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Bourses trade near neutral lines in afternoon session
May-07-2025

Indian markets traded near neutral lines with negative bias in afternoon session with rising geopolitical tensions. India launched missile strikes on terrorist hideouts in Pakistan and Pakistan-Occupied Kashmir. Besides, investors were looking forward to US Federal Reserve's policy outcome, which is due later in the day. However, losses were limited as India and the UK clinched a 'landmark' trade deal that will remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in a bid to double trade between the two economies to $120 billion by 2030. On the global front, Asian markets were trading mostly in green as U.S. and Chinese officials are set to start formal trade talks this week.

The BSE Sensex is currently trading at 80587.20, down by 53.87 points or 0.07% after trading in a range of 79937.48 and 80844.63. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 1.10%, while Small cap index was up by 0.81%.

The top gaining sectoral indices on the BSE were Auto up by 1.26%, Metal up by 1.25%, Consumer Durables up by 1.07%, Power up by 1.07% and Consumer discretionary was up by 0.90%, while FMCG down by 0.43%, Healthcare down by 0.10% and TECK was down by 0.01% were the few losing indices on BSE.

The top gainers on the Sensex were Tata Motors up by 4.21%, Titan Company up by 1.81%, Power Grid up by 1.20%, Adani Ports up by 1.19% and Bajaj Finance up by 1.14%. On the flip side, Sun Pharma down by 1.57%, ITC down by 1.10%, Asian Paints down by 1.04%, Nestle down by 0.91% and HCL Tech down by 0.85% were the top losers.

Meanwhile, Finance Minister Nirmala Sitharaman has said that government's policies have been tailored in a way to support manufacturing and the service sector growth. She said about 60 per cent of India's Gross Domestic Product (GDP) is contributed by the services sector.  The minister said ‘our approach is to strengthen ourselves more on the basis of the assets that we have, whether it is in the form of human capital or technology in which we have a lead, if I can say that way, and also in sectors in which we think we can build further’. 

She noted that India has about 600 million people who are less than 25 years of age and so the country is enjoying demographic dividend. She said ‘so, looking at levers which we want to fully use, whether it is technology or manpower, the government's policies have been tailored in such a way that we are able to support manufacturing and the service sector in which India has a lead’.

With regard to manufacturing, Sitharaman said India needs to steadily increase its share in GDP from current 12-13 per cent to 18 per cent. To boost manufacturing in the country, she said India is focussing on 14 priority sectors or sunrise sectors like electronics, semi-conductors and pharma. Any additional manufacturing capacity in these sectors gets the advantage of Production Linked Incentive. She further said that India wants to build any sustainable supply chain link with the global supply chain using the assets including soft skills that India have. She said ‘we have taken a long-term approach towards the supply chain keeping in mind our strategic strengths and making sure that India's capacities are leveraged.’ 

The CNX Nifty is currently trading at 24374.10, down by 5.50 points or 0.02% after trading in a range of 24220.00 and 24449.60. There were 26 stocks advancing against 24 stocks declining on the index.

The top gainers on Nifty were Tata Motors up by 4.18%, Coal India up by 1.74%, Titan Company up by 1.65%, Shriram Finance up by 1.64% and SBI Life up by 1.56%. On the flip side, Sun Pharma down by 1.62%, ITC down by 1.08%, HCL Tech down by 1.05%, Asian Paints down by 1.03% and Indusind Bank down by 0.97% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 122.19 points or 0.54% to 22,784.90, Jakarta Composite gained 53.48 points or 0.78% to 6,951.68, Taiwan Weighted added 23.9 points or 0.12% to 20,546.49, Shanghai Composite strengthened 19.73 points or 0.59% to 3,335.84, KOSPI increased 14.01 points or 0.54% to 2,573.80 and Straits Times was up by 0.22 points or 0.01% to 3,860.63. On the flip side, Nikkei 225 was down by 51.03 points or 0.14% to 36,779.66.
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