Post Market Update- Markets end in red. Nifty below 24,400

Stocks in the news-

1. KPIT Technologies approved acquisition of 4 Caresoft entities for $191 m

2. Swiggy entered into a strategic agreement with Kouzina Food Tech to scale Co’s food brands.

Earnings-

1. Polycab Q4 net profit up 33% YoY at Rs. 726.6 cr.

2. Kajaria Ceramics Q4 net profit slipped 59% YoY to Rs. 43 cr.

Economic-

1. HSBC India April services PMI came in at 58.7 Vs. 58.5 MoM

2. India April composite PMI came in at 59.7 Vs. 59.5 in March

Indian indices-

The benchmark indices snapped two-day gaining streak on May 06, 2025, led by selling pressure across sectors. Except auto, all other sectoral indices ended in the red. The shares of midcap and smallcap companies strongly tumbled. BSE Midcap and Smallcap indices shed over 2% each. At close, the Sensex was down 155.77 points or 0.19% at 80,641.07. The Nifty was down 81.55 points or 0.33% at 24,379.60.

Rupee ended at 84.43/$ against May 05 close of 84.25/$.

Buzzing stocks on BSE-

1. Cummins fell 5.10% to Rs. 2,790.85, after parent co withdraws guidance on tariff concerns.

2. Alembic Pharmaceuticals slipped 2.46% to Rs. 881.65, after the company's consolidated net profit declined 12.11% to Rs. 156.63 crore in Q4 FY25 as compared with Rs 178.21 crore in Q4 FY24.

3. Vedant Fashions dropped 7.61% to Rs. 730, after the company reported 12.68% decline in consolidated net profit to Rs. 101.10 crore in Q4 FY25 as against Rs. 115.79 crore posted in Q4 FY24.

Global Signals-

Asia-Pacific stocks mixed as investors assess trade developments in the region.

European markets were lower as investors brace for corporate earnings reports.