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Domestic indices remain flat in late morning deals
Jul-08-2025

Domestic equity indices remained flat in late morning deals as investors remained cautious amid global uncertainty following U.S. President Donald Trump's announcement of steep import tariffs on key trading partners. Meanwhile, broader indices largely underperformed their large peers with BSE Mid cap and Small cap index falling in the rage of 0.55-0.65%. Traders overlooked report that Finance Minister Nirmala Sitharaman said India's policy response to trade and financial restrictions has focused on diversifying markets, spurring infrastructure-led growth, and implementing structural reforms to bolster competitiveness and productivity. On the BSE sectoral front, traders were seen pilling up positions in Bankex, Utilities, Oil & Gas, Power and PSU, while selling was witnessed in Consumer Durables, Healthcare, Auto, Telecom and Consumer Disc.

On the global front, Asian markets were trading mostly in green despite negative cues from the US markets overnight. Back home, in the stock specific development, shares of Navin Fluorine International rose after the company announced the launch of its qualified institutional placement (QIP) to raise Rs 750 crore.

The BSE Sensex is currently trading at 83460.60, up by 18.10 points or 0.02% after trading in a range of 83320.95 and 83561.80. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.57%, while Small cap index down by 0.64%.

The top gaining sectoral indices on the BSE were Bankex up by 0.53%, Utilities up by 0.15%, Oil & Gas up by 0.14%, Power up by 0.12% and PSU up by 0.11%, while Consumer Durables down by 1.74%, Healthcare down by 1.20%, Auto down by 1.01%, Telecom down by 0.77% and Consumer Disc down by 0.68% were the losing indices on BSE.

The top gainers on the Sensex were Kotak Mahindra Bank up by 3.10%, Eternal up by 1.70%, Bharat Electronics up by 1.17%, NTPC up by 0.73% and Power Grid up by 0.54%. On the flip side, Titan down by 5.18%, Trent down by 2.03%, Sun Pharma down by 1.64%, Mahindra & Mahindra down by 1.09% and Maruti Suzuki down by 1.03% were the top losers.

Meanwhile, Crisil Ratings in its latest report has said that debt securitisation volumes have inched up to Rs 49,000 crore during April-June 2025 (Q1FY26) as compared to Rs 45,000 crore recorded in the year-ago period. It said the total number of originators in these securitisations, wherein a lender hands over future receivables on a single or a bunch of loans to a new entity usually on a discount, was around 90.

According to the report, issuances by non-banking financial companies (NBFCs), led by large players, posted a strong on-year growth of 24 per cent, and this helped offset the lower origination volume by banks. NBFC originations contributed to 92 per cent of the market in Q1FY26, compared to 74 per cent in FY25. The share of top-20 NBFC originators increased to 67 per cent in first quarter this fiscal compared to 56 per cent in the corresponding quarter of last fiscal. 

It said in the case of banks, where a few large private sector lenders lead originations, the activity was low on steady improvement in the overall credit-deposit ratio. From an asset class perspective, vehicle loans (including commercial vehicles and two-wheelers) held steady at 41 per cent, while mortgage-backed loans decreased to around 21 per cent from 25 per cent on year, attributing the decline to lower volumes originated by a large private bank. 

The report said lifting of regulatory curbs on a leading originator led to the share of gold-loan securitisation to surge to 11 per cent in Q1 from virtually negligible levels year-ago. Share of pass-through certificates (PTCs) rose to a decadal high of 58 per cent, while that of direct assignments (DAs) dropped to 42 per cent. Banks continue to be the mainstay when it comes to the investors, and private sector banks investing in a mix of DA and PTCs, with public sector banks are largely focused on DAs. It added that securitisation continues to be an attractive fund raising tool for financiers. Healthy retail credit growth, timely transmission of policy rate cuts and private sector banks' participation will be key to improve and sustain growth momentum of securitisation volumes this fiscal. 

The CNX Nifty is currently trading at 25447.65, down by 13.65 points or 0.05% after trading in a range of 25424.15 and 25495.90. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Kotak Mahindra Bank up by 2.96%, Eternal up by 1.76%, Bharat Electronics up by 1.14%, Grasim Industries up by 1.12% and Power Grid up by 0.54%. On the flip side, Titan down by 5.16%, Dr. Reddy's Lab down by 2.62%, Trent down by 1.99%, Cipla down by 1.94% and Bajaj Auto down by 1.92% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 171.72 points or 0.71% to 24,059.55, Shanghai Composite strengthened 22.62 points or 0.65% to 3,495.75, Straits Times rose 18.69 points or 0.46% to 4,050.55, KOSPI increased 54.87 points or 1.76% to 3,114.34 and Nikkei 225 surged 136.59 points or 0.34% to 39,724.27. However, Taiwan Weighted lost 66.45 points or 0.3% to 22,362.27 and Jakarta Composite plunged 0.33 points or 0% to 6,900.60.
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