CLOSING BELL: Sensex up 320 pts, Nifty at 24,833; FMCG index only laggard among sectors

Markets End Slightly Lower Amid Expiry Volatility; Sectoral Action Mixed

The Indian market opened on a flat note at 24,825 and touched an intraday high of 24,889 in the early hours. However, it soon lost momentum and slipped to the day’s low of 24,677. Sector-wise, strength was observed in Construction, Metals, Pharma, and IT, while PSU Banks, Consumer Goods, Financial Services, and Bank Nifty showed notable weakness.

Positive cues such as an improved monsoon forecast, a Favorable inflation outlook, and expectations of robust Q4 GDP growth, with the economy projected to expand by 6.7%—its strongest pace in a year—initially supported sentiment. However, the market experienced a slight decline by the close.

On the derivatives front, being the expiry day, market breadth remained nearly balanced with 109 advancing stocks and 111 declining. Notable open interest build-up was seen in RBL Bank, ICICI Lombard (ICICIGI), Max Healthcare, BSOFT, and Motherson.

Nifty from Rupak De, Senior Technical Analyst at LKP Securities:

"Nifty witnessed a volatile session on the day of monthly expiry. The momentum continues to remain weak, with the RSI still pointing downward. The next crucial support is at 24,670. If the index falls below this level, a sharp correction may occur, potentially dragging the index down to 24,400/ 24,300.  On the other hand, if Nifty holds above 24,670, it could witness a smart recovery towards 25,000 or 25,150 in the short term."

Lumax Auto Q4

#1 Net Profit (GU) 32% at Rs 58.4 crore (YoY)

#2 Revenue (GU) 49.6% at Rs 1,133 crore (YoY)

#3 EBITDA (GU) 70.6% at Rs 156.7 crore (YoY)

#4 Margin at 13.83% (YoY)

At closing, the Sensex was up 483.03 points or 0.59 percent at 81,795.35, and the Nifty was up 128.35 points or 0.52 percent at 24,880.80. About 1751 shares advanced, 1748 shares declined, and 87 shares unchanged.

#1 Net Profit at Rs 279.8 crore (YoY)

#2 Revenue (GU) 25.5% at Rs 1,010.2 crore (YoY)

#3 EBITDA at Rs 301 crore (YoY)

#4 Margin at 29.79% (YoY)

#1 Net profit at Rs220.3 cr vs Rs91 cr (YoY)

#2 Revenue down 17% at Rs1,554 cr vs Rs1,870.3 cr (YoY)

#3 EBITDA up 68% at Rs285.61 cr vs Rs170 cr (YoY)

#4 Margin at 18.38% vs 9.1% (YoY)

#1 Net Profit Down 63.2% At Rs21 Cr Vs Rs57 Cr (YoY)

#2 Revenue Up 6.3% At Rs2,099.2 Cr Vs Rs1,975 Cr (YoY)

#3 EBITDA Flat At Rs221 Cr (YoY)

#4 Margin At 10.56% Vs 11.18% (YoY)

#1 Net profit Rs71.12 crore, down 7.7% y/y

#2 Revenue Rs1050 crore, up 1.9% y/y

#3 Total costs 9.55 billion rupees, up 2.7% y/y

#1 Net Profit At Rs306 Cr Vs CNBC-TV18 Poll Of Rs400 Cr

#2 Revenue At Rs3,144 Cr Vs CNBC-TV18 Poll Of Rs3,149 Cr

#3 EBITDA Down 2.60% At Rs391.50 Cr Vs Rs402 Cr (YoY)

#4 Margin At 12.45% Vs 13.69% (YoY)

#1 Bonus Issue of 1 share for every 2 shares held

#2 Net Profit Up 19.6% At Rs1,051 Cr Vs Rs878.60 Cr (YoY)

#3 Revenue Up 6% At Rs29,317 Cr Vs Rs27,666 Cr (YoY)

#4 EBITDA Down 1.6% At Rs2,643 Cr Vs Rs2,685 Cr (YoY)

#5 Margin At 9% Vs 9.7% (YoY)

#1 Net Profit Up 14.1% At Rs68 Cr Vs Rs59.60 Cr (YoY)

#2 Revenue Up 10.50% At Rs2,247 Cr Vs Rs2,033 Cr (YoY)

#3 EBITDA Up 33.3% At Rs429 Cr Vs Rs322 Cr (YoY)

#4 Margin At 19.09% Vs 15.83% (YoY)

QIB – 18.23 times

NII - 137.45 times

Retail – 27.47 times

Overall – 48.4 times

"Banks saw profit growth in FY25 primarily due to robust double-digit credit growth, stable Net Interest Margins (NIMs) supported by steady interest rates for most of the year, low credit costs, and a well-managed cost-to-income ratio. However, the recent CRR cuts may lead to some pressure on NIMs as the increased liquidity translates into the loan book, even though banks have responded by lowering both savings account and term deposit rates."

He added, "The RBI's measures to enhance system liquidity are expected to support continued credit growth in FY26. As a result, despite potential margin compression, the banking sector is likely to achieve double-digit earnings growth in FY26, with asset quality remaining stable and showing no signs of significant deterioration so far."

The Indian rupee opened on a weaker note against the US dollar on Wednesday. At 9:05 AM, the home currency was trading at Rs 85.53 per dollar, down 0.2 percent from its previous close of Rs 85.37.

Nifty slipped lower in yesterday’s trade, weighed down by a 1.44% fall in the FMCG index as ITC dropped 3% after reports of a Rs 12,900 crore stake sale by British American Tobacco. The standout performer was LIC, which jumped 8.12% after posting a 38.15% rise in standalone net profit to Rs 19,012.79 crore in Q4, despite a dip in total income. On Thursday morning, Wall Street futures are upbeat following strong Nvidia results, though the Fed’s May meeting minutes flagged elevated economic uncertainty and recession risks. As May F&O expiry stirs volatility, Nifty’s key support is seen at 24,363 with resistance at 25,117. Stock-specific movers included NMDC (-2.58%) on weak Q4 earnings, Triveni Engineering (+6.32%) on strong growth, and Apollo Micro Systems (+13.74%) after bagging an export order. For the day, focus is on Q4 results from Alkem, Bajaj Auto, Coffee Day, Engineers India, and Ipca Lab. Among top trading picks, HUDCO is favoured for an interweek rebound play.

Bajaj Auto, Ipca Laboratories, Alkem Laboratories, Amara Raja Energy & Mobility, Bajaj Hindusthan Sugar, Campus Activewear, Engineers India, Gujarat Pipavav Port, ICRA, KNR Constructions, Lemon Tree Hotels, Lumax Auto Technologies, Samvardhana Motherson International, NBCC (India), Prestige Estates Projects, SJVN, Sobha, and Suzlon Energy will announce their quarterly earnings on May 29.

The stock market closed lower on Wednesday. The 30-share BSE Sensex fell by 239.32 points, or 0.29 percent, to settle at Rs 81,312.32. Meanwhile, the broader 50-issue NSE Nifty also witnessed a decline, slipping by 73.35 points, or 0.30 percent, to close at Rs 24,752.45.

Indian markets are likely to open on a positive note, as indicated by the performance of Gift Nifty in early trade. Gift Nifty was trading at Rs 24,836, up by 80 points or 0.33 percent from its previous close.

#1 US Federal trade court strikes down Trump’s reciprocal tariffs

#2 Asian markets climb after court ruling on Trump tariffs

#3 Bank of Korea cuts rates for the fourth time

#4 Dow futures surge 500 points as US court blocks Trump’s tariffs

#5 Gift Nifty signals a strong start

#6 Wall Street ends with losses overnight

#7 Nvidia jumps 5% after hours after earnings beat expectations

#8 European markets end lower

#9 US 30-year yield touches above 5%

#10 Dollar gains on trade optimism

#11 Gold holds steady as Fed minutes flag inflation, recession risks

#12 OPEC+ alliance holds oil quotas ahead of July output review

Asian markets opened on a strong note, tracking overnight gains in US equities. Japan’s Nikkei led the rally, rising by 1.7 percent in early trade. Meanwhile, Hong Kong’s Hang Seng Index and China’s Shanghai Composite both gained 0.5 percent each.

Stocks declined on Wednesday, May 28, as investors digested a fresh round of corporate earnings and the minutes from the Federal Reserve’s latest meeting. Market participants remained cautious ahead of Nvidia’s much-anticipated quarterly results, adding to the subdued sentiment.

The S&P 500 fell by 0.56 percent to close at Rs 5,888.55, while the tech-heavy Nasdaq Composite slipped 0.51 percent, ending the session at Rs 19,100.94. The Dow Jones Industrial Average also recorded a loss, dropping 244.95 points, or 0.58 percent, to settle at Rs 42,098.70.