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Post Session: Quick Review
May-09-2025

Indian equity markets ended sharply lower on Friday, with both the Nifty and Sensex declining by over 1%, as escalating tensions between India and Pakistan triggered a broad sell-off in riskier assets. Markets made a gap-down opening and remained under immense pressure throughout the trading session, as traders were also cautious about India’s consumer price index (CPI) data, which is due on May 12. 

Some of the important factors in trade:

India, Chile ink terms of reference for comprehensive free trade pact: Investors ignored the report that India and Chile signed the Terms of Reference (ToR) for a Comprehensive Economic Partnership Agreement (CEPA) on May 08, 2025, marking a significant advancement in their bilateral trade relations.

India to cut import duties on PLI-covered medical devices: India will reduce import duties on medical devices covered in the production-linked incentive (PLI) scheme only from the sixth year onward, under its free trade agreement with the UK.

FIIs extends buying spree: 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.

Global front: European markets were trading in green, amid tariff tensions eased and a European Central Bank policymaker signaled a possible interest rate cut next month. Asian markets ended mostly in green after China's exports grew more than expected in April. Exports advanced 8.1 percent on a yearly basis in April, while street had forecast a 1.9 percent rise. 

The BSE Sensex ended at 79454.47, down by 880.34 points or 1.10% after trading in a range of 78968.34 and 80032.93. There were 5 stocks advancing against 25 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 0.10%, while Small cap index down by 0.30%. (Provisional)

The top gaining sectoral indices on the BSE were Capital Goods up by 1.67%, Consumer Durables up by 1.29%, Industrials up by 1.10%, Metal up by 0.17% and PSU up by 0.12%, while Realty down by 2.08%, Utilities down by 1.50%, Power down by 1.11%, Bankex down by 1.04% and Energy down by 0.74% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Titan Company up by 4.25%, Larsen & Toubro up by 4.02%, Tata Motors up by 3.86%, SBI up by 1.39% and Asian Paints up by 0.02%. On the flip side, ICICI Bank down by 3.09%, Power Grid down by 2.61%, Ultratech Cement down by 2.15%, Reliance Industries down by 1.84% and Bajaj Finance down by 1.84% were the top losers. (Provisional)

Meanwhile, the Reserve Bank of India (RBI) has relaxed norms for investments by foreign portfolio investors (FPIs) in corporate debt securities through the general route by withdrawing certain requirements to comply with the short-term investment limit and the concentration limit. The withdrawal was with a view to providing greater ease of investment to FPIs.

At present, investments by FPIs in corporate debt securities through the general route are subject to the short-term investment and concentration limit. General route 1 for investment in government and corporate debt securities by FPIs, subject to specified investment limits and macroprudential limits.

The short-term investment limit refers to the cap on the portion of FPI investments in debt instruments that mature within one year. It was intended to discourage volatile, short-duration foreign inflows. The concentration limit restricted the extent to which an FPI could invest in the debt instruments of a single corporate issuer to reduce the risk of overexposure. 

The CNX Nifty ended at 24008.00, down by 265.80 points or 1.10% after trading in a range of 23935.75 and 24164.25. There were 11 stocks advancing against 39 stocks declining on the index. (Provisional)

The top gainers on Nifty were Titan Company up by 4.18%, Tata Motors up by 3.76%, Larsen & Toubro up by 3.61%, Bharat Electronics up by 2.83% and Hero MotoCorp up by 1.41%. On the flip side, ICICI Bank down by 3.25%, Power Grid down by 2.90%, Grasim Industries down by 2.37%, Shriram Finance down by 2.33% and Ultratech Cement down by 2.30% were the top losers. (Provisional)

European markets were trading higher; France’s CAC rose 51.51 points or 0.67% to 7,745.95, Germany’s DAX gained 117.24 points or 0.5% to 23,469.93 and UK’s FTSE 100 increased 37 points or 0.43% to 8,568.61.

Asian markets settled mostly higher on Friday tracking Wall Streets’ gains overnight and eased concerns over ongoing trade war after the US President Donald Trump unveiled the framework of a trade agreement with the United Kingdom and also signaled upcoming talks with China this week would be more substantial than initially thought. However, Chinese shares dropped despite upbeat April trade data, with exports rising 8.1% in dollar terms compared with a year earlier and imports shrinking 0.2%.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,342.00

-10.00

-0.30

Hang Seng

22,867.74

91.82

0.40

Jakarta Composite

6,832.80

5.05

0.07

KLSE Composite

1,546.50

3.76

0.24

Nikkei 225

37,503.33

574.70

1.53

Straits Times

3,876.16

27.94

0.72

KOSPI Composite

2,577.27

-2.21

-0.09

Taiwan Weighted

20,915.04

371.64

1.78
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