Bourses trade near neutral lines in early afternoon session

Indian markets traded near neutral lines with negative bias in early afternoon session ahead of monthly F&O expiry. Traders took note of report that the size of Reserve Bank of India’s balance sheet as of March 31, 2025 increased by 8.20% year-on year, leading to a bumper dividend of Rs 2.69 lakh crore for the central government. Meanwhile, India’s industrial production growth, measured in terms of the Index of Industrial Production (IIP), slowed to an 8-month low of 2.7 per cent in April 2025 due to poor performance of manufacturing, mining and power sectors. On the global front, Asian markets were trading mostly in green as Bank of Korea lowered its benchmark rate by a quarter-point to mitigate downside pressure on the economy. The monetary policy board, governed by Rhee Chang Yong, unanimously decided to cut the Base Rate by 25 basis points to 2.50 percent.

The BSE Sensex is currently trading at 81263.66, down by 48.66 points or 0.06% after trading in a range of 81212.79 and 81816.89. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.26%, while Small cap index up by 0.33%.

The top gaining sectoral indices on the BSE were Realty up by 0.83%, IT up by 0.63%, TECK up by 0.50%, Metal up by 0.41% and Utilities was up by 0.38%, while Bankex down by 0.36%, FMCG down by 0.28% and Oil & Gas was down by 0.08% were the few losing indices on BSE.

The top gainers on the Sensex were Trent up by 1.45%, Eternal up by 1.41%, Sun Pharma up by 1.39%, Tata Steel up by 0.93% and Tech Mahindra up by 0.84%. On the flip side, Bajaj Finance down by 1.13%, Kotak Mahindra Bank down by 0.83%, Bharat Electronics down by 0.73%, HDFC Bank down by 0.68% and ITC down by 0.63% were the top losers.

Meanwhile, Indian Construction Equipment Manufacturers' Association (ICEMA) has said that the domestic construction equipment industry is likely to register double-digit growth in the ongoing financial year (FY26) as the pace of project execution, which has shown some positive momentum, is expected to grow further.

ICEMA said the Indian construction equipment industry achieved a 3 per cent growth in FY25, with total equipment sales reaching 1,40,191 units compared to 1,35,650 units in FY24. While domestic market growth remained subdued at 2.7 per cent, the industry's overall performance was better due to a 10 per cent surge observed in exports, reinforcing the country's position as the world's third-largest construction equipment market. 

It said earthmoving equipment continued to dominate with 71 per cent market share, recording 99,159 units sold (6 per cent growth). Backhoe loaders sales were 53,133 units (54 per cent share), followed by crawler excavators at 35,816 units (36 per cent share). Material Handling Equipment accounted for 17,050 units, while concrete equipment contributed 14,473 units with a 3 per cent growth. Road construction equipment achieved 7,002 units, and material processing equipment recorded 2,507 units. Looking ahead, the industry expects higher demand for construction equipment driven by anticipated infrastructure investments and economic recovery. 

However, to capitalise on this expected growth, it said the sector will require necessary government support including policy interventions to stimulate domestic demand, facilitate financing access, and address supply chain challenges. It added that the industry's strong export foundation, combined with robust domestic manufacturing capabilities, positions it well to meet future demand provided appropriate support mechanisms are implemented.

The CNX Nifty is currently trading at 24738.60, down by 13.85 points or 0.06% after trading in a range of 24708.65 and 24889.70. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were Wipro up by 1.44%, Trent up by 1.41%, Eternal up by 1.41%, Sun Pharma up by 1.40% and Indusind Bank up by 1.32%. On the flip side, Tata Consumer down by 1.27%, Bajaj Finance down by 1.07%, Kotak Mahindra Bank down by 0.86%, Shriram Finance down by 0.69% and HDFC Life Insurance down by 0.68% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 710.58 points or 1.85% to 38,432.98, Hang Seng advanced 211.06 points or 0.9% to 23,469.37, KOSPI increased 50.49 points or 1.86% to 2,720.64 and Shanghai Composite was up by 23.46 points or 0.7% to 3,363.39. On the flip side, Taiwan Weighted lost 10.42 points or 0.05% to 21,347.30 and Straits Times was down by 13.31 points or 0.34% to 3,898.61.