POST-MARKET SUMMARY 19th May 2025
On May 19, Indian benchmark indices closed with the Nifty slipping below key levels. Despite this, broader markets outperformed, with midcap and smallcap indices showing continued strength. Market breadth remained positive, maintaining a 2:1 advance-to-decline ratio.
In terms of sector performance, IT stocks fell 1.3% following Moody’s US credit downgrade while PSU banks gained 1.5%. Auto rose 0.4% and oil and gas declined by 0.45%.
NIFTY: The index opened flat at 25,005 and made a high of 25,062 before closing at 24,945. Nifty has formed a small bearish candle on the daily chart. Its immediate resistance level is now placed at 25,100 while its immediate support is at 24,800.
BANK NIFTY: The index opened 28 points lower at 55,326 and closed at 55,420. Bank Nifty has formed a small bullish candle on the daily chart. Its immediate resistance level is now placed around 55,700 while immediate support is around 55,100.
Stocks in Spotlight
▪ Delhivery: Stock jumped over 9% after the company posted a Rs 73 crore net profit, reversing last year’s loss. Net profit rose 190% sequentially, with revenue up 6% year-on-year but down 7.8% from the previous quarter.
▪ Vodafone Idea: Stock tumbled over 8% following the Supreme Court’s dismissal of pleas from major telecom companies seeking a waiver on adjusted gross revenue (AGR) dues. The court described the petitions as "misconceived" and expressed surprise that multinational companies had filed them, ultimately rejecting the requests.
▪ Divi’s Laboratories: Stock rallied over 6% intraday following a strong earnings report for the January-March quarter of FY25, driven by a recovery in the API segment. The company posted a 23% increase in net profit to Rs 662 crore while revenue rose 12% year-on-year to Rs 2,585 crore.
Global News
▪ Asian markets ended mostly flat on Monday, recovering from early losses thanks to gains in consumer stocks.
▪ Oil inched lower on Monday, weighed down by Moody's downgrade of the U.S. sovereign credit rating and demand concerns following official data showing a slowdown in China's industrial output and retail sales.
▪ Gold climbed above $3,220 per ounce on Monday, rebounding after its sharpest weekly decline in six months. The renewed demand for safe-haven assets was fuelled by increasing worries over the US economic outlook and budget deficit.
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