Highlights: Flat Monday for Sensex and Nifty, broader markets outperform; Adani Ports is the big winner while banks bleed

The markets closed on a higher note. The Nifty 50 finished 113.7 points or 0.47% higher at 24,460 while the BSE Sensex closed 319 points or 0.40% higher at 80,821.

The share price of Samvardhan Motherson International rose 4% to an intra-day high of Rs 137.74 on the National Stock Exchange. IT was the top gainer in the Nifty Auto index, which was up 1.75%. It was moved up by the gains of Mahindra & Mahindra stocks. Samvardhan Motherson was followed by Tata Motors.

The sectoral index Nifty Private Bank was the only index to trade in the green in Monday’s strong market. The Nifty Private Bank fell 0.91% to 27,165.65 level as Kotak Mahindra Bank‘s shares slumped 5%. The banking stock was trading lower as its quarterly performance was muted on setting aside higher provisions for potential bad loans.

In intraday trading so far, benchmark indices are holding firm in the green. The Sensex has advanced 335 points to hover around 80,837, while the Nifty is up by 125 points, trading near the 24,472 mark.

The sectoral index Nifty Auto rose 1.23% to 22,614.20 level in Monday’s trade. All the constituents of the index were trading in the green. Motherson Sumi was leading the charts, which was followed by Mahindra & Mahindra, Exide Industries, Tube Investments of India, and TVS Motor Company.

In intraday trade on Monday, mid and small-cap stocks showed momentum, with the BSE MidCap index climbing 412.47 points to 43,120.34 and the BSE SmallCap index gaining 391.26 points to reach 47,756.80.

Reliance Industries and HDFC Bank are the top index movers of the Nifty 50. The main reason behind the upsurge in Reliance Industries’ share price was the fall in crude oil prices as OPEC+ announced to hike production. ITC, Bajaj Finance, and Adani Ports followed the suit.

The share price of State Bank of India fell 2.25% to an intra-day low of Rs 782 on the National Stock Exchange after it reported its Q4FY25 earnings. It reported a net profit drop of 10% YoY for the fourth quarter of FY25 at Rs 18,642.59 crore, compared with a net profit of Rs 20,698.35 crore in Q4FY24. Its net interest income grew 2.7% YoY to Rs 42,774.55 crore. Meanwhile, the net interest margin dropped by 32 basis points YoY to 3.15%, compared to 3.47% in Q4FY24.

Mahindra & Mahindra (M&M) saw a positive start to the day, with its stock gaining nearly 1% in early trade, currently priced around Rs 2,946.50. Investors are now eagerly awaiting the company’s Q4FY25 earnings announcement, which is set to take place this afternoon. As per a recent filing with the stock exchanges, the company’s Board of Directors is scheduled to meet and approve both standalone and consolidated audited financial results for the quarter.

Read more: Mahindra & Mahindra shares up 1%: 5 things to know ahead of Q4FY25 earnings

Zomato, renamed as Eternal has caught investor attention once again. Despite stiff competition in the segment, brokerage firm Anand Rathi remains optimistic, reiterating a ‘Buy’ call on the stock. While it slightly lowered its target price to Rs 300, the firm highlighted Eternal’s focus on long-term strategy and consistent execution as key strengths that could drive future growth.

Read more: Can Blinkit power Zomato’s growth? 4 reasons why Anand Rathi recommends ‘Buy’

In the early hours of Monday’s session, the Sensex 30 pack saw a positive start, with Adani Ports emerging as the top gainer. The stock climbed by 4.12%. Bajaj Finserv also saw healthy buying, rising 2.74%, while Asian Paints gained 2.63% in morning trade.

Other notable gainers included Eternal, which rose by 2.03%, and Tata Motors, which edged up 1.34%.

The Nifty Oil & Gas rose 1.29% to trade at 11,406.55 level. All the major constituents of the index were trading in the green. It was the top gainer among the sectoral indices. Hindustan Petroleum was the top gainer in the Nifty Oil & Gas, which was followed by BPCL, IGL, and many other stocks.

Kotak Mahindra Bank’s share price dropped 4.4% to a low of Rs 2,088.40 on the National Stock Exchange. The brokerages downgraded the stock as the bank reported a muted Q4FY25. However, they raised the target price on the stock. Nomura downgraded the stock to ‘Neutral’ from ‘Buy’, however, raised the target price slightly to Rs 2,200.

The markets opened on a higher note. The Nifty 50 opened 0.46% higher at 24,458 while the BSE Sensex opened 0.44% or 353 points higher at 80,855.51. The Nifty Midcap 100 was up 0.75% or 400 points higher to open at 54,105.

“Friday’s early gains for the Nifty didn’t stick, and as a result, the market finished flat. The bearish intraday reversal occurred from a significant resistance level and generated a candle with a long upper shadow, showing a rejection from buyers. That said, the near-term path will be determined by whether the index is able to close above Friday’s high or low first. Support lies between 24,050-24,200 while resistance sits between 24,700 and 24,872,” said Akshay Chinchalkar, Head of Research at Axis Securities.

“Gold and silver witnessed heightened volatility last week, driven by profit booking as the U.S. dollar rebounded and optimism resurfaced around U.S.-China trade negotiations. Both metals dropped to 3-week lows following comments by the U.S. President indicating renewed talks with India, Japan, South Korea, and China. The dollar index, rebounding from multi-month lows, touched the 100 mark again, adding further pressure on precious metals. Mixed U.S. economic data also influenced market sentiment while non-farm payrolls exceeded expectations and triggered selling in bullion, weak Q1 GDP growth and elevated jobless claims offered some support at lower levels,” said Rahul Kalantri, VP Commodities, Mehta Equities.

“Now investors are waiting for Fed meeting outcome scheduled this week. Gold has support at $3235-3210 while resistance at $3282-3298. Silver has support at $31.80-31.60 while resistance is at $32.40-32.65. In INR gold has support at Rs92,350-91,980 while resistance at Rs93,350-93,790. Sliver has support at Rs92,380-91,550 while resistance at Rs93,950 -94,450,” he added.

“Nifty witnessed wild swings on Friday, surging at the open, tumbling mid-session on heavy unwinding, and finally rebounding to close in the green. The sentiment reflects investors’ hope for easing geopolitical tensions and a pause in the US-China trade war. As we kick off the week, Gift Nifty hints at strong optimism backed by a solid US jobs report, Wall Street’s nine-day rally, and FIIs buying over Rs 40,000 crore in the last 12 sessions. Technically, bulls are targeting 24,858 on the Nifty. Stocks in focus today include DLF, Apollo Tyres, Sun Pharma, RailTel, Godrej Properties, and JSW Steel, along with Coforge, M&M, and Paytm ahead of their Q4 results,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

A host of companies across sectors are set to announce their financial results for the final quarter of FY24-25 today. The list includes names like Mahindra & Mahindra, Coforge, Indian Hotels Company, Bombay Dyeing & Manufacturing Company, CCL Products, Computer Age Management Services, and Capri Global Capital. Also in focus are Ethos, Cigniti Technologies, Jammu & Kashmir Bank, Unicommerce Esolutions, Nureca, and Zee Media Corporation.

Stocks to watch today include State Bank of India, Adani Enterprises, Gensol Engineering, Tata Consultancy Services, Swiggy, Kotak Mahindra Bank, Avenue Supermarts, and IRCON International, as investors track key developments.

Read more: From SBI, Gensol Engineering, Adani Enterprises to Avenue Supermarts- Here are 8 stocks to watch

Global oil prices have hit their lowest point since February 2021, with Brent crude slipping below the $59 per barrel mark on Monday. So far in 2025, oil prices have seen a sharp 20.8% decline, making it the worst performance since the COVID-era crash in 2020.

At the heart of this slide is a surge in oil production at a time when demand growth remains shaky. OPEC+, the powerful oil producers group, surprised markets in April by rolling back previous output cuts. The group has now increasing production by 411,000 barrels per day in June, marking a second straight month of rising supply. Adding to the pressure is US President Donald Trump’s aggressive trade stance his latest round of tariffs has sparked fresh concerns about a potential global slowdown.

Kotak Mahindra Bank reported a 14% YoY drop in net profit at Rs 3,551.7 crore for Q4FY25 while its net interest income (NII) rose 4.5% YoY to Rs 7,283.6 crore. The lender’s total income grew 6.8% YoY to Rs 3,182.5 crore, while total expenditure surged 14.4% YoY to Rs 11,240 crore. Its net interest margin (NIM) stood at 4.96% for FY25 and 4.97% for Q4FY25.

Foreign institutional investors (FII) were the net buyers of shares worth Rs 2,769.81 crore. Meanwhile, the Domestic institutional investors (DII) were the net sellers of shares worth Rs 3,290.49 crore on May 02, 2024, according to the provisional data available on the NSE.

State Bank of India, the country’s biggest lender by assets, has clocked a 10% drop in its Q4FY25 net profit on the back of narrower net interest margin growth. Its Q4 net profit came in at Rs 18,643 crore as against a record profit of Rs 20,698 crore in Q4FY24. The bank’s net interest income, or the difference between interest earned on loans and paid on deposits, increased 2.7% to Rs 42,775 crore compared with Rs 41,655 crore in Q4FY24, up 2.69%.