Post Session: Quick Review

Indian equity benchmarks staged a strong recovery on Friday, with both the Nifty and Sensex closing near day’s high points, driven by positive global cues and robust buying in IT and FMCG stocks. Markets made a positive start and extended their gains throughout the session, amid heavy buying in blue-chip stocks. Additionally, the easing of U.S. Treasury yields, further boosted investors’ sentiments.

Some of the important factors in today’s trade:

Piyush Goyal meets US Secretary for mutually beneficial India-US trade agreement: Traders took some encouragement as Union Minister of Commerce and Industry Piyush Goyal held a meeting with Howard Lutnick, the United States Secretary of Commerce, to discuss the prospects of a mutually beneficial trade agreement between the two nations. 

'Omanisation' last key issue in conclusion of India-Oman FTA talks: Some support came with a report stating that the negotiations for the proposed India-Oman free trade agreement (FTA) are nearing conclusion with both sides discussing the last issue of the Gulf country's labour-related 'Omanisation' policy, as New Delhi wants the current regime to remain unchanged for its workers. 

UK to accord non-discriminatory treatment to Indian firms: Traders took note of report that UK for the first time has agreed to accord non-discriminatory treatment to Indian companies in its public procurement system under the free trade agreement (FTA) between the two countries.    

Global front: European markets were trading mostly in green after the release of better-than-expected regional data. Retreating bond yields also offered some support. Asian markets ended mixed after US Treasury yields eased on improved US data and comments from a US Fed official that he still sees a path to interest rate cuts later this year.

The BSE Sensex ended at 81721.08, up by 769.09 points or 0.95% after trading in a range of 80897.00 and 81905.17. There were 28 stocks advancing against 2 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index was up by 0.50%, while Small cap index up by 0.45%. (Provisional)

The top gaining sectoral indices on the BSE were FMCG up by 1.49%, Utilities up by 1.02%, Power up by 1.01%, Bankex up by 0.99% and Oil & Gas up by 0.94%, while Healthcare down by 0.01% was the only losing index on BSE. (Provisional)

The top gainers on the Sensex were Eternal up by 3.51%, Power Grid Corp up by 2.51%, ITC up by 2.32%, Bajaj Finserv up by 2.09% and Nestle up by 1.83%. On the flip side, Sun Pharma down by 1.84% and Bharti Airtel down by 0.19% were the few losers. (Provisional)

Meanwhile, the Union Minister of Electronics and Information Technology (MeitY), Ashwini Vaishnaw, has called for concerted action to build talent and capacity in support of the Viksit Bharat 2047 mission envisioned by Prime Minister Narendra Modi. Besides, he urged industry and academia to accelerate the development of a future-ready workforce to drive India’s manufacturing growth.

Union Minister highlighted the success of the Gati Shakti platform as a model for industry-academia collaboration, where companies co-created job-ready curriculums without any financial investment just by sharing knowledge. He called for replicating such models across sectors to ensure employability from day one.

While, MeitY continues to support ecosystem-driven initiatives that bridge critical skill gaps, democratize access to advanced technology education, and contribute to India's global competitiveness in the electronics and manufacturing domains.

The CNX Nifty is ended at 24853.15, up by 243.45 points or 0.99% after trading in a range of 24614.05 and 24909.05. There were 48 stocks advancing against 2 stocks declining on the index. (Provisional)

The top gainers on Nifty were Eternal up by 3.72%, HDFC Life Insurance up by 3.25%, JIO Financial Services up by 2.62%, Power Grid Corp up by 2.48% and ITC up by 2.39%. On the flip side, Sun Pharma down by 2.04% and Grasim Industries down by 0.57% were the top losers. (Provisional)

European markets were trading mostly in green; UK’s FTSE 100 increased 15.68 points or 0.18% to 8,754.94 and Germany’s DAX gained 69.2 points or 0.29% to 24,068.37, while France’s CAC fell 28.27 points or 0.36% to 7,836.17. 

Asian markets settled mostly higher on Friday, tracking a retreat in US Treasury yields from recent highs and comments from a Federal Reserve official that the US central bank might lower interest rates in 2025 if tariff issues are resolved. Japanese shares gained despite government data that showed core inflation accelerated to 3.5% in April as the central bank considers pausing its rate hike posture to assess the impact of US tariffs. However, Chinese shares declined despite efforts by the country's central bank PBoC to boost spending. Markets were still cautious as the US House of Representatives passed a controversial bill that could add trillions to the federal government's already massive debt.