Trendlyne Marketwatch
Trendlyne Marketwatch
09 Jun 2025
Market closes higher, Bank of Baroda cuts lending rate by 50 bps to 8.15%
By Trendlyne Analysis

 

Nifty 50 closed at 25,103.20 (100.2, 0.4%), BSE Sensex closed at 82,445.21 (256.2, 0.3%) while the broader Nifty 500 closed at 23,330.55 (165.5, 0.7%). Market breadth is surging up. Of the 2,483 stocks traded today, 1,673 were gainers and 772 were losers.

Indian indices closed higher after gains in the morning session. The Indian volatility index, Nifty VIX, rose 0.5% and closed at 14.7 points. Kalpataru Projects International closed in the green after bagging new orders worth ~Rs 3,789 crore in the buildings and factories (B&F) and transmission & distribution (T&D) segments in India and overseas..

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, tracking the benchmark index. S&P BSE Utilities and S&P BSE IPO were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Hardware Technology Equipment emerged as the best-performing sector of the day, with a rise of 3%.

European indices are trading in the red, except Spain’s IBEX 35 and Switzerland’s SMI indices, which are trading 0.3% and 0.4% higher, respectively. Major Asian indices closed in the green, except Australia’s S&P ASX 200 and Thailand’s SET indices, which closed 0.3% lower and flat, respectively. US index futures are trading flat, indicating a cautious start to the session ahead of fresh trade talks between the US and China, and release of the inflation numbers later in the week.

  • Piramal Pharma sees a long buildup in its June 26 futures series, with open interest increasing by 47% and a put-call ratio of 0.2.

  • Olectra Greentech’s Chairman and Managing Director (MD), K V Pradeep, tenders his resignation, due to personal reasons.

  • Bank of Baroda rises after it cuts Baroda Repo Linked Lending Rate (BRLLR) by 50 bps to 8.15%, effective June 7, after a reduction in the benchmark repo rate.

  • Life Insurance Corp of India rises as the Ministry of Finance appoints MD Sat Pal Bhanoo as the new Chief Executive Officer (CEO) and Managing Director (MD), succeeding Siddhartha Mohanty, for three months, effective June 8.

  • Puneet Gupta, Director for India & ASEAN Auto Market at S&P Global Mobility, highlights that India’s auto industry faces a new wave of disruption, as growth projections for 2025 come under pressure from China’s export curbs on rare earth magnets. He warns that potential production halts due to these restrictions could lead the industry into negative growth.

  • Eternal and Swiggy fall up to 4% after Rapido reportedly plans to launch a food delivery pilot in Bengaluru by month-end. Reports suggest Rapido is onboarding restaurants and plans to offer a flat Rs 25 delivery fee on orders below Rs 400, with an 8–15% commission for delivery partners.

  • Bajaj Finance rises to its all-time high of Rs 9,788 as its board of directors sets June 16 as the record date for its 4:1 bonus issue and 1:2 stock split.

  • Kernex Microsystems is rising as it receives a Rs 182.8 crore order from Western Railways to deploy Kavach system.

  • Wipro rises as reports suggest, 20.2 crore shares (2% equity), amounting to Rs 5,057 crore, change hands in a block deal.

  • UPL’s Brazil unit, Advanta Comercio, sells all assets of its associate company, Serra Bonita Sementes, for $125 million.

  • JSW Steel is rising as its consolidated steel production grows 8% YoY to 22.7 lakh tonnes in May. Capacity utilisation at its Indian operations stands at 80% in the month.

  • Tata Motors is rising as it projects a 40% market share in the commercial vehicle segment, implying a gain of 650 bps from its current level. The company also expects a double-digit EBITDA margin in its passenger EV business by FY27, up from the current 8.1%.

  • Cement stocks such as Dalmia Bharat and Nuvoco are declining amid concerns over the potential impact of the West Bengal government's decision to withdraw several incentives. Dalmia Bharat states that incentives worth Rs 236 crore granted to its wholly-owned subsidiary, Dalmia Cement (Bharat), may be affected. The company is currently reviewing the situation and exploring legal options.

  • HDFC Bank cuts its marginal cost of lending rate (MCLR) by 10 bps across all tenures, effective June 7. The revised MCLR, applicable to loans like home loans, now ranges from 8.9% to 9.1%.

  • Larsen & Toubro's heavy civil infrastructure (HCI) unit receives a significant order worth Rs 1,000–2,500 crore from JSW Energy. The order involves civil-related work for the 1500 MW Bhavali pumped storage project (PSP) in Maharashtra.

  • Lupin receives tentative approval from the US FDA for its abbreviated new drug application (ANDA) for Oxcarbazepine ER tablets. The tablet is used to treat seizures and has annual sales of $206 million as of April 2025, according to IQVIA.

  • Kotak Institutional Equities warns of a significant disconnect between the fundamentals and valuations of railway stocks like IRCON and RVNL. The brokerage notes these PSU stocks trade at high P/E multiples and several times their book value, which is difficult to justify given their financials and limited growth prospects. Kotak also sees no major pickup in railway capex to support such steep valuations.

  • RailTel Corporation is rising as it receives an order worth Rs 243.1 crore from the Bihar Education Department to supply student kits for students in classes 1-12 in government schools.

  • MCX rises sharply as the Securities and Exchange Board of India (SEBI) approves the introduction of electricity derivatives. The electricity derivatives contracts will enable power generation, distribution, and consumer companies to hedge against price volatility and manage price risks.

  • Suzlon Energy is rising as 19.8 crore shares (1.4% stake) worth approximately Rs 1,309 crore reportedly change hands in a block deal at an average price of Rs 64.7 per share. Promoters Tanti Family & Trust are likely the sellers in the transaction.

  • Arun Misra, CEO and Whole-time Director of Hindustan Zinc, emphasizes that silver demand is exceeding supply and expects this shortfall to continue through 2030. He projects that silver prices could rise to $41–42 per ounce by early 2027. Additionally, he mentions that the company may revise its silver volume guidance by July 2025.

  • Bikaji Foods International is rising as it receives approval from the National Company Law Tribunal (NCLT) to merge Vindhyawasini Sales with itself.

  • Kalpataru Projects International rises as it bags a new order worth ~Rs 3,789 crore. This includes its biggest order in the buildings and factories (B&F) segment in India to build over 12 million square feet of residential space with related facilities. The company also wins power transmission and distribution (T&D) orders in overseas markets.

  • PNC Infratech is rising as it receives an order worth Rs 239.9 crore from PWD-Rajasthan to construct a flyover from Heeradas Chouraha to Kumher Gate Chouraha in Bharatpur city.

  • Afcons Infrastructure secures an order worth Rs 700 crore from Reliance Industries (RIL) to execute construction work for Vinyl Projects in Dahej, Gujarat.

  • Nifty 50 was trading at 25126.20 (123.2, 0.5%), BSE Sensex was trading at 82,574.55 (385.6, 0.5%) while the broader Nifty 500 was trading at 23,301.45 (136.4, 0.6%).

  • Market breadth is surging up. Of the 2,056 stocks traded today, 1,697 were on the uptrend, and 314 went down.

Riding High:

Largecap and midcap gainers today include Coromandel International Ltd. (2,411.20, 4.9%), Indian Renewable Energy Development Agency Ltd. (183.24, 4.8%) and Hindustan Zinc Ltd. (525, 4.5%).

Downers:

Largecap and midcap losers today include APL Apollo Tubes Ltd. (1,883, -2.0%), Eternal Ltd. (256.84, -1.9%) and Berger Paints (India) Ltd. (571.50, -1.7%).

Volume Shockers

25 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Capri Global Capital Ltd. (181.34, 19.3%), Westlife Foodworld Ltd. (738, 10.6%) and Five-Star Business Finance Ltd. (800.80, 9.6%).

Top high volume losers on BSE were Century Plyboards (India) Ltd. (773.85, -2.0%) and Chemplast Sanmar Ltd. (425.05, -0.2%).

G R Infraprojects Ltd. (1,394.50, 8.8%) was trading at 17.5 times of weekly average. JBM Auto Ltd. (735.30, 3.9%) and Happiest Minds Technologies Ltd. (615.85, 4.6%) were trading with volumes 12.3 and 12.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

23 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Bajaj Finance Ltd. (9,607.50, 2.5%), Bank of India (129.31, 4.0%) and City Union Bank Ltd. (204.67, 1.7%).

39 stocks climbed above their 200 day SMA including Five-Star Business Finance Ltd. (800.80, 9.6%) and G R Infraprojects Ltd. (1,394.50, 8.8%). 4 stocks slipped below their 200 SMA including BLS International Services Ltd. (384.45, -3.6%) and Century Plyboards (India) Ltd. (773.85, -2.0%).

 
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