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Key gauges trade lower in morning deals
May-07-2025

Indian equity benchmarks were trading lower in morning deals, after India's military strikes against terrorist camps in Pakistan and Pakistan-Occupied Kashmir increased cross-border tensions. However, losses remain capped as some support came with provisional data from the National Stock Exchange showing that foreign portfolio investors stayed net buyers of Indian equities for the 14th straight session on Tuesday, as they bought stocks worth Rs 3,794.52 crore. The net buying by FPIs on Tuesday is higher as compared to the equities worth Rs 959.68 crore they bought on Monday. Separately, China has imposed anti-dumping duties on cypermethrin imports from India, effective from Wednesday. This decision follows an investigation by Chinese authorities, which concluded that Indian cypermethrin was being dumped and causing significant harm to China's domestic industry. On the global front, Asian markets are trading mostly in green as Beijing announced a raft of policy easing measures and traders cheered news that U.S. and Chinese officials are set to meet this week, potentially paving the way for broader trade talks.

The BSE Sensex is currently trading at 80522.42, down by 118.65 points or 0.15% after trading in a range of 79937.48 and 80844.63. There were 10 stocks advancing against 20 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.02%, while Small cap index was down by 0.34%.

The top gaining sectoral indices on the BSE were Auto up by 0.52%, Power up by 0.26%, Metal up by 0.24%, PSU up by 0.15% and Utilities up by 0.10%, while FMCG down by 0.75%, Realty down by 0.69%, Healthcare down by 0.54%, Telecom down by 0.40% and Basic Materials down by 0.40% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Motors up by 3.02%, Power Grid Corporation up by 1.07%, Bajaj Finance up by 0.46%, SBI up by 0.37% and Titan Company up by 0.32%. On the flip side, Asian Paints down by 1.49%, Ultratech Cement down by 0.92%, Nestle down by 0.87%, Sun Pharma down by 0.83% and Bajaj Finserv down by 0.77% were the top losers.

Meanwhile, Commerce and Industry Minister Piyush Goyal has said that India would impose retaliatory duties if the European Union (EU) goes ahead with its plan to levy a carbon tax on Indian products. Under the EU’s Carbon Border Adjustment Mechanism (CBAM), Indian exports of steel, aluminum, and cement to the EU could face tariffs of 20-35 per cent.

He said that gradually the talks about climate is dwindling and termed the CBAM as ‘very very irrational regulations’. He asserted that the developed countries should share technologies and finances to developing and least developing nations to deal with the issues related to climate change.

He stated ‘If they will put in carbon tax, and now there is a big if for obvious reasons. If they do put it in, we will retaliate. They will put it on products which really will hurt their own economy and the retaliation will further hurt their economy.’ He added ‘I think it will be very silly particularly to put tax on friendly countries. I am in continuous dialogue with them and I am hoping wiser sense will prevail in the EU countries.’

The CNX Nifty is currently trading at 24329.25, down by 50.35 points or 0.21% after trading in a range of 24220.00 and 24449.60. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Tata Motors up by 2.98%, Power Grid Corporation up by 1.30%, SBI up by 0.50%, SBI Life Insurance up by 0.50% and Wipro up by 0.49%. On the flip side, Asian Paints down by 1.53%, Grasim Industries down by 1.21%, Sun Pharma down by 1.13%, Ultratech Cement down by 0.98% and Bajaj Finserv down by 0.88% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 16.69 points or 0.05% to 36,847.38, Hang Seng advanced 111.24 points or 0.49% to 22,773.95, KOSPI increased 8.70 points or 0.34% to 2,568.49, Straits Times rose 2.8 points or 0.07% to 3,863.21, Jakarta Composite gained 58.5 points or 0.85% to 6,956.70 and Shanghai Composite strengthened 21.12 points or 0.63% to 3,337.23.

On the flip side, Taiwan Weighted lost 43.43 points or 0.21% to 20,479.16.
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