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Domestic indices trade flat with negative bias in late morning deals
Apr-16-2025

Domestic equity indices traded flat with negative bias in late morning deals on account of selling in Maruti Suzuki, Infosys, Sun Pharma, Tata Motors and Tech Mahindra companies’ stocks. Weak cues from the global markets weighed on the domestic sentiments. Traders were cautious as India's trade deficit increased sharply in March 2025 to $3.63 billion, as against $1.92 billion in the same month of 2024. However, losses remained capped as retail inflation dipped marginally to a nearly six-year low of 3.34 per cent in March due to decline in prices of vegetables, eggs and protein-rich items. On the BSE sectoral front, traders were seen pilling up positions in PSU, Bankex, Oil & Gas, Industrials and Telecom, while selling was witnessed in IT, Metal, Auto, TECK and Basic Materials. 

On the global front, Asian markets were trading mostly in red as traders remained cautious amid the continuing uncertainty prevailing over the size and the scope of the new reciprocal tariffs on imports in to the US. Back home, in the stock specific development, Gensol Engineering slumped as capital market regulator barred the company and its promoters from trading, citing fund diversion.

The BSE Sensex is currently trading at 76720.67, down by 14.22 points or 0.02% after trading in a range of 76543.77 and 77000.63. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.47%, while Small cap index up by 0.77%.

The top gaining sectoral indices on the BSE were PSU up by 0.87%, Bankex up by 0.84%, Oil & Gas up by 0.79%, Industrials up by 0.57% and Telecom up by 0.56%, while IT down by 0.47%, Metal down by 0.46%, Auto down by 0.34%, TECK down by 0.22% and Basic Materials down by 0.01% were the top losing indices on BSE.

The top gainers on the Sensex were Indusind Bank up by 5.58%, Axis Bank up by 3.61%, Asian Paints up by 1.03%, ITC up by 0.68% and Power Grid up by 0.44%. On the flip side, Maruti Suzuki down by 1.28%, Infosys down by 1.14%, Sun Pharma down by 0.99%, Tata Motors down by 0.92% and Tech Mahindra down by 0.90% were the top losers.

Meanwhile, with recently undertaken supportive regulatory measures, a boost to consumption from tax cuts and softer interest rates, the rating agency Crisil has expected that bank credit to grow up to 13 percent in FY26 compared to 11 percent growth in FY25. It expects corporate credit, which accounts for 41 per cent of the bank books, to grow at 9-10 per cent in FY26, as against 8 per cent in the year-ago period, primarily led by higher disbursements to non-bank finance companies. 

The agency added that the corporate credit growth will also benefit with downstream demand from the ongoing infrastructure buildout, especially from the cement, steel and aluminium sectors. However, Crisil has warned that the ongoing tariff wars could make companies cautious about borrowings.

The rating agency estimates retail credit, which accounts for nearly a third of the overall loans in the system, to grow at 13-14 per cent in FY26 supported by improved affordability in a lower interest rate regime in the largest segment of mortgage loans. It expects small businesses and agriculture loans to witness steady growth at 16-17 per cent and 11-12 per cent. Crisil expects the Reserve Bank of India’s (RBI's) measures on liquidity to help banks on the deposit growth in the new fiscal.

The CNX Nifty is currently trading at 23326.45, down by 2.10 points or 0.01% after trading in a range of 23273.05 and 23372.75. There were 24 stocks advancing against 26 stocks declining on the index.

The top gainers on Nifty were Indusind Bank up by 5.48%, Axis Bank up by 3.86%, Trent up by 2.01%, HDFC Life Insurance up by 1.80% and ONGC up by 1.68%. On the flip side, Hindalco down by 1.90%, Maruti Suzuki down by 1.48%, JSW Steel down by 1.08%, Infosys down by 1.07% and Tata Motors down by 1.07% were the top losers.

Asian markets were trading mostly in red; Hang Seng declined 581.11 points or 2.78% to 20,885.16, Jakarta Composite plunged 8.4 points or 0.13% to 6,433.28, Shanghai Composite weakened 21.17 points or 0.65% to 3,246.49, KOSPI dropped 31.43 points or 1.28% to 2,445.98, Nikkei 225 slipped 505.1 points or 1.5% to 33,762.44 and Taiwan Weighted lost 389.67 points or 2% to 19,468.00. However, Straits Times rose 0.34 points or 0.01% to 3,625.06.
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