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Key indices extend losses in morning deals
Apr-25-2025

Indian equity benchmarks extended losses in morning deals, as investor sentiment was hit by the ongoing uncertainty over India-Pakistan relations after terror attacks in Kashmir. Traders took a note of Federation of Indian Export Organisations’ (FIEO) statement that with Pakistan suspending all trade ties with India, including that routes through third countries, the two-way commerce will now come to a complete halt. Traders overlooked exchange data showed that Foreign Institutional Investors (FIIs) bought equities worth Rs 8,250.53 crore on Thursday. Sector-wise, steel stocks remained in watch as Steel Secretary Sandeep Pondrik stated that the government is taking all measures to ensure that the quality and price of steel are right, even as he sounded confident of the country achieving the target of having 300-million tonnes steel production by 2030. On the global front, Asian markets are trading higher as traders hoped for favorable outcome from ongoing trade negotiations and comments by a Federal Reserve official bolstered odds that the central bank will cut interest rates as early as June.

The BSE Sensex is currently trading at 79120.61, down by 680.82 points or 0.85% after trading in a range of 78905.49 and 80130.66. There were 3 stocks advancing against 27 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 2.25%, while Small cap index was down by 2.73%.

The top losing sectoral indices on the BSE were Power down by 2.68%, Utilities down by 2.64%, Industrials down by 2.47%, Telecom down by 2.41% and PSU down by 2.38%, while there were no gaining sectoral indices on the BSE. 

The top gainers on the Sensex were TCS up by 0.85%, Infosys up by 0.73% and Indusind Bank up by 0.23%. On the flip side, Axis Bank down by 4.18%, Adani Ports &SEZ down by 3.30%, Bajaj Finance down by 2.81%, Bajaj Finserv down by 2.58% and NTPC down by 2.44% were the top losers.

Meanwhile, rating agency ICRA has said that Indian aviation industry’s outlook for 2025-26 remains stable, driven by expectations of moderate growth in domestic air passenger traffic and a relatively stable cost environment. The domestic air passenger traffic is estimated to grow at 7-10 per cent in 2025-26. However, the yields for airline operators are likely to be under pressure, as airlines strive to maintain adequate passenger load factor (PLF). International passenger traffic for Indian carriers is expected to grow by 15-20 per cent in 2025-26.

It stated ‘The movement in the yields will remain monitorable, amid elevated aviation turbine fuel (ATF) prices and depreciation of the INR vis-a-vis the USD over pre-Covid levels, both of which have a major bearing on the airlines’ cost structure.’ Fuel cost accounts for 30-40 per cent of the airlines’ expenses, while 35-50 per cent of the operating expenses, including aircraft lease payments, fuel expenses and a significant portion of aircraft and engine maintenance expenses, are denominated in dollar terms.

Moreover, it said the airlines’ efforts to effect fare hikes, proportionate to their input cost increase, will be the key to expand their profit margins. Further, it asserted that the industry’s net losses to remain range-bound. The pace of recovery in industry earnings is likely to be gradual, owing to the high fixed-cost nature of the business.

The CNX Nifty is currently trading at 24024.00, down by 222.70 points or 0.92% after trading in a range of 23950.15 and 24365.45. There were 5 stocks advancing against 45 stocks declining on the index.

The top gainers on Nifty were SBI Life Insurance up by 4.86%, Infosys up by 0.74%, TCS up by 0.71%, Indusind Bank up by 0.31% and ICICI Bank up by 0.01%. On the flip side, Axis Bank down by 4.16%, Adani Ports &SEZ down by 3.32%, Adani Enterprises down by 3.12%, Trent down by 2.95% and Bharat Electronics down by 2.65% were the top losers.

All Asian markets are trading higher; Nikkei 225 surged 609.96 points or 1.74% to 35,649.11, Taiwan Weighted added 444.25 points or 2.28% to 19,923.06, Hang Seng advanced 297.06 points or 1.34% to 22,206.82, KOSPI increased 25.10 points or 1% to 2,547.43, Straits Times rose 2.85 points or 0.07% to 3,834.77, Jakarta Composite gained 51.08 points or 0.77% to 6,664.56 and Shanghai Composite strengthened 4.9 points or 0.15% to 3,302.19. 
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