Sensex Today | Stock Market LIVE Updates: GIFT Nifty hints positive start; Asian stocks trade mixed

Jubilant FoodWorks finds itself caught in the crossfire of escalating tensions between India and Pakistan, amid growing calls for a boycott of Türkiye following the country’s implicit support for Pakistan in the ongoing conflict. The company had acquired DP Eurasia, the master franchisee of Domino’s Pizza in Turkey, Azerbaijan, and Georgia, in early 2024.

There are reports emerging that overall India’s trade relations with Turkey and Azerbaijan are expected to come under strain due to Ankara and Baku backing Islamabad and condemning India’s recent strikes on terror camps in Pakistan. Indian traders too have started boycotting Turkish products such as apples and marble.

Realty firm Keystone Realtors Ltd on Wednesday reported a more than two-fold jump in its consolidated net profit to Rs 66.95 crore in the fourth quarter of the last financial year. Its net profit stood at Rs 30.47 crore in the year-ago period.

Mumbai-based Keystone Realtors, which sells properties under Rustomjee brand, is one of the leading real estate developers in the country.

The company’s total income, however, declined to Rs 642.20 crore in January-March period of the last fiscal from Rs 826.15 crore in the corresponding period of the preceding year, according to a regulatory filing.

Tariff truce between the US and China has prompted major brokerages to scale back their recession forecasts on the world’s largest economy. While Goldman Sachs reduced its US recession estimates to 35% from 45% while JP Morgan has placed the probability below 50%. Barclays dismissed recession risks entirely.

Goldman Sachs was the first major brokerage to do so as a new wave of optimism has set in amid easing of global trade tensions.

Both countries on Monday agreed to significantly ease their tit-for-tat tariffs for a 90-day period with the US lowering its tariffs on Chinese goods to 30% from 145% and China cutting duties on U.S. imports to 10% from 125%.

LIC Mutual Fund has announced the re-introduction of its five flagship equity schemes, which is aimed at enhancing product offerings, attracting new investors, and aligning the funds with changing market dynamics. Reintroducing of ‘Funds in Focus Q1FY25’, also strengthens the funds’ appeal by integrating new technologies and rolling out strategies that embolden their growth potential.

As of April 2025, LIC Mutual Fund manages a total of 41 schemes, comprising 15 equity funds, 9 debt funds, 6 hybrid funds, 1 solution-oriented fund and 10 ETF, index and other funds. The fund house has a robust monthly SIP inflow. Overall, AUM has seen a notable rise from Rs 33,854 crore in March 2025 to Rs 37,554 crore in April 2025, registering a growth of 11% and reflecting strong investor interest and portfolio growth.

• Revenue grew by 7.3% YoY to Rs. 6.03 billion
• Same Store Sales Growth (SSSG) at 0.7%; adjusted SSSG, excluding the leap year impact, was 1.7%
• Operating EBITDA increased by 3.2% YoY to Rs. 795 million with margins at 13.2%
• Digital sales contribution rose to 75% of total sales
• Added 18 new restaurants in Q4, bringing the total restaurant count to 438 across 69 cities

The U.S. dollar continued to weaken on Wednesday, extending its sharpest drop in over three weeks after softer-than-expected consumer inflation data strengthened the case for Federal Reserve rate cuts, coinciding with easing global trade tensions.

Data showed the U.S. consumer price index (CPI) rose 0.2% in April, falling short of the 0.3% increase forecast by economists in a Reuters poll, following a 0.1% decline in March.

• Cons revenue from operations at Rs 2,704 cr; est. at Rs 2,641 cr
• Consol net profit at Rs 262 cr; est. at Rs 243 cr

• India is now the most preferred equity market in Asia with 42% fund managers overweight, surpassing Japan (39%), per BofA’s latest survey.
• The shift is driven by supply chain realignments and strong infrastructure and consumption themes.
• Investor sentiment on Asia is improving, with fewer expecting economic and earnings slowdowns.
• CLSA warns India’s “safe haven” appeal could fade if U.S.-China trade ties continue to improve, drawing flows back to Chinese markets.

• Harish Krishnan of Aditya Birla Sun Life AMC advises buying cyclical sectors when profit pool share is low.
• He sees potential in metals, citing re-industrialization trends and a weakening dollar.
• Real estate may face headwinds due to high ownership and ample supply.
• Caution is advised on hospitality stocks amid increased listings and possible overvaluation. Read More

• Nykaa and Coromandel International will join the MSCI India Index from May 30, 2025.
• Nykaa shares rose 3.44%, while Coromandel dropped nearly 4% after initial gains.
• 11 companies will be added to the MSCI Global Smallcap Indexes, including Tata Technologies and Godrej Agrovet.
• 22 firms, including Aarti Drugs and TeamLease, will be removed from the Smallcap Index.

• RBI’s 2025 rate cuts have pushed home loan interest rates below 8%, boosting affordability.
• PSU Bank index rose 9% since April 9; Canara Bank jumped 18.4%, SBI 8%.
• Private banks rallied too — ICICI Bank up 10%, HDFC Bank 8.7%.
• NBFCs like Cholamandalam and Sundaram Finance gained over 6% post rate cuts.

• Stocks: KOSPI gained 1.23% to close at 2,640.57, marking its third straight session of gains, driven by tech stocks.
• Top movers: Samsung Electronics (+0.88%), SK Hynix (+3.78%), LG Energy Solution (+0.48%). Samsung Biologics rose 0.50%, while Kia Corp and POSCO fell.
• Samsung Deal: Samsung to acquire Germany’s FlaktGroup for €1.5 billion.
• Currency & Bonds: Korean won weakened 0.32% to 1,420.8/USD. Benchmark 10-year bond yield rose to 2.719%, while 3-year yield fell to 2.357%.

• Sebi has cautioned investors against dealing with Strata SM REIT, which is no longer a Sebi-registered intermediary.
• Strata surrendered its SM REIT license after legal proceedings involving its promoter.
• The entity hasn’t launched any schemes or migrated existing fractional real estate assets.
• Sebi advised investors to be cautious, noting Strata can no longer present itself as a regulated SM REIT.

• JM Financial’s new model portfolio is bullish on banks, infra, telecom, and oil & gas, favoring large caps like ICICI Bank, L&T, and Reliance.
• It expects growth from govt capex, rural demand, and a possible RBI rate cut.
• Cautious on mid/small-caps, internet, pharma, cement, and consumers due to high valuations and weak earnings visibility.
• Neutral on autos and IT; key picks include TCS, Infosys, Bharti Airtel, and BEL.

• Bitcoin rose 1% to $103,481 and Ethereum jumped 7.3% to $2,650 after soft U.S. inflation data boosted hopes of Fed rate cuts.
• Altcoins like Dogecoin, Solana, and XRP gained 3–9%, lifting global crypto market cap by 2.8% to $3.38 trillion.
• Technical indicators show bullish momentum for Bitcoin, with key resistance at $105,000 and support at $100,000 and $90,000.
• BTC dominance fell to 62.2%, hinting at an altcoin rotation; Crypto Fear and Greed Index at 70 reflects rising optimism.

• NSE has closed its probe into irregular trades by Jane Street Group, a major player in India’s derivatives market.
• The investigation focused on rapid trade reversals at off-market prices, flagged earlier this year.
• Concerns were raised over potential market manipulation amid a booming derivatives segment.
• Jane Street reportedly executes most of its India trades in the derivatives space. Read More

• Japan’s Nikkei fell 0.14% to 38,128.13 as investors booked profits after a recent rally.
• The Topix ended down 0.32%, breaking a 13-day winning streak—the longest since 2009.
• Fast Retailing and Toyota dragged the Nikkei, while Sony rose 3.67% on a profit forecast.
• Yaskawa Electric dropped 1.88% after being removed from MSCI’s standard index.

• European shares opened flat as investors paused after earlier gains driven by the U.S.-China trade truce.
• STOXX 600 held steady at 545.31 after four straight sessions of gains.
• German and Spanish inflation eased to 2.2%, aligning with expectations.
• Burberry jumped 7.9% on strong results; Brenntag fell 3%, Vestas rose 1.2% after a rating upgrade.

• Virtual Galaxy Infotech’s IPO is 42 times oversubscribed, with a strong GMP of 53%, signaling potential listing gains.
• The IPO aims to raise Rs 93.29 cr, with shares priced between Rs 135-142, and strong interest from non-institutional investors.
• Funds will be used for expansion, debt repayment, and business development.
• The company, founded in 1997, specializes in SaaS solutions and IT services, with FY24 revenue at Rs 63 cr.

• Tata Elxsi partners with Mercedes-Benz Research and Development India (MBRDI) for vehicle software and SDV development, boosting automotive software capabilities.
• The collaboration strengthens Tata Elxsi’s long-term engagement with Mercedes-Benz and focuses on next-gen automotive software from India.
• The deal enhances Tata Elxsi’s position in the SDV, autonomous systems, and EV software sectors, leveraging proprietary solutions like AVENIR SDV and AUTONOMAI ADAS.
• Tata Elxsi’s Q4 results show a 12.4% decline in net profit, though revenue increased by 0.3% year-on-year.

• Microsoft lays off 6,000 employees (3% of workforce) as part of AI-focused restructuring.
• The cuts affect various teams, including software engineering, product management, Xbox, and LinkedIn, with a focus on reducing managerial layers.
• The company aims to build high-performing teams by flattening management structures, not directly linking the layoffs to AI.
• The layoffs reflect a broader tech industry shift towards efficiency and recalibration amid economic challenges. Read More

• Wholesale price inflation fell to 0.85% in April from 2.05% in March, driven by easing prices of food, fuel, and manufactured goods.
• Food articles saw deflation of 0.86%, with vegetable prices dropping sharply by 18.26%; onion inflation eased significantly.
• Manufactured products inflation slowed to 2.62%, while fuel and power saw deflation of 2.18%.
• With retail inflation at a 5-year low of 3.16%, RBI may consider another rate cut in its June policy review.

• Reliance Industries’ Rs 500 crore investment in Asian Paints in 2008 is now worth Rs 10,500 crore, excluding dividends.
• RIL plans to exit its 4.9% stake as Asian Paints faces market share erosion and rising competition from Birla Opus.
• Asian Paints has seen 25% stock decline in 3 years, pressured by weak demand, rebates, and margin shrinkage.
• Brokerages cut earnings estimates and target price, signaling a potential slowdown for the once-dominant paint giant. Read More

• Mutual funds bought stocks worth Rs 17,000 crore in April.
• Top buys: Infosys, TCS, Reliance; top sells: ITC, Airtel, ICICI Bank.
• Midcaps bought: RBL Bank, Syngene; sold: Amber Ent., Voltas.
• Smallcaps bought: Ujjivan, BSE; sold: PVR Inox, Amber Ent.

• S&P 500 futures were little changed as of 9:41 a.m. Tokyo time
• Hang Seng futures rose 1.1%
• Nikkei 225 futures (OSE) fell 0.1%
• Japan’s Topix fell 0.6%
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures fell 0.2%

Defense stocks surged on Wednesday, with Cochin Shipyard, Bharat Dynamics, and other companies rising as much as 11% on the BSE. The boost was fueled by the success of Operation Sindoor and Prime Minister Narendra Modi’s strong support for India’s defense manufacturing sector.

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Following a recent uptick in precious metals driven by easing inflation, investors opted to book profits. As a result, Gold June futures on MCX were trading at Rs 93,195 per 10 grams, down by Rs 452 or 0.48%. Silver July futures also declined, trading at Rs 96,063 per kg, down by Rs 704 or 0.73%.

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Indian government bond yields held steady on Wednesday, as investors looked for new cues following April’s lower-than-expected retail inflation, which reinforced hopes of a rate cut by the Reserve Bank of India in June.

As of 10:30 a.m. IST, the yield on the new 10-year benchmark bond maturing in 2035 stood at 6.2778%, slightly down from the previous close of 6.2792%.

Raymond Ltd shares plunged 66% on Wednesday, dropping to Rs 530 from Tuesday’s closing price of Rs 1,561.30, as the stock went ex-date following the demerger of its real estate arm, Raymond Realty.

1. Demerger triggers notional price adjustment

2. Realty business steps out with strong numbers

3. Expansion through JDAs sharpens focus on MMR

4. Listing of Raymond Realty expected by Q2 FY

1. ACME Solar Holdings
2. Authum Investment
3. AWL Agri Business
4. Dr. Agarwal’s Health Care
5. Godrej Agrovet
6. Hexaware Technologies
7. IGIL
8. Le Travenues Technology
9. Sagility India
10. Sai Life Sciences
11. Tata Technologies

FSN E-Commerce Ventures (Nykaa) and Coromandel International have been included in the MSCI India Index, a segment of the MSCI Global Standard Index, as per the May 2025 review announced on Wednesday.

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According to a report, the company has outlined a significant capital expenditure plan of Rs 15,000 crore for FY26.

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The company posted a 51% year-on-year drop in consolidated net profit to Rs 8,470 crore for Q4FY25, while revenue held steady at Rs 1.19 lakh crore. Despite the decline, the results beat Street estimates, surpassing the ET Now poll forecast of Rs 7,669 crore.

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After a strong start to the week, markets paused on Tuesday, closing with a loss of over 1%. In today’s session, attention will be on stocks like HAL, Eicher Motors, Airtel, Tata Motors, and Cipla, driven by recent news updates and their fourth-quarter earnings reports.

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Oil prices hovered near two-week highs in early Wednesday trading, bolstered by a temporary tariff reduction deal between the U.S. and China, along with a weakening U.S. dollar.

Brent crude futures dipped slightly by 10 cents, or 0.15%, to $66.53 a barrel as of 0008 GMT, while U.S. West Texas Intermediate (WTI) crude edged down 7 cents, or 0.11%, to $63.60. Both benchmarks had surged over 2.5% in the prior session.

The S&P 500 and Nasdaq extended their gains for a second consecutive session on Tuesday, buoyed by cooler-than-expected inflation data that reinforced the optimism sparked Monday by the U.S.-China trade truce announcement.

In contrast, the Dow ended lower, weighed down by a 17.8% plunge in UnitedHealth shares after the insurer withdrew its annual guidance and announced the resignation of its CEO.

• The euro was little changed at $1.1190
• The Japanese yen was little changed at 147.46 per dollar
• The offshore yuan was little changed at 7.1959 per dollar

• S&P 500 futures were little changed as of 9:41 a.m. Tokyo time
• Hang Seng futures rose 1.1%
• Nikkei 225 futures (OSE) fell 0.1%
• Japan’s Topix fell 0.6%
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures fell 0.2%