Sensex down 152 pts, Nifty below 24,800 level; VIX slides 2.13%

The key equity indices traded with limited losses in the mid-morning trade, as strong foreign portfolio investor (FPI) inflows and optimism over domestic growth were offset by caution ahead of the upcoming GDP data release. The Nifty traded below the 24,800 level. Auto shares slipped after advancing for the past consecutive trading session.

At 11:30 ST, the barometer index, the S&P BSE Sensex, slipped 162.42 points or 0.20% to 81,472.11. The Nifty 50 index fell 51.45 points or 0.21% to 24,783.35.

In the broader market, the S&P BSE Mid-Cap index shed 0.27% and the S&P BSE Small-Cap index added 0.11%.

The market breadth was negative. On the BSE, 1,627 shares rose and 2,068 shares fell. A total of 188 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 2.13% to 16.07.

IPO Update:

The initial public offer (IPO) of Scoda Tubes received bids for 15,27,09,600 shares as against 1,18,46,169 shares on offer, according to stock exchange data at 11:18 IST on Friday (30 May 2025). The issue was subscribed 12.89 times.

The issue opened for bidding on Wednesday (28 May 2025) and it will close on Friday (30 May 2025). The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Auto index fell 0.90% to 23,344.70. The index added 0.51% in the previous trading session.

Bajaj Auto (down 2.51%), Ashok Leyland (down 1.96%), Tata Motors (down 1.24%), Mahindra & Mahindra (down 1.18%), TVS Motor Company (down 0.85%), Balkrishna Industries (down 0.84%), Exide Industries (down 0.72%), Bharat Forge (down 0.68%), MRF (down 0.56%) and Maruti Suzuki India (down 0.38%) declined.

On the other hand, Samvardhana Motherson International (up 1.29%) ,Tube Investments of India (up 0.64%) and Hero MotoCorp (up 0.19%) added.

Bajaj Auto fell 2.51%. The companys standalone net profit rose 6% to Rs 2,049 crore, while revenue from operations increased 6% to Rs 12,148 crore in Q4 March 2025 over Q4 March 2024.

Stocks in Spotlight:

Landmark Cars fell 5.79% after the companys consolidated net profit declined 86.6% YoY to Rs 1.42 crore despite a 26.3% jump in revenue from operations to Rs 1,091.22 crore in Q4 FY25 over Q4 FY24.

Senco Gold rose 2.11% after the company's net profit increased by 94.1% to Rs 62.44 crore as revenue from operations rose by 21.1% to Rs 1,377.71 crore in Q4 March 2025 over Q4 March 2024.

Amara Raja Energy & Mobility fell 4.62% after the company's standalone net profit declined 26.85% to Rs 166.81 crore, while revenue from operations rose 6.33% to Rs 2,973.85 crore in Q4 March 2025 over Q4 March 2024.

Global Markets:

Asian shares traded lower on Friday as investor sentiment remained cautious amid signs of a slowing U.S. economy, persistent inflation concerns, and uncertainty surrounding recent judicial developments linked to U.S. President Donald Trumps tariff policies.

On Wednesday, the U.S. Court of International Trade ruled that Trump had exceeded his authority in imposing the so-called reciprocal tariffs and ordered them to be vacated. In response, the Trump administration filed an appeal, and by Thursday afternoon, an appellate court reinstated the levies. The administration indicated it may approach the Supreme Court as early as Friday to pause the lower courts decision.

In regional economic data, Japans core consumer price index, excluding fresh food, rose 3.6% year-on-year in May, slightly higher than Aprils 3.4%, according to the Statistics Bureau. The countrys unemployment rate remained unchanged at 2.5% in April.

South Korea reported a 0.9% decline in industrial production for April on a seasonally adjusted basis, following a 2.9% increase in March, according to data released by Statistics Korea.

Despite the uncertainty, U.S. markets closed slightly higher overnight. The S&P 500 rose 0.4%, the Nasdaq Composite added 0.39%, and the Dow Jones Industrial Average gained 0.28%. However, gains were limited by investor caution surrounding the ongoing legal proceedings related to the tariffs.

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