Nifty ends tad above 25,100 level; PSU bank shares in demand
As per provisional closing data, the barometer index, the S&P BSE Sensex, added 256.22 points or 0.31% to 82,445.21. The Nifty 50 index rose 100.15 points or 0.40% to 25,103.20. In the past four trading sessions, the Sensex and Nifty advanced by 2.12% and 2.28%, respectively.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.03% and the S&P BSE Small-Cap index added 1.19%.
The market breadth was strong. On the BSE, 2,809 shares rose and 1,395 shares fell. A total of 131 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.42% to 14.69.
Economy:
Indias forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday.
For the week ended May 30, foreign currency assetsa major component of the reservesfell $1.952 billion to $584 billion, according to the RBI data.
The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said.
Indias reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed.
Buzzing Index:
The Nifty PSU Bank rose 1.52% to 7,208.45. The index gained 2.3% in the two consecutive trading sessions.
Bank of India (up 3.86%), Bank of Maharashtra (up 3.38%), Indian Bank (up 2.79%), Indian Overseas Bank (up 2.37%), Punjab National Bank (up 1.86%), Canara Bank (up 1.69%), Punjab & Sind Bank (up 1.56%), Union Bank of India (up 1.3%), Central Bank of India (up 1.26%) and State Bank of India (up 0.89%) advanced.
Stocks in Spotlight:
JSW Steel rose 0.24%. The company recorded consolidated steel production of 22.73 lakh tonnes in May 2025, which is higher by 8% as compared with the production volume of 20.98 lakh tonnes reported in May 2024.
Mahindra & Mahindra (M&M) shed 0.52%. The company said that its total production jumped 27.56% to 89,626 units in the month of May 2025, compared with 70,261 units produced in the same period last year.
HDFC Bank shed 0.01%. The bank said that the Mehta Family, throughthe Lilavatii Kirtilal Medical Trust, has filed an FIR against the bank and its MD and CEO Sashidhar Jagdishan in an attempt to thwart the recovery of the long outstanding loan dues owed to the bank.
Persistent Systems added 1.98% after the companys board approved the reappointment of Dr. Anand Deshpande as the managing director (MD) of the company for the next term of 5 consecutive years.
Multi Commodity Exchange of India (MCX) jumped 7.22% after the company said it received approval from the Securities and Exchange Board of India (SEBI) to launch electricity derivatives.
Capri Global Capital surged 19.52% after the company launched the autopay facility for gold loans, eliminating the need for manual payments or branch visits. This new feature is designed to make gold loan repayments more convenient, secure, and hassle-free for customers.
RailTel Corporation of India added 3.10% after the company announced that it has secured two significant work orders worth a total of Rs 259.07 crore from government entities in Bihar and Himachal Pradesh.
Afcons Infrastructure added 2.65% after the firm received a letter of award (LoA) from Reliance Industries (RIL) worth Rs 700 crore for the execution of construction works related to the Vinyl Projects at Dahej, Gujarat.
Glenmark Pharmaceuticals rose 0.68%. The drug maker announced the upcoming launch of zanubrutinib in India, following approval from the Drugs Controller General of India (DCGI).
Larsen & Toubro (L&T) rose 0.69%. The company announced that its heavy civil infrastructure (HCI) vertical has secured a significant order from JSW Energy for the execution of the Bhavali pumped storage project (PSP) in the state of Maharashtra.
Global Markets:
European markets traded lower on Monday as global investors remained cautious ahead of the upcoming US-China trade talks, which are expected to take place in London.
Asian stocks ended higher as investors awaited trade discussions between the United States and China and reviewed the latest economic data from China and Japan.
China's consumer price index declined 0.1% year-on-year in May, unchanged from the previous month, according to government data released Monday. The producer price index fell 3.3% year-on-year, marking the sharpest decline in 22 months and following a 2.7% decrease in April.
Japan's gross domestic product contracted 0.2% year-on-year in the JanuaryMarch quarter. While better than the preliminary estimate of a 0.7% decline, it reflected a reversal from 2.4% growth in the previous quarter.
Reports indicated that China granted temporary approvals for rare earth exports, and Boeing resumed commercial aircraft deliveries to China.
In the United States, equities closed higher on Friday following the release of nonfarm payroll data and news of upcoming trade talks. The US economy added 139,000 jobs in May, down from Aprils revised figure of 147,000. March payrolls were also revised lower to 120,000.
Average hourly earnings increased by 0.1% on a monthly basis in May, resulting in a 0.4% annual pace, reflecting ongoing wage pressures.
President Donald Trump stated that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer would meet Chinese officials in London on Monday to discuss trade matters.
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