The domestic equity indices traded with minor losses in early trade as border tensions weighed on investor sentiment, offsetting positive developments such as FII inflows and progress in global trade talks. The Nifty traded above the 24,300 level. Realty, pharma and FMCG shares advanced while media and consumer durables shares declined.

The weekly Nifty50 Futures & Options (F&O) series expiry has been shifted to today due to the market holiday tomorrow in observance of Maharashtra Day.

At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 56.02 points or 0.06% to 80,243.91. The Nifty 50 index shed 52.20 points or 0.21% to 24,283.75.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.44% and the S&P BSE Small-Cap index declined 1.16%.

The market breadth was weak. On the BSE, 819 shares rose and 1,899 shares fell. A total of 122 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,385.61 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,369.19 crore in the Indian equity market on 29 April 2025, provisional data showed.

Stocks in Spotlight:

Bajaj Finance tumbled 5.56%. The company's consolidated net profit jumped 17.1% to Rs 4,479.57 crore in Q4 FY25 as compared with Rs 3,824.53 crore in Q4 FY24. Total income increased 23.7% YoY to Rs 18477.56 crore in Q4 FY25. Meanwhile, the board recommended final dividend of Rs 44 per share for FY25, sub-division of 1 (one) equity share of face value of Rs 2 each fully paid-up into 2 (two) equity shares of face value of Re 1 each fully paid-up and bonus equity shares in the ratio of 4:1, four bonus equity shares of Re1 each for every one equity share of Re 1 each fully paid up.

Bajaj Finserv tanked 6.21%. The company's consolidated net profit increased 14.07% to Rs 2,416.64 crore in Q4 FY25 as against Rs 2,118.53 crore in Q4 FY24. Total income rose 14.21% YoY to Rs 36,596.43 crore in Q4 FY25. Meanwhile, the company's board declared dividend of Re. 1 per equity share of face value of Re 1 for FY25.

Bharat Petroleum Corporation (BPCL) added 1.96%. The company's consolidated net profit fell 8.3% to Rs 4391.83 crore in Q4 FY25 as compared with Rs 4789.57 crore in Q4 FY24. Net sales (excluding excise duty) declined 4.6% YoY to Rs 1,11,230.21 crore in Q4 FY25.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 1.55% to 6.440 as compared with previous close 6.390.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.1000, compared with its close of 84.9625 during the previous trading session.

MCX Gold futures for 5 June 2025 settlement shed 0.51% to Rs 95,107.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.13% to 99.34.

The United States 10-year bond yield shed 0.14% to 4.168.

In the commodities market, Brent crude for May 2025 settlement shed 64 cents, or 1% to $63.61 a barrel.

Global Markets:

Asian markets traded mixed on Wednesday as traders parsed a slew of key economic data in the region.

Australia's first-quarter inflation rose 2.4% compared to the same period last year, higher than the expected 2.3% climb. Meanwhile, China's manufacturing activity fell more than expected to a near two-year low, sliding into contractionary territory in April as the escalating trade war with the U.S. hurts bilateral trade.

Starting with China, the country's manufacturing activity contracted more than expected in April, with the official Purchasing Managers' Index (PMI) dipping to 49.0'below the 50 mark that separates growth from contraction.

Japan's industrial production in March shrank by 1.1% month-on-month, more than double the expected decline. Retail sales also disappointed, rising 3.1% year-on-year, short of the 3.6% forecast, after a hot streak through early 2024.

Meanwhile, all eyes are now on the Bank of Japan, which kicked off its policy meeting today. Markets expect rates to remain steady at 0.5% when the decision lands on Thursday.

Across the Pacific, U.S. stocks posted their sixth straight day of gains on Tuesday, driven by cooling Treasury yields and renewed optimism on the trade front. The Dow climbed 0.8%, while both the S&P 500 and Nasdaq notched up about 0.6% gains.

President Trump added to the cheer, signaling positive progress on tariff negotiations with India'coming along great, he said. Meanwhile, Treasury Secretary Scott Bessent noted that substantial talks are underway with Japan and hinted that a deal with South Korea might be on the horizon.

US consumer confidence took a hit, with the Conference Board's index dropping 7.9 points to 86.0 in April'its lowest reading since May 2020. The Atlanta Fed's GDPNow forecast for Q1 also slipped to -2.7%, while the JOLTS report showed a drop in job openings to 7.192 million.

In corporate news, Coca-Cola managed to fizz up 0.8% despite reporting a dip in Q1 revenue'even price hikes couldn't fully quench investor thirst. Meanwhile, Spotify lost some rhythm, tumbling over 3% after issuing underwhelming guidance for monthly active users.

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