund is jointly owned by Jio Financial Services and BlackRock, with each holding 50%. IndusInd Bank and Trent were the other top gainers on the index, gaining around 3% and 1%, respectively. IndusInd Bank, which has been in the news for all the negative reasons recently, has closed in the green in the last four trading sessions, gaining nearly 7%.

Most sectoral indices ended in the red, with those on the fast-moving consumer goods, information technology, and financial services sectors being the worst hit. The Nifty FMCG ended around 1% lower, with ITC, United Spirits, and Godrej Consumer Products ending 1-2% lower each. IT stocks such as HCL Technologies, Tata Consultancy Services, and Persistent Systems also fell around 1% each.

Defence stocks rose for the fifth straight session. The Nifty India Defence ended over 1% higher. The index has gained 8% in the last five sessions. Garden Reach Shipbuilders & Engineers, Cyient DLM, and Cochin Shipyard ended 2-3% higher.

Many stocks reacted to their March quarter earnings. Sumitomo Chemical India ended nearly 6% lower after its bottom line for the March quarter fell below the Street's expectations. Shares of RattanIndia Enterprises, which were down nearly 1% ahead of its earnings, fell further and ended 4% lower after its losses widened on year in the reporting quarter. 

Shares of General Insurance Corp. of India fell nearly 4% after its bottom line declined 17% on year during the quarter due to a surge in claims and commissions. Blue Dart Express closed over 5% lower as its bottom line contracted 30% on year in the March quarter. Sundaram Finance ended 3% lower despite its bottom line beating the Street's view. "FY25 has seen soft disbursement growth (+9% YoY) (for Sundaram Finance) due to low government spending/general slowdown in economic activity," Prabhudas Lilladher said in a report.

Sagility India ended 5% lower after its promoter Sagility B.V. proposed to sell up to a 7.39% stake in the company through an offer for sale. Brainbees Solutions plunged 6% after the company said the Bureau of Indian Standards searched one of its warehouses in Bengaluru and seized goods worth INR 9 million for further investigation. Olectra Greentech pared some losses but still ended nearly 7% lower after reports claimed that the Maharashtra State Road Transport Corp. cancelled an order for 5,150 electric buses from the company.

Shares of Bayer Cropscience surged 14% intraday before closing nearly 11% higher after its top line and bottom line saw robust on-year growth in the March quarter. Minda Corp. closed 5% higher despite its March quarter bottom line falling on year and missing the analysts' estimates. 

* Of the Nifty 50 stocks, 11 rose and 39 fell 

* Of the Sensex stocks, 6 rose and 24 fell

* On the NSE, 1,412 stocks rose, 1,462 fell, and 81 were unchanged

* On the BSE, 1,957 stocks rose, 1,979 fell, and 148 were unchanged

* Nifty India Defence: up 1.1%; Nifty PSU Bank: up 0.3%; Nifty FMCG: down 0.9%

BSE                                               NSE

Sensex: 81551.63, down 624.82 points or 0.8%      Nifty 50: 24826.20, down 174.95 points or 0.7%

End

Edited by Saji George Titus

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