The Nifty traded below the 24,750 mark. Private Bank shares extended losses for the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, shed 7.99 points or 0.01% to 81,305.19. The Nifty 50 index fell 7.85 points or 0.03% to 24,744.60.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.27% and the S&P BSE Small-Cap index added 0.37%.

The market breadth was negative. On the BSE, 1,845 shares rose and 2,068 shares fell. A total of 151 shares were unchanged.

Economy:

India's industrial output growth slowed to 2.7% in April, as against the revised growth of 3% in the preceding month of March, according to the data released by the Ministry of Statistics and Programme Implementation. Manufacturing output, which carries the largest weight in the index, advanced 3.4% in April as against 4% in the previous month, while electricity generation increased to 1.1% from 7.5% in March. Mining activity contracted by 0.2% in April from an expansion of 1.2% a month ago.

RBI Annual Report Highlights:

The Reserve Bank of India (RBI), in its annual report, projected that the Indian economy is likely to maintain its position as the fastest-growing major economy in FY2025-26. The optimism is fueled by a pickup in private consumption, robust bank and corporate balance sheets, supportive financial conditions, and a sustained push from the government on capital expenditure.

The central bank also painted a positive inflation outlook for the coming year, citing easing global supply chain pressures, a dip in commodity prices, and the prospect of a strong agricultural output driven by an above-normal southwest monsoon.

However, the RBI cautioned that financial markets may face intermittent volatility, particularly in response to global uncertainties like shifting trade tariff policies and rising geopolitical tensions.

On the financial front, the RBI's balance sheet grew 8.20% year-on-year to Rs 76.25 lakh crore as of 31 March 2025. While income for the year increased by 22.77%, expenditure increased by 7.76%. The year ended with an overall surplus of Rs 2.68 lakh crore as against Rs 2.10 lakh crore in the previous year, resulting in an increase of 27.37%.

The asset side of the balance sheet saw increases in gold reserves, domestic investments, and foreign investments. Domestic assets accounted for 25.73% of total assets, while foreign currency assets, gold, and other holdings made up the remaining 74.27%.

On the liabilities side, the growth was attributed to a rise in currency in circulation, revaluation accounts, and other liabilities by 6.03%, 17.32% and 23.31%, respectively.

Buzzing Index:

The Nifty Private Bank index shed 0.18% to 27,454.30. The index fell 0.74% in three consecutive trading sessions.

Federal Bank (down 0.87%), IDFC First Bank (down 0.78%), HDFC Bank (down 0.54%), ICICI Bank (down 0.41%) and Kotak Mahindra Bank (down 0.17%), Axis Bank (down 0.08%) down.

On the other hand, RBL Bank (up 3.57%) ,IndusInd Bank (up 2.14%) and Bandhan Bank (up 0.48%) added.

Numbers to Track:

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.4400, compared with its close of 85.3875 during the previous trading session.

MCX Gold futures for 5 June 2025 settlement shed 0.62% to Rs 94,685.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.14% to 100.04.

The United States 10-year bond yield added 0.96% to 4.522.

In the commodities market, Brent crude for July 2025 settlement rose 67 cents or 1.03% to $65.57 a barrel.

Stocks in Spotlight:

Kokuyo Camlin declined 2.85% after the company's standalone net profit fell 57.9% to Rs 4.39 crore on 8% decline in revenue from operations to Rs 199.35 crore in Q4 FY25 over Q4 FY24.

Texmaco Rail & Engineering advanced 0.93%. The company announced that it has been awarded a wagon-supply contract worth Rs 140.55 crore by the Railway Board, Ministry of Railways.

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