Waaree Jumps on Big Order, Steel Duty Woes for Autos, Suzlon Profit Surges
Written by - Fisdom Research
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May 29, 2025
2 minutes
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Market Snapshot
Indian benchmark indices, Sensex and Nifty, rebounded from intraday lows to close higher on May 29, amid a volatile session driven by monthly F&O expiry.
Market gains were broad-based, though FMCG and PSU bank sectors ended in the red.
India VIX fell sharply by 8%, indicating a temporary decline in market volatility and nervousness.
Broader markets showed resilience, with midcap and smallcap indices rising up to 0.5%, reflecting sustained investor confidence.
Positive global cues also supported sentiment, notably after a US federal court blocked former President Trump’s blanket tariffs on imports, boosting global risk appetite.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY METAL
1.2
NIFTY HEALTHCARE INDEX
0.6
NIFTY REALTY
1.1
NIFTY AUTO
0.5
NIFTY PHARMA
0.9
NIFTY PRIVATE BANK
0.5
NIFTY IT
0.8
NIFTY MEDIA
0.2
Top News
Waaree Energies surged 8% after its subsidiary secured a $176 million module supply order, with deliveries starting in FY27.
Auto manufacturers, particularly CV makers like Ashok Leyland, Tata Motors, and M&M, may face margin pressure due to India’s new 12% safeguard duty on certain steel imports.
Suzlon Energy posted a 365% jump in Q4 net profit to ₹1,181 crore, aided significantly by a ₹600 crore deferred tax gain.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
INDUSINDBK
2.5
HDFCLIFE
-1.1
SUNPHARMA
2.0
BEL
-0.8
ETERNAL
1.8
TATACONSUM
-0.7
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,600
25,000
Bank Nifty
54,900
56,000
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