POST-MARKET SUMMARY 29th May 2025

On 29 May, Indian equity indices ended higher, breaking their two-day losing streak. The rally was fuelled by positive global cues after a US federal court blocked President Donald Trump’s reciprocal tariffs announced in early April. Although the market saw some volatility due to the expiry of F&O contracts, it largely held steady throughout the day amid rising oil prices and increasing US 10-year bond yields.

Sector-wise, strength was observed in Realty, Metals, Pharma and IT while PSU Banks and FMCG showed notable weakness.

NIFTY:  The index opened 73 points higher at 24,825 and made a high of 24,892 before closing at 24,833. Nifty has formed a Doji-like candlestick pattern on the daily chart. Its immediate resistance level is now placed at 25,000 while its immediate support is at 24,700.

BANK NIFTY: The index opened 154 points higher at 55,571 and closed at 55,546. Bank Nifty has also formed a Doji-like candlestick pattern on the daily chart. Its immediate resistance level is now placed around 55,900 while immediate support is around 55,200.

Stocks in Spotlight

▪  Insecticides India: Stock surged up to 8% after the agrochemical firm reported a strong performance for the March quarter. Consolidated profit soared 85% YoY to Rs 13.89 crore compared to Rs 7.52 crore in the same period last year.

▪  Cummins India: Stock jumped over 6% despite reporting a 7% YoY decline in net profit to Rs 521.37 crore for the March quarter. Revenue from operations grew 6% to Rs 2,457 crore, supported by steady growth in export demand.

▪  Avanti Feeds: Stock rose 2% after the company reported a 40% growth in Q4 profit. Revenue also climbed 8% YoY to Rs 1,385 crore.

Global News

▪  Asian markets rebounded strongly on Thursday, with key benchmarks recovering from previous losses. The positive momentum was driven by a U.S. court ruling that determined President Trump had overstepped his authority in imposing broad tariffs on America’s trading partners, easing concerns over trade tensions in the region.

▪  Gold prices dropped to approximately $3,270 per ounce on Thursday, marking their fourth consecutive day of decline. This downward trend was driven by easing tariff concerns, which reduced demand for safe-haven assets.

▪  Brent crude oil futures climbed more than 1% on Thursday, surpassing $65.50 per barrel. The market is watching for potential new U.S. sanctions curbing Russian crude flows and an OPEC+ decision to hike output in July.

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