POST-MARKET SUMMARY 23rd May 2025

On May 23, Indian equity markets rebounded sharply, recovering from the previous day’s sell-off. The rally was supported by positive corporate earnings and a decline in US Treasury yields that boosted global risk appetite.

Sector-wise, most indices ended lower, with Consumer Durables down 1.9%, Auto falling 1.7%, IT declining 0.9%, FMCG dropping 0.8%, Oil & Gas down 0.6% and Power slipping 0.2%. These sectors faced selling pressure despite the broader market recovery.

NIFTY:  The index opened 30 points higher at 24,639 and made a high of 24,909 before closing at 24,853. Nifty has formed a long bullish candle on the daily chart. Its immediate resistance level is now placed at 24,900 while its immediate support is at 24,750. 

BANK NIFTY: The index opened flat at 54,959 and closed at 55,398. Bank Nifty has formed a bullish candle on the daily chart. Its critical resistance level is now placed around 55,700 while critical support is around 55,000.

Stocks in Spotlight

▪  Emcure Pharma: Stock surged close to 10% following the company’s fourth-quarter results release. Net profit surged 63% to Rs 197 crore, up from Rs 121 crore in the same period last year.

▪  Paras Defence: Stock rose 1% following the announcement of a joint venture with an Israeli firm to produce cargo drones.

▪  Centum Electronics Ltd: S tock zoomed nearly 13% after the company returned to profitability in the fourth quarter, reporting a profit of Rs 22 crore Vs a loss of Rs 7 crore in the previous period. Revenue also climbed 24% YoY, reaching Rs 369 crore.

Global News 

▪  Asia-Pacific stock markets closed Friday with mixed results, as investors carefully weighed various regional economic data. Some major bourses rose, while others stayed flat or declined, reflecting cautious and selective sentiment.

▪  European stocks tumbled, the euro gave back some gains, and eurozone government bond yields fell sharply on Friday after U.S. President Donald Trump announced a recommendation for a straight 50% tariff on goods from the European Union starting June 1.

▪  Gold prices climbed to approximately $3,330 per ounce on Friday, recovering from earlier losses and positioning for a weekly gain. The rise was driven by safe-haven demand amid persistent concerns about the U.S. fiscal outlook.

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