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Bourses trade near day’s low levels in early afternoon session
Jul-10-2025

Indian markets traded near day’s low levels in early afternoon session ahead of US President Donald Trump’s tariff policy updates and the domestic Q1FY26 earnings season. IT major -TCS is scheduled to announce its results later today. Besides, the weekly F&O expiry is also scheduled for today. Traders overlooked Secretary of Ministry of Ports, Shipping and Waterways, Government of India T.K. Ramachandran’s, statement that India has become the fourth-largest economy, having surpassed $4 trillion and is witnessing a rapid surge in foreign investments. On the global front, Asian markets were trading mostly in green as the Bank of Korea left its interest rate unchanged, citing risks associated with rising household debt and escalating trade tensions. Besides, Malaysia's central bank lowered its key interest rate for the first time in five years to underpin economic growth amid the ongoing trade tariff uncertainty. 

The BSE Sensex is currently trading at 83189.54, down by 346.54 points or 0.41% after trading in a range of 83151.65 and 83742.28. There were 6 stocks advancing against 23 stocks declining on the index, while 1 stock remained unchanged. 

The broader indices were trading in red; the BSE Mid cap index declined 0.40%, while Small cap index was down by 0.07%.

The top gaining sectoral indices on the BSE were Utilities up by 0.32%, Realty up by 0.22%, Metal up by 0.16% and Power was up by 0.05%, while TECK down by 1.05%, IT down by 0.91%, Telecom down by 0.59%, Capital Goods down by 0.52% and Healthcare was down by 0.50% were the top losing indices on BSE.

The top gainers on the Sensex were Maruti Suzuki up by 0.87%, Tata Steel up by 0.53%, Bajaj Finance up by 0.44%, Axis Bank up by 0.40% and Ultratech Cement up by 0.14%. On the flip side, Bharti Airtel down by 1.67%, Tech Mahindra down by 1.41%, HCL Tech down by 1.13%, Infosys down by 1.12% and Mahindra & Mahindra down by 1.11% were the top losers.

Meanwhile, the rating agency Crisil has said that the growth of education loan for Indian non-banking finance companies (NBFCs) to slow down by 50% in FY26 owed to policy uncertainty in the United States. Further, it added that, the measures including reduced visa appointments and the proposed elimination of Optional Practical Training norms have reduced newer loan originations. This has led to a around 30% decline in total disbursements to that geography last fiscal. Besides, disbursements linked to Canada which is second-largest market, has declined as student visa rules turned stricter, including increased financial requirements via proof of available funds, and cap on permits. Therefore, the overall education loan disbursements in fiscal 2025 was up by only around 8% as compared to around 50% in fiscal 2024.

In the last fiscal, the education loan AUM of NBFCs grew 48% to Rs 64,000 crore, following an even faster 77% growth in fiscal 2024. Meanwhile, Crisil noted that the growth in education loan AUM of NBFCs has been moderating to around 25% to around Rs 80,000 crore. It added that the high growth in the past few years and estimated around 15% of the portfolio coming out of contractual moratorium this fiscal, pose some asset quality risks.

However, offset these headwinds, the NBFCs are diversifying into new geographies and product adjacencies. Crisil highlighted that the disbursements linked to courses in the UK, Germany, Ireland and smaller countries have doubled in the past fiscal as students opted for alternative destinations. Moreover, NBFCs are also looking at domestic student loans and adjacencies such as school funding, loans for skill development, certification and coaching.

The CNX Nifty is currently trading at 25396.35, down by 79.75 points or 0.31% after trading in a range of 25357.20 and 25524.05. There were 15 stocks advancing against 35 stocks declining on the index.

The top gainers on Nifty were Maruti Suzuki up by 1.14%, JIO Financial up by 0.94%, Indusind Bank up by 0.93%, Tata Steel up by 0.78% and Bajaj Finance up by 0.64%. On the flip side, Bharti Airtel down by 1.86%, Cipla down by 1.35%, Tech Mahindra down by 1.26%, Wipro down by 1.21% and Infosys down by 1.00% were the top losers.

Asian markets were trading mostly in green; Taiwan Weighted added 166.24 points or 0.73% to 22,693.25, Hang Seng advanced 114.12 points or 0.48% to 24,006.44, KOSPI increased 49.49 points or 1.55% to 3,183.23, Jakarta Composite gained 46.3 points or 0.66% to 6,990.22, Shanghai Composite strengthened 18.33 points or 0.52% to 3,511.38 and Straits Times was up by 15.73 points or 0.39% to 4,073.55. On the flip side, Nikkei 225 was down by 174.92 points or 0.44% to 39,646.36.
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