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Key gauges continue sluggish trade in morning session
May-09-2025

Indian equity benchmarks continued their down move in morning session, with the Sensex and the Nifty falling around 690 and 225 points, respectively, as tensions soared between India and Pakistan fuelling fears of a wider conflict. India on Thursday night swiftly thwarted Pakistan's fresh attempts to strike military sites with drones and missiles including in Jammu and Pathankot after foiling similar bids at 15 places in northern and western regions of the country, as tensions soared between the two countries amid fears of a wider conflict. Traders overlooked exchange data showed foreign institutional investors (FIIs) extended their buying spree to the 16th consecutive session, as FIIs bought domestic equities worth Rs 2,008 crore in trade on May 8, 2025. Sector-wise, stocks related to insurance sector remained in watch as General Insurance Council reported that general insurance companies recorded 14% YoY growth in premiums to Rs 30,662 crore, while standalone health insurance companies posted an 11% YoY growth to Rs 2,932.8 crore. On the global front, Asian markets are trading mostly in green after US President Donald Trump announced a trade deal with the UK and signaled tariffs on Chinese goods may fall if upcoming talks go well.

The BSE Sensex is currently trading at 79647.17, down by 687.64 points or 0.86% after trading in a range of 78968.34 and 80032.93. There were 4 stocks advancing against 26 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 1.01%, while Small cap index was down by 1.57%.

The top gaining sectoral indices on the BSE were Capital Goods up by 1.20%, Consumer Durables up by 0.79% and Industrials up by 0.39%, while Realty down by 3.04%, Utilities down by 2.00%, Power down by 1.79%, FMCG down by 1.30% and Telecom down by 1.06% were the top losing indices on BSE.

The top gainers on the Sensex were Titan Company up by 4.28%, Larsen & Toubro up by 3.56%, Tata Motors up by 2.76% and Asian Paints up by 0.11%. On the flip side, Power Grid Corporation down by 2.24%, Ultratech Cement down by 2.17%, ICICI Bank down by 1.87%, Nestle down by 1.69% and Hindustan Unilever down by 1.67% were the top losers.

Meanwhile, Competition Commission of India (CCI) has notified the regulations for determining the cost of production, a move that will help the watchdog to more effectively assess alleged predatory pricing and deep discounting practices especially in the quick commerce and e-commerce segments. As part of efforts to update the framework for assessing predatory pricing, the watchdog came out with the draft rules in February.

After stakeholders’ consultations, the Competition Commission of India (Determination of Cost of Production) Regulations, 2025 have been notified. The development also assumes significance against the backdrop of CCI looking at some complaints of unfair business practices made against quick commerce as well as e-commerce players.

Competition law prohibits predatory pricing as an abusive conduct by a dominant enterprise. CCI now has a strong regulatory framework to deal with alleged predatory pricing and deep discounting activities in the market place. It will also help in assessing the complaints against some quick commerce and e commerce entities. Rather than prescribing sector-specific metrics, the new framework allows for case-by-case assessment. This will enable the watchdog to consider the unique features and evolving dynamics of digital markets when evaluating alleged predatory conduct.

The CNX Nifty is currently trading at 24048.90, down by 224.90 points or 0.93% after trading in a range of 23935.75 and 24164.25. There were 7 stocks advancing against 43 stocks declining on the index.

The top gainers on Nifty were Titan Company up by 4.06%, Larsen & Toubro up by 3.51%, Bharat Electronics up by 3.22%, Tata Motors up by 2.52% and Hero MotoCorp up by 1.14%. On the flip side, JIO Financial Serv. down by 2.96%, Power Grid Corporation down by 2.63%, Ultratech Cement down by 2.25%, Shriram Finance down by 2.06% and ICICI Bank down by 2.03% were the top losers. 

Asian markets are trading mostly in green; Nikkei 225 surged 569.4 points or 1.54% to 37,498.03, Taiwan Weighted added 344.69 points or 1.68% to 20,888.09, Hang Seng advanced 1.9 points or 0.01% to 22,777.82, Straits Times rose 22.81 points or 0.59% to 3,871.03 and Jakarta Composite gained 17.22 points or 0.25% to 6,844.97.

On the flip side, Shanghai Composite weakened 8.62 points or 0.26% to 3,343.38 and KOSPI dropped 0.66 points or 0.03% to 2,578.82. 
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