POST-MARKET SUMMARY 20th May 2025

On May 20, equity benchmarks extended their losing streak for the third consecutive session, pressured by weak global cues and continued foreign institutional investor selling. The market opened positively, briefly reclaiming key psychological levels, but was unable to sustain early gains due to lacklustre follow-through buying. Profit-booking accelerated in the latter half, resulting in a sharp decline and closing the market near the day’s lows. 

Broad-based selling was evident across sectors, with auto, banking, pharmaceuticals and FMCG among the hardest hit, each recording losses between 1% and 2%. 

In the primary market, Borana Weaves Ltd launched its IPO with the GMP surging to 25% on the first day of bidding. Get a detailed review of the IPO here.

NIFTY:  The index opened 51 points higher at 24,996 and made a high of 25,010 before closing at 24,683. Nifty has formed a bearish candle on the daily chart. Its immediate resistance level is now placed at 24,800 while its immediate support is at 24,630.

BANK NIFTY: The index opened 25 points higher at 55,445 and closed at 54,877. Bank Nifty has formed a bearish candle on the daily chart. Its immediate resistance level is now placed around 55,200 while immediate support is around 54,500.

Stocks in Spotlight

▪  Pfizer: Stock surged nearly 11% following a strong quarterly performance, with profit rising 85% year-on-year to Rs 331 crore. Revenue also increased by 8.3%, reaching Rs 591.9 crore.

▪  Tata Steel: Stock jumped over 2% intraday as investor sentiment improved following China’s announcement of a rate cut to support its economy amid trade tensions with the US. This boosted hopes for increased metal consumption, benefiting metal exporters and producers.

▪  HLE Glascoat: Stock spiked 20% to hit the upper circuit after the firm reported a 113% surge in Q4 net profit to Rs 32 crore, while operating revenue climbed 9% year-on-year to Rs 334 crore.

Global News

▪  Asian markets showed cautious sentiment as Hong Kong’s seasonally adjusted unemployment rate rose slightly to 3.4% for the quarter ending April 2025, marking the highest level in more than two years. This development added to broader regional concerns over economic recovery and labour market stability.

▪  US markets showed a modest pullback in futures trading on Tuesday after a quiet session on Monday, reflecting cautious investor sentiment amid mixed economic signals.

▪  Gold climbed above $3,220 per ounce on Tuesday, driven by ongoing worries about the US economic outlook and fiscal deficit, which sustained demand for safe-haven assets.

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