SSPL Securities Private Limited

End - Session

Detailed review of the post market session of the day.

Indices end almost flat, Nifty holds 25,100; banks drag

10-Jun-25 16:40 Hrs IST

The domestic equity benchmarks closed virtually unchanged today as investors closely monitored ongoing US-China trade discussions. The Nifty 50 managed to conclude the session above the 25,100 level.

After an initial gap-up opening, the Nifty swiftly surrendered its early gains, subsequently trading within a narrow range for the remainder of the day. Sectoral performance was bifurcated, with IT and pharma stocks emerging as gainers. In contrast, realty and banks shares were under pressure.

The S&P BSE Sensex shed 53.49 points or 0.06% to 82,391.72. The Nifty 50 index rose 1.05 points or 0.00% to 25,104.25.

ICICI Bank (down 0.70%), Reliance Industries (down 0.69%) and HDFC Bank (down 0.64%) were major drags.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.04% and the S&P BSE Small-Cap index added 0.33%.

The market breadth was positive. On the BSE, 2,246 shares rose and 1,793 shares fell. A total of 133 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 4.61% to 14.02.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.30% to 6.298 from the previous close of 6.280.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.6300 compared with its close of 85.6675 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement shed 0.11% to Rs 97,064.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 99.09.

The United States 10-year bond yield fell 0.58% to 4.457.

Global Markets:

Most European indices declined on Tuesday, despite the U.K. unemployment and wage data release.

The UK unemployment rate rose to 4.6% in the three months from February to April, marking its highest level since July 2021, according to official data released Tuesday by the Office for National Statistics (ONS). The figure represents a 0.2% increase compared to the previous three-month period.

Despite the rise in unemployment, the employment rate inched up by 0.1 percentage points to 75.1%, with the total number of employed individuals reaching 34 million.

Meanwhile, the economic inactivity rate, which measures the proportion of the working-age population that is neither employed nor actively seeking work, declined by 0.2 percentage points to 21.3%.

Asian stocks ended mixed as investors awaited further developments from the ongoing U.S.-China trade talks.

Trade discussions between the two countries resumed in London on Monday. The U.S. delegation included Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, while the Chinese delegation was led by Vice Premier He Lifeng. The talks follow a May agreement to temporarily reduce mutual tariffs. Current discussions are focused on China's export controls on rare earth minerals and U.S. restrictions on semiconductor exports to China, both of which have significant implications for global supply chains.

In the U.S., equity market movements were subdued on Monday ahead of the upcoming consumer price index (CPI) inflation data release scheduled for Wednesday. The S&P 500 rose 0.09%, marking its second consecutive gain. The Nasdaq Composite added 0.31%, while the Dow Jones Industrial Average edged down by 1.11 points.

Stocks in Spotlight:

The Nifty IT index rose 1.67% to 38,299.95. The index rose 4.03% in the five consecutive trading sessions. Oracle Financial Services Software (3.91%), Persistent Systems (2.75%), Mphasis (2.65%), LTIMindtree (2.51%), Coforge (2.17%), Tech Mahindra (2.14%), HCL Technologies (1.36%), Wipro (1.35%), Infosys (1.34%), Tata Consultancy Services (1.17%) surged.

Jindal Saw surged 6.86% after announcing board approval for three overseas investments worth up to $118 million, aimed at expanding its footprint in the Middle East's iron and steel industry.

Maruti Suzuki India fell 0.82%. The company said it expanded solar capacity by 30MWp with new projects at Kharkhoda and Manesar.

Cinevista hit an upper limit of 20% after the company announced that its board will meet on Thursday, 12 June 2025, to review updates related to its joint development venture with K Raheja Corp Real Estate. The agenda includes placing on record and approving the carpet area sanctions received for Towers A and B of the Antares project, which falls under the existing joint development agreement between the two firms.

ITD Cementation India soared 6.20% after the company secured a contract worth Rs 893 crore for the construction of Berth & Breakwater for the development of Greenfield Captive Jetty(s) in Odisha.

OneSource Specialty Pharma rose 5% after the company announced that its flagship drug-device combination facility in Bangalore has retained its compliance status with the U.S. Food and Drug Administration (USFDA).

Zee Entertainment Enterprises gained 2.89% after the company announced a strategic partnership with the new-age content & tech start-up, Bullet, to launch India's first micro-drama app.

Jana Small Finance Bank rose 0.16%. The bank submitted an application to the Reserve Bank of India (RBI) on 9 June 2025, seeking approval for a voluntary transition into a universal bank.

Mahindra & Mahindra (M&M) shed 0.65%. The company said that it has increased its stake in Mahindra & Mahindra Financial Services (MMFSL), its listed non-banking finance subsidiary, following the allotment of equity shares under MMFSL's Rs 2,996 crore rights issue.

Zydus Lifesciences fell 0.26%. The company announced that it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its Active Pharmaceutical Ingredient (API) manufacturing facility located at Dabhasa, near Vadodara.