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Domestic indices add more losses in late morning deals
Jul-10-2025

Domestic equity indices added more losses in late morning deals on account of selling by funds and retail investors. Selling in Bharti Airtel, Tech Mahindra, HCL Technologies, Infosys and Sun Pharma companies’ stocks dragged the markets more. Traders were cautious after a private report stated that US President Donald Trump’s threat to impose new tariffs on India over its participation in the BRICS forum puts New Delhi in a tough position as it races to finalize a favorable trade deal with the US. On the BSE sectoral front, traders were seen pilling up positions in Realty, Utilities, Metal and Power, while selling was witnessed in TECK, IT, Healthcare, Auto and Capital Good. 

On the global front, Asian markets were trading mostly in green following positive cues from the US markets overnight. Back home, in the stock specific development, Emcure Pharmaceuticals rose as USFDA issued Form 483 with Zero observations  

The BSE Sensex is currently trading at 83243.87, down by 292.21 points or 0.35% after trading in a range of 83189.12 and 83742.28. There were 8 stocks advancing against 22 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index was down by 0.25%, while Small cap index up by 0.03%.

The top gaining sectoral indices on the BSE were Realty up by 0.50%, Utilities up by 0.23%, Metal up by 0.09% and Power up by 0.02%, while TECK down by 0.91%, IT down by 0.84%, Healthcare down by 0.65%, Auto down by 0.39% and Capital Goods down by 0.38% were the top losing indices on BSE.

The top gainers on the Sensex were Maruti Suzuki up by 0.73%, Tata Steel up by 0.63%, Ultratech Cement up by 0.42%, Axis Bank up by 0.37% and Bajaj Finance up by 0.33%. On the flip side, Bharti Airtel down by 1.49%, Tech Mahindra down by 1.36%, HCL Technologies down by 1.05%, Infosys down by 0.97% and Sun Pharma down by 0.96% were the top losers.

Meanwhile, Finance Minister Nirmala Sitharaman has asked non-banking financial companies (NBFCs) not to aggressively market or push loans to customers. She said financial inclusion cannot be used as a pretext for ‘financial exploitation’ and added that the lending should be based on the genuine needs and repayment capacity of customers. She also asked NBFCs to adhere to the Reserve Bank of India's loan recovery norms strictly, and keep interest rates at reasonable levels. 

Sitharaman said there should be deep collaboration between NBFCs and banks, especially through co-lending arrangements for providing loans to the priority sector. She said loans should not be aggressively marketed or pushed onto individuals, and stressed that the recovery process should be fair, empathetic and in a respectful manner, in strict accordance with the RBI's Fair Practices Code. She said as the NBFC model matures, the focus on risk management should increase.

The minister further emphasised that liquidity and credit risks must be rigorously assessed and managed, while robust internal controls should ensure oversight on asset-liability mismatches, nature and tenor of the funding sources, and concentration risks. A sustainable business model must be the cornerstone of the sector's growth, and at the heart of a sustainable credit landscape lies a financially aware and literate customer. Loan book of NBFCs has doubled to Rs 48 lakh crore in March 2025 in the past four years from Rs 24 lakh crore. They currently account for about 24 per cent of the volume of credit disbursed by commercial banks and the aim should be to reach 50 per cent. NBFCs are no longer 'shadow banks' -- their stronger regulation and oversight is the best testimony of their importance in the financial system and the broader economy.

The CNX Nifty is currently trading at 25377.50, down by 98.60 points or 0.39% after trading in a range of 25363.70 and 25524.05. There were 13 stocks advancing against 37 stocks declining on the index.

The top gainers on Nifty were Maruti Suzuki up by 0.74%, Tata Steel up by 0.64%, JIO Financial up by 0.50%, Ultratech Cement up by 0.47% and Indusind Bank up by 0.45%. On the flip side, Bharti Airtel down by 1.51%, Cipla down by 1.49%, Tech Mahindra down by 1.39%, Infosys down by 1.11% and HDFC Life Insurance down by 1.07% were the top losers. 

Asian markets were trading mostly in green; Hang Seng advanced 84.96 points or 0.35% to 23,977.28, Jakarta Composite gained 58.02 points or 0.83% to 7,001.94, Shanghai Composite strengthened 22.79 points or 0.65% to 3,515.84, Straits Times rose 17.11 points or 0.42% to 4,074.93, KOSPI increased 39.61 points or 1.25% to 3,173.35 and Taiwan Weighted added 121.91 points or 0.54% to 22,648.92. However, Nikkei 225 slipped 268.93 points or 0.68% to 39,552.35.
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