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Indian stock market opens flat amid stable institutional investments

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Mumbai, May 30: The domestic benchmark indices opened flat on Friday amid negative Asian cues, as selling was seen in the IT and auto sectors in the early trade.

Stable institutional flows — both FII and DII — are keeping the market steady even in the absence of positive triggers. The ongoing consolidation phase is likely to continue in the near-term, according to analysts.

At around 9.29 am, Sensex was trading 11.77 points or 0.01 per cent up at 81,644.79 while the Nifty added 13.20 point or 0.05 per cent at 24,846.80.

Nifty Bank was up 81.20 points or 0.15 per cent at 55,627.25. The Nifty Midcap 100 index was trading at 57,707.65 after rising 250.40 points or 0.44 per cent. Nifty Smallcap 100 index was at 17,927.15 after climbing 37.75 points or 0.21 per cent.

According to analysts, the Nifty posted a smart recovery in the final minutes of trading on Thursday, after spending most of the first half in the red.

“Although the Nifty is still caught in a sideways market defined by the 24,462 and 25,116 range, yesterday’s rebound traced a long lower shadow and a small real body that was closer to the day’s high, and that’s a bullish sign. Immediate support and resistance lie at 24677 and 25000 respectively,” said Akshay Chinchalkar, Head of Research at Axis Securities.

Meanwhile, in the Sensex pack, Infosys, Tech Mahindra, HCL Tech, Bajaj Finance, IndusInd Bank, Bharti Airtel, Titan and Hindustan Unilever Limited were the top losers. Whereas, Adani Ports, Eternal, Maruti Suzuki and Sun Pharma were the top gainers.

In the Asian markets, Hong Kong, Bangkok, Seoul, China and Japan were trading in the red.

In the last trading session, Dow Jones in the US closed at 42,215.73, up 117.03 points, or 0.28 per cent. The S&P 500 ended with a gain of 23.62 points, or 0.40 per cent, at 5,912.17 and the Nasdaq closed at 19,175.87, up 74.93 points, or 0.39 per cent.

“Investors should understand two distinct big trends that will weigh on markets: One, India’s macros are strong and improving. Two, this positive trend in macros is not getting reflected in corporate earnings,” said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd.

This is the fundamental reason for the range-bound movement of the market.

On the institutional front, foreign institutional investors (FIIs) were net buyers as they bought equities worth 884.03 crore on May 29, while domestic institutional investors (DIIs) purchased equities worth 4,286.50 crore.

According to market watchers, steadily improving macros like resilient GDP growth, down trending inflation and interest rates and declining fiscal and current account deficits lay the foundation for a strong economy and earnings recovery in the medium term.

Business

No user fee collection from two-wheelers at toll plazas: Govt

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New Delhi, Aug 21: The government on Thursday clarified that no user fee is levied from two-wheelers at the toll plazas on National Highways and National Expressways across the country.

The clarification came after reports surfaced that the National Highways Authority of India (NHAI) would collect user fees from two-wheeler riders at toll plazas.

“In reference to the fake news circulating on social media regarding toll collection from two wheelers on toll plaza, NHAI would like to clarify that no user fee is levied from two wheelers at the Toll plazas on National Highways and National Expressways across the country,” the Ministry of Road Transport and Highways said in a statement.

User fee on National Highways is collected as per the National Highway Fee (Determination of Rates and Collection) Rules, 2008, and there is no proposal to charge toll fee from the two wheelers, the ministry added.

According to the rules, the user fee at toll plazas is charged from four or more wheeled vehicles which include categories like car, jeep, van or light motor vehicle/light commercial vehicle, light goods vehicle or mini bus/bus or truck/heavy construction machinery (HCM) or earth moving equipment (EME) or multi axle vehicle (MAV) (three to six axles)/ oversized vehicles (seven or more axles.

Meanwhile, the NHAI sold over 5 lakh FASTag-based annual toll permits in just four days, collecting Rs 150 crore in revenue. Tamil Nadu recorded the highest number of purchases of annual passes in four days, followed by Karnataka and Haryana.

Further, Tamil Nadu, Karnataka, and Andhra Pradesh recorded the highest number of transactions through FASTag annual passes at toll plazas, a statement by NHAI said. Private vehicles can now use an annual toll pass for free passage through toll plazas on national highways and expressways, with each pass priced at Rs 3,000.

The annual pass is valid for one year from activation or for 200 toll trips, whichever occurs first.

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Business

India To Clock 6.7% Growth Outpacing RBI Monetary Policy Committee’s 6.5% Recent Forecast

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New Delhi: India is expected to clock 6.7 per cent growth in the first quarter of the current fiscal (FY26), outpacing the RBI Monetary Policy Committee’s (MPC’s) recent forecast of 6.5 per cent, credit rating agency ICRA said on Tuesday.The rating agency report projects the growth in the gross value added (GVA) to stand at 6.4 per cent in Q1 FY2026.

Improved transmission of monetary easing and the recent announcement of forthcoming GST rationalisation may help to shore up urban consumption sentiments ahead of the festive season, the report said.”ICRA estimates a double-digit growth in net indirect taxes (in nominal terms), aided by the sharp uptick in the government of India’s indirect taxes (+11.3 per cent in Q1 FY26 from -3.1 per cent in Q4 FY2025), despite the narrower contraction in its subsidy outgo,” said Aditi Nayar, Chief Economist, Head-Research and Outreach, ICRA.

“Benefitting from robust government capital as well as revenue spending, upfronted exports to some geographies and nascent signals of improved consumption, the pace of expansion in economic activity in Q1 FY2026 is estimated at 6.7 per cent,” Aditi Nayar said.The rating agency estimates the YoY growth in the services GVA to increase to an eight-quarter high of 8.3 per cent in Q1 FY26, from 7.3 per cent in Q4 FY25, supporting the overall GVA expansion in that quarter.

In particular, the combined non-interest revenue expenditure of 24 state governments reported a double-digit YoY growth of 10.7 per cent in Q1 FY26, up from 7.2 per cent in Q4 FY25.Likewise, the Central government’s non-interest revenue expenditure saw a turnaround, recording a YoY growth of 6.9 per cent against a contraction of 6.1 per cent in the previous quarter, said the report.

Rural sentiments, as reflected in the Current Situation Index (CSI) improved further in the July 2025 (100.6) round of the RBI’s Rural Consumer Confidence Survey, reflecting favourable trends in farm output in the last two cropping seasons, and the upbeat outlook for the ongoing kharif season, and a considerable cooling in the rural CPI inflation.

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Indian Railways Introduces Discounted ‘Round Trip Package’ To Ease Festive Season Travel

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New Delhi: To avoid rush by ensuring hassle-free ticket booking experience during the upcoming peak festive seasons, the Ministry of Railways on Saturday said that it has decided to formulate a ‘Round Trip Package’ on discounted fare and rebates benefit.

The move will facilitate passengers and redistribute the peak traffic for a larger range during peak festival seasons and ensure both sides utilisation of trains, including special trains.

“It has been decided to formulate an experimental scheme named as Round Trip Package for festival rush on discounted fare,” the Railways Ministry stated.

According to the ministry, the scheme will be applicable for those passengers who choose their return journey during the prescribed period.

Under this scheme, rebates shall be applicable when booked for both the onward and return journey for the same set of passengers.

Passenger details of the return journey will be the same as those of the onward journey. Passengers can book their tickets from August 14 for the advance reservation period (ARP) date of October 13.

“An onward ticket shall be booked first for the train start date between 13th October 2025 and 26th October 2025, and subsequently return journey ticket shall be booked by using the connecting journey feature for the train start date between 17th November and 1st December 2025,” the Ministry stated.

However, advance reservation period will not be applicable for booking of return journey.

Other conditions to avail the benefits of the railway’s new special scheme are the booking shall be permissible only for confirmed tickets in both directions, total rebates of 20 per cent shall be granted on base fare of return journey only, booking under this scheme shall be for the same class and same O-D pair for both onward and return journey.

According to Railways, no refund of fare shall be permissible for the tickets booked under this scheme.

This scheme shall be allowed for all classes and in all trains, including special trains (Trains on demand), except trains having Flexi fare.

In addition, no modification will be allowed on these tickets in either of the journeys, and there will be no discounts, Rail travel coupons, Voucher-based bookings, or Passes be admissible during return journey booking on concessional fare.

Passenger can book their ticket via both online and offline modes; however, both onward and return journey tickets must be booked using the same mode (online or offline).

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