CHENNAI: Indian equity benchmarks opened lower on Friday (May 30) amid cautious investor sentiment, as market participants eye the final batch of March 2025 quarter corporate earnings and the all-important Q4FY25 GDP data due later this week. Global jitters around revived US tariff policies under former President Donald Trump added to the nervousness.
Benchmark Indices
BSE Sensex opened at 81,525, down 108 points or 0.13%
Nifty50 was at 24,800, down 33 points or 0.13%
The weakness comes despite relative strength in broader market indices and select sectors.
Key Market Movers
However some stocks bucked the trend and the top gainers in the early session included Adani Ports, Nestle India, L&T, Sun Pharma, Bajaj Finserv, Power Grid, and Titan. These stocks provided support to the indices with moderate gains amid selective buying.
While top losers were IT heavyweights such as Infosys, HCL Tech, Tech Mahindra, and TCS, which dragged the indices lower. IndusInd Bank and Tata Steel also saw selling pressure on Friday.
Broader Market & Sectoral Trend
Despite the dip in frontline indices, broader markets showed resilience—an indication of ongoing rotation and stock-specific action.
Nifty MidCap 100 rose slightly by 0.36%, and Nifty SmallCap 100 also gained modestly by 0.15%.
Sectoral Snapshot
Nifty PSU Bank Index opened higher by 0.31%. While, Nifty IT Index dropped 0.7%, mainly hurt by concerns over global demand and policy headwinds.
Global Developments: Trump Tariff Jitters
Global markets are on alert after a US Appeals Court reversed a previous ruling, reinstating reciprocal tariffs imposed during Donald Trump's presidency. The Biden administration is reportedly considering seeking an emergency stay from the US Supreme Court. The news reignited trade tensions, adding a layer of uncertainty for export-oriented sectors globally.
Stocks in Focus
Bajaj Auto: Shares fell nearly 2% after a 10.4% YoY drop in Q4FY25 net profit to ₹1,802 crore, despite an 8% rise in revenue to ₹12,204 crore.
Ola Electric Mobility: Shares plunged over 5% after reporting a widening loss of ₹870 crore, and a 59.5% YoY drop in revenue to ₹611 crore for Q4FY25.
Suzlon Energy: Stock jumped 11% after the company posted a multi-fold jump in profit to ₹1,180.98 crore, with revenues surging 73% YoY to ₹3,773.54 crore.
Market Outlook
According to market watchers, investor sentiment remains subdued as investors await final corporate results for Q4FY25, India's GDP data for the March quarter, and any updates on US tariff policy and its global trade implications.
Volatility may remain elevated in the near term, especially with global macroeconomic uncertainty and sector-specific earnings surprises continuing to influence sentiment, they say.
Disclaimer: This report is for informational purposes only and does not constitute investment advice. Please use your own market intelligence or consult your financial advisor before making any investment decisions.