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Domestic indices trim some gains in late morning deals
May-02-2025

Domestic equity indices trimmed some of their gains in late morning deals on account of profit bookings. However, markets continued to trade higher tracking positive cues from other Asian markets. Sentiments got boost as the commerce ministry in its latest data has showed that India's exports of goods and services hit an all-time high of $825 billion in 2024-25, growing by 6 per cent over the previous year's $778.1 billion, driven by a record surge in the shipments of services that reached $386.5 billion in the last fiscal despite global trade headwinds. Further, support also came in as India’s Goods and Services Tax (GST) collection rose 12.6 per cent year-on-year to an all-time high of about Rs 2.37 lakh crore in April. 

On the global front, Asian markets were trading in green following positive cues from the US markets overnight. Sentiments got boost after China said that it was evaluating possible trade talks with the U.S. Back home, on the BSE sectoral front, traders were seen pilling up positions in IT, Oil & Gas, Energy, Bankex and Auto, while selling was witnessed in Telecom, Consumer Durables, Metal, Healthcare and Power. 

The BSE Sensex is currently trading at 80632.26, up by 390.02 points or 0.49% after trading in a range of 80235.36 and 81177.93. There were 20 stocks advancing against 10 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.03%, while Small cap index up by 0.19%.

The top gaining sectoral indices on the BSE were IT up by 0.94%, Oil & Gas up by 0.94%, Energy up by 0.66%, Bankex up by 0.49% and Auto up by 0.48%, while Telecom down by 1.39%, Consumer Durables down by 0.88%, Metal down by 0.65%, Healthcare down by 0.52%, Power down by 0.27% were the top losing indices on BSE.

The top gainers on the Sensex were Adani Ports up by 5.32%, Maruti Suzuki up by 2.21%, Indusind Bank up by 1.46%, Tata Motors up by 1.41% and Eternal up by 1.38%. On the flip side, Nestle down by 1.49%, Bharti Airtel down by 1.38%, Titan down by 1.22%, Bajaj Finserv down by 1.15% and Kotak Mahindra Bank down by 0.89% were the top losers.

Meanwhile, the Gross Goods and Services Tax (GST) collection increased by 12 per cent in April, reaching to an all-time high of Rs 2.37 lakh crore. According to the government data, the total gross GST revenue was Rs 2.10 lakh crore in April of the current year. The data also showed an uptick of 10.7 per cent in GST revenue from the domestic transactions, reaching to about Rs 1.9 lakh crore. It suggested an increase of 20.8 per cent in revenue from imported goods, to Rs 46,913 crore. 

Central GST collection from domestic transactions stood at Rs 48,634 crore in April, while state GST mop-up was Rs 59,372 crore. Integrated GST and cess collection were Rs 69,504 crore and Rs 12,293 crore, respectively, from domestic transactions. Meanwhile, the refund issuances saw an uptick of a staggering 48.3 per cent to Rs 27,341 crore during the month.

As per the data, the Gross GST collections for March 2025 stayed at Rs 19,56,034 crore (Rs 1.96 lakh crore), surging 9.9 per cent. It also revealed that collections in March were 6.8 per cent higher than the Rs 1.84 lakh crore recorded in the previous month. The GST was introduced in the country with effect from July 1, 2017, and states were assured compensation for loss of any revenue arising on account of the implementation of GST.

The CNX Nifty is currently trading at 24387.30, up by 53.10 points or 0.22% after trading in a range of 24305.85 and 24589.15. There were 27 stocks advancing against 23 stocks declining on the index.

The top gainers on Nifty were Adani Ports up by 5.33%, Maruti Suzuki up by 2.24%, Eternal up by 1.51%, Indusind Bank up by 1.40% and Tata Motors up by 1.30%. On the flip side, JSW Steel down by 4.03%, Eicher Motors down by 2.30%, Cipla down by 1.64%, Nestle down by 1.60% and Bharti Airtel down by 1.40% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 372.88 points or 1.66% to 22,492.29, Jakarta Composite gained 22.69 points or 0.33% to 6,789.49, Straits Times rose 12.63 points or 0.33% to 3,845.14, KOSPI increased 3.77 points or 0.15% to 2,560.38, Nikkei 225 surged 440.96 points or 1.2% to 36,893.26 and Taiwan Weighted added 552.61 points or 2.66% to 20,787.64.
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