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Key gauges extend losses in morning deals
Jul-11-2025

Indian equity benchmarks extended losses in morning deals, amid heavy selling in IT shares following the earnings announcement of Tata Consultancy Services (TCS), while uncertainty over the India-US trade deal also weighed on investor sentiments. Traders took a note of domestic ratings agency Crisil’s statement that private asset reconstruction companies' assets under management (AUM), measured in terms of security receipts, is set to decline by up to 6 per cent in FY26 to Rs 1.05 lakh crore as redemptions are outpacing acquisitions. It said this is on top of a 15 per cent decline in the AUM in FY25, pitching for a slew of changes that such entities need to adopt going forward. Traders overlooked exchange data showed Foreign Institutional Investors (FIIs) bought equities worth Rs 221.06 crore on Thursday. On the global front, Asian markets are trading higher even as U.S. President Donald Trump pushed through with his tariff agenda, fueling uncertainties around the global tariff war.

The BSE Sensex is currently trading at 82765.69, down by 424.59 points or 0.51% after trading in a range of 82743.57 and 83040.74. There were 9 stocks advancing against 21 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.47%, while Small cap index was down by 0.37%.

The top gaining sectoral indices on the BSE were FMCG up by 0.93%, Healthcare up by 0.59%, Basic Materials up by 0.11%, Metal up by 0.09% and Utilities up by 0.09%, while TECK down by 1.30%, IT down by 1.22%, Capital Goods down by 1.13%, Oil & Gas down by 1.07% and Telecom down by 1.06% were the top losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 4.44%, Sun Pharma up by 0.92%, Asian Paints up by 0.90%, Ultratech Cement up by 0.70% and Axis Bank up by 0.46%. On the flip side, Mahindra & Mahindra down by 2.27%, TCS down by 2.16%, Bharat Electronics down by 1.69%, Bharti Airtel down by 1.28% and Reliance Industries down by 1.25% were the top losers.

Meanwhile, the International Monetary Fund’s (IMF) Fintech Note titled 'Growing Retail Digital Payments: The Value of Interoperability' has said that India now makes faster payments than any other country with the quick growth of Unified Payments Interface (UPI), and the usage of other instruments, including debit and credit cards, is on the decline. Unified Payments Interface is an instant and real-time payment system developed by NPCI to facilitate inter-bank transactions through mobile phones.

It said that since its launch in 2016, UPI has grown quickly, while some proxies for cash usage have begun to decline. UPI now processes more than 18 billion transactions per month and dominates other electronic retail payments in India. The note presents evidence consistent with this framework using granular data covering the universe of transactions on India's UPI, an interoperable platform that has become the world's largest retail fast payment system by volume.

It said that interoperable payment systems, such as UPI, are alternatives to closed-loop systems that could also foster the adoption of digital payments. Such systems allow for seamless payments between users of different payment providers. It said ‘Importantly, total digital payments also rise relative to a proxy for cash usage.’ Further, it said that estimating cash usage is difficult because cash transactions can occur anonymously and may not be recorded in any ledger, especially in the informal sector.

It said ‘However, we can approximate cash usage with the value of automated teller machine (ATM) withdrawals in each district. When we measure the impact of integration on transaction values relative to cash withdrawals, we find a very similar picture.’ It added This evidence suggests that interoperability can indeed support the adoption of digital payments and encourage a transition away from cash.

The CNX Nifty is currently trading at 25239.20, down by 116.05 points or 0.46% after trading in a range of 25231.50 and 25322.45. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Hindustan Unilever up by 4.55%, SBI Life Insurance up by 1.45%, Asian Paints up by 0.95%, Sun Pharma up by 0.82% and Tata Consumer Product up by 0.73%. On the flip side, Mahindra & Mahindra down by 2.35%, TCS down by 2.07%, Wipro down by 1.94%, Bharat Electronics down by 1.70% and Apollo Hospital down by 1.49% were the top losers.

Asian markets are trading higher; Nikkei 225 surged 1.3 points to 39,647.66, Taiwan Weighted added 72.21 points or 0.32% to 22,765.46, Hang Seng advanced 457.12 points or 1.87% to 24,485.49, KOSPI increased 0.42 points or 0.01% to 3,183.65, Straits Times rose 18.53 points or 0.45% to 4,094.23, Jakarta Composite gained 30.23 points or 0.43% to 7,035.60 and Shanghai Composite strengthened 36.82 points or 1.04% to 3,546.50.
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