Stock market today: Indian equities after the best one-day gain in four years opened lower by a tad. At opening bell, the BSE Sensex was lower by 69.34 points, or 0.08 per cent, at 82,360.56, and the Nifty 50 was at 24,917.75, lower by 6.95 points, or 0.03 per cent.
Broader markets, meanwhile, traded mixed with smallcap gauge was up by 0.06 per cent, while midcaps traded weak.
Meanwhile, the Bank Nifty also traded weak after the strength in the previous session on the largest cross-border banking sector transaction in the country, which involved Japan’s Sumitomo Mitsui Banking Corporation (SMBC) buying 20 per cent stake in the private sector lender YES Bank from the State Bank of India (SBI) and seven private banks for Rs13,482 crore.
FIIs and DIIs continued their buying streak, but negative Gift Nifty at the pre-open suggests that investors are not enthused by FII buying. Also, the sentiment turned cautious after the Prime Minister’s address in the evening yesterday, who remarked that Operation Sindoor has just been suspended and future Indian military action will be dependent on Pakistan’s moves.
Sectoral performance
Despite a sell-off in most of the sectors, defying trend pharma pack traded with strength even as US President Donald Trump signed an executive order to slash US drug prices. Also, PSU Bank gauge traded with strength.
Stocks in news today:
Zaggle Prepaid: The company posted strong results with revenue soaring 51 per cent on-year.
Tata Steel: Tata Steel posted in-line Q4 earnings. Shares will hence gain traction in Tuesday’s trade.
Titan: CEO of the watches and wearables segment, Suparna Mitra has resigned from her position.
Swiggy: Lock-in ends for the shareholders today, hence the food delivery services stock with gather steam today.
Rupee opens with strength
After the currency market holiday on Monday due to Buddha Purnima, the domestic unit opened with strength. At the open, the rupee appreciated by 71 paise to 84.67 after ending at 85.38 against the greenback on Friday.
Asian markets
Most regional markets in Asia in Tuesday’s trade (May 13, 2025) cheered the US-China trade deal. The key MSCI Asia ex Japan index traded with a minor gain of 0.01 per cent. Meanwhile, the markets remained on the sidelines ahead of th key inflation data due later today.
