The key domestic indices ended with moderate losses today, snapping the seven day winning streak, amid global cues. Investor sentiment was cautious following India’s latest diplomatic and economic measures against Pakistan, announced following Tuesday's terrorist attack in Pahalgam in Jammu & Kashmir, which claimed 26 lives. These measures include the suspension of the Indus Waters Treaty, shutting down the Wagah-Attari border, and cancelling visas for Pakistanis, along with other measures.

Additionally, market volatility was heightened by the expiry of the monthly Nifty50 F&O contracts. Nifty closed below 24,250 mark after hitting day’s high of 24,347.85 in early trade. Realty, FMCG and consumer durable shares declined while pharma, metal and media shares advanced

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 315.06 points or 0.39% to 79,801.43. The Nifty 50 index lost 82.25 points or 0.34% to 24,246.70.

The broader market underperformed the headline indices. The S&P BSE Mid-Cap index shed 0.16% and the S&P BSE Small-Cap index fell 0.01%.

The market breadth was negative. On the BSE, 1,926 shares rose and 2,011 shares fell. A total of 149 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 1.81% to 16.25.

Economy:

On the macroeconomic front, the World Bank on Wednesday revised its growth outlook for India, trimming its forecast by 0.4 percentage points to 6.3% for the current fiscal year. The revision reflects rising global uncertainty, which the institution warned could dampen growth prospects across South Asia.

Buzzing index :

The Nifty FMCG index fell 1.06% to 56,887.55. The index jumped 2.44% in the past two trading session.

Hindustan Unilever (down 4.06%), United Breweries (down 2.99%), Varun Beverages (down 2.96%), Britannia Industries (down 1.68%), United Spirits (down 1.13%), Radico Khaitan (down 0.88%), Marico (down 0.55%), Godrej Consumer Products (down 0.28%), Nestle India (down 0.26%) and ITC (down 0.2%) declined.

On the other hand, Colgate-Palmolive (India) (up 1.39%),Dabur India (up 0.99%) and Tata Consumer Products (up 0.94%) advanced.

Hindustan Unilever (HUL) fell 4.06%. The company reported a 3.61% jump in standalone net profit to Rs 2,493 crore in Q4 FY25, compared with Rs 2,406 crore in the corresponding quarter last year. Revenue from operations rose 2.08% to Rs 15,000 crore in Q4 FY25, compared with Rs 14,693 crore in Q4 FY24. Meanwhile, the company’s board has recommended a final dividend of Rs 24 for the financial year ended 31 March 2025 on equity shares of Rs 1 each.

Nestle India shed 0.26%. The company standalone net profit declined 5.21% to Rs 885.41 crore in Q4 FY25, compared with Rs 934.17 crore posted in Q4 FY24. However, revenue from operations jumped 4.48% to Rs 5,503.9 crore in Q4 FY25 as against Rs 5,267.6 crore posted in Q4 FY24. Meanwhile, the company’s board recommended a final dividend of Rs 10 per equity share of the face value of Rs 1 each for the financial year 2024-25. The record date for the said dividend has been fixed as 4 July 2025.

Tata Consumer Products added 0.94%. The company reported a 52.06% jump in consolidated net profit to Rs 407.07 crore in Q4 FY25 as compared with Rs 267.71 crore in Q4 FY24. Revenue from operations jumped 17.35% to Rs 4,608.22 crore in Q4 FY25 as compared with Rs 3,926.94 crore in Q4 FY24.

Meanwhile, the company’s board has recommended a dividend of Rs. 8.25 per equity share of Rs. 1 each for FY25, which, if approved by the shareholders at the ensuing 62nd Annual General Meeting, will be paid on or after June 21, 2025.

Stocks In Spotlight:

Bajaj Housing Finance rose 0.30%. The company reported a 53.84% rise in standalone net profit to Rs 586.68 crore on a 25.62% increase in revenue from operations to Rs 2,507.96 crore in Q4 FY25, compared with Q4 FY24.

Dalmia Bharat gained 3.96% after the company’s consolidated net profit surged 38.09% to Rs 435 crore in Q4 FY25 as against Rs 315 crore posted in Q4 FY24. However, revenue from operations declined 5.01% YoY to Rs 4,091 crore posted in Q4 FY25.

Persistent Systems shed 0.45% after the company’s net profit advanced 6.1% to Rs 395.76 crore on a 5.87% increase in revenue to Rs 3,242.11 crore in Q4 FY25 over Q3 FY25.

Rallis India dropped 4.31% after the company’s standalone net loss widened to Rs 32 crore in Q4 FY25 as against a net loss of Rs 21 crore reported in Q4 FY24. Revenue from operations declined 1.37% YoY to Rs 430 crore in the quarter ended 31 March 2025. Meanwhile, the company’s board has recommended a dividend of Rs 2.50 per share for the financial year 2024-25. The dividend, if approved by the shareholders at the ensuing Annual General Meeting of the company, will be paid within five days of the AGM.

Vascon Engineers jumped 3.16% after the company received a letter of intent (LoI) worth Rs 85.43 crore from Yucca Promoters LLP, Pune, for the construction of a commercial building at Kalyani Nagar, Pune.

Black Box was locked in 10% upper circuit after the company announced that it had achieved order wins totaling Rs 1,550 crore in Q4 of the financial year 2024–25.

Thyrocare Technologies surged 9.45% after the healthcare service provider reported a 22.05% increase in consolidated net profit to Rs 21.70 crore on a 21.34% rise in revenue from operations to Rs 187.16 crore in Q4 FY25 over Q4 FY24.

Global Markets:

European shares declined on Thursday as investors are digesting earnings releases from Unilever, Banco Sabadell, Sanofi, Eni, BNP Paribas and Dassault Systemes.

Asian market ended mixed, following gains on Wall Street driven by renewed optimism over potential progress in U.S.-China trade relations.

In the latest development, China indicated a willingness to engage in trade talks with the United States. However, it emphasized that it would not participate in negotiations under continued threat of sanctions or tariffs from the U.S. administration. This dual stance contributed to cautious optimism among global investors.

In South Korea, advance estimates released Thursday showed that GDP contracted by 0.1% in the first quarter of 2025, signaling potential economic headwinds in the region.

On Wall Street, the three major indices closed higher overnight, supported by hopes that trade tensions may ease in the near term. Additionally, President Donald Trump signaled that he does not intend to remove Federal Reserve Chair Jerome Powell, a move that appeared to reassure financial markets.

At the close in NYSE, the Dow Jones Industrial Average rose 1.07%, while the S&P 500 index gained 1.67%, and the NASDAQ Composite index added 2.50%.

On Thursday, investors will look for quarterly earnings reports from Alphabet, Intel and PepsiCo. On the economic data front, durable gods orders and weekly jobless claims are also due.