Stock Markets

Following a robust rally that pushed benchmark indices to seven-month highs, Indian equity markets experienced a moderate correction on Friday, driven primarily by profit-taking in IT stocks and Bharti Airtel. The BSE Sensex fell 200 points, while the NSE Nifty declined by 42 points, as investors locked in gains. Sectoral divergence was notable, with select large-cap stocks retreating even as mid and small-cap indices sustained upward momentum. Global market cues were mixed, with Asian markets mostly subdued and European bourses trading higher.

Shares of India’s defence and aerospace companies extended their strong upward trajectory on Friday, buoyed by continued investor optimism in the wake of heightened military engagement under Operation Sindoor. Leading firms across segments—ranging from drone technology to missile systems—posted significant gains despite broader market weakness. The rally reflects heightened expectations for defence procurement and indigenous manufacturing as geopolitical tensions intensify.

Shares of Bharti Airtel slid nearly 3% on Friday after Singapore Telecommunications Ltd (Singtel) announced the sale of approximately 1.2% of its direct stake in the Indian telecom major. The transaction, valued at SGD 2 billion (around USD 1.5 billion), was part of Singtel’s broader capital management strategy aimed at optimizing its asset portfolio and enhancing shareholder value.

IndusInd Bank has come under sharp scrutiny from investors after disclosing an internal audit finding of unsubstantiated balances amounting to Rs. 595 crore in its “other assets” category. Following a whistleblower complaint, the bank’s Internal Audit Department (IAD), under the direction of the Audit Committee, uncovered and subsequently adjusted these balances against corresponding “other liabilities” in January 2025. The revelation sent the bank’s shares tumbling nearly 6% on the BSE. The IAD report also flagged potential accountability issues among senior employees.

Indian equity benchmarks opened lower on Friday as investors locked in profits following a strong rally in the previous session. The BSE Sensex dropped over 250 points in early trade, while the NSE Nifty fell below the 25,000-mark. The decline was largely driven by losses in heavyweight IT stocks and subdued sentiment across Asian markets. While select stocks such as Adani Ports and NTPC offered some support, the broader market reflected caution. This pullback follows a sharp two-day surge driven by robust institutional buying and favorable global cues.

Indian equities rebounded on Wednesday, buoyed by a significant decline in retail inflation to a near six-year low of 3.16% in April—boosting investor sentiment and heightening expectations for a possible interest rate cut by the Reserve Bank of India in its upcoming June policy review. The Sensex gained 182 points, while the Nifty advanced nearly 89 points amid easing global inflationary pressures and stabilizing geopolitical tensions.

ndia’s equity markets witnessed a remarkable resurgence on Thursday, with the benchmark BSE Sensex soaring by 1,200.18 points, marking a seven-month high at 82,530.74. The NSE Nifty breached the psychologically significant 25,000 level, closing at 25,062.10 for the first time since October 2024. This rally was fueled by across-the-board buying across key sectors, including banking, automobile, IT, and oil & gas, alongside fresh inflows from foreign institutional investors.

Bharti Airtel shares climbed nearly 3% on Wednesday following a dramatic five-fold surge in its consolidated net profit for the March 2025 quarter. The telecom major reported earnings of Rs. 11,022 crore, driven largely by tariff hikes and a substantial one-time tax gain. Revenue also posted healthy growth, reflecting strong subscriber monetization and operational performance. Investor confidence was visibly reinforced as the company’s results surpassed expectations, underscoring the strength of its business model and the strategic impact of recent pricing decisions.

India’s equity benchmarks rebounded sharply in early trading on Wednesday, buoyed by easing retail inflation and a more favorable global economic backdrop. April’s Consumer Price Index (CPI) fell to a nearly six-year low of 3.16%, stoking optimism that the Reserve Bank of India may initiate another rate cut in its upcoming June monetary policy review. This optimism was echoed globally, as U.S. inflation data also cooled, boosting investor sentiment across markets.

After a record rally on Monday, Indian stock markets faced a sharp correction on Tuesday, with the benchmark Sensex plunging by 1,282 points, or 1.55%. Profit-taking across various sectors, especially IT, auto, and private banking, led the decline. The broader Nifty also saw a notable drop of 1.39%. While the markets experienced significant losses, some stocks like Sun Pharma and Bajaj Finance posted gains. Analysts attribute the pullback to profit-booking after the relief-driven surge caused by easing geopolitical tensions and trade war concerns.