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Markets trade lower amid selling in IT, Teck stocks; CPI, WPI data eyed
Jul-14-2025

Indian equity benchmarks made a cautious start on Monday amid renewed concerns about U.S. President Donald Trump's escalating trade battles. Trump on Saturday threatened to impose a 30 percent tariff on imports from Mexico and the European Union starting on August 1, even as they are locked in long negotiations. Soon, markets have extended their losses and are trading lower in early deals amid selling in IT and Teck stocks. Traders were concerted as the RBI said that India's forex reserves dropped by $3.04 billion to $699.73 billion in the week ended July 4, 2025. Besides, the Government data showed that net direct tax collection fell 1.34 per cent to about Rs 5.63 lakh crore till July 10 of the current financial year, mainly on account on higher refunds. Traders also remained cautious ahead of India's June Consumer Price Index (CPI) Wholesale Price Index (WPI) data to be out later in the day. 

On the global front, Asian markets are trading mostly higher amid hopes of an end to the uncertainty about U.S. reciprocal tariffs on its trade partners by August 1, though US President Donald Trump is escalating the trade battle. Besides, the Cabinet Office said the value of core machinery orders in Japan was down a seasonally adjusted 0.6 percent on month in May - coming in at 913.5 billion yen. That beat forecasts for a contraction of 1.4 percent following the 9.1 percent decline in April. 

The BSE Sensex is currently trading at 82183.31, down by 317.16 points or 0.38% after trading in a range of 82109.44 and 82537.87. There were 10 stocks advancing against 20 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index rose 0.08%, while Small cap index was down by 0.25%.

The top gaining sectoral indices on the BSE were Metal up by 0.19%, Utilities up by 0.16%, Power up by 0.14%, Oil & Gas up by 0.12% and Energy up by 0.08%, while TECK down by 0.94%, IT down by 0.89%, Telecom down by 0.65%, Industrials down by 0.38% and Capital Goods down by 0.24% were the top losing indices on BSE.

The top gainers on the Sensex were Sun Pharma up by 0.53%, Eternal up by 0.42%, SBI up by 0.35%, NTPC up by 0.31% and ITC up by 0.08%. On the flip side, Bajaj Finance down by 2.08%, Infosys down by 1.20%, Bajaj Finserv down by 1.07%, Tech Mahindra down by 0.99% and Bharti Airtel down by 0.95% were the top losers.

Meanwhile, the government data has showed that net direct tax collection fell 1.34 per cent to about Rs 5.63 lakh crore between April 1 to July 10 of the current financial year, over Rs 5.70 lakh crore collected in the year-ago period. The net direct tax collection fell mainly on account of higher refunds. 

Net corporate tax collection stood around Rs 2 lakh crore, while non-corporate tax (which includes individuals, HUFs and firms) was at Rs 3.45 lakh crore. Securities transaction tax mop-up was Rs 17,874 crore between April 1 to July 10. Net refunds issued so far this fiscal year jumped 38 per cent to Rs 1.02 lakh crore.

Gross collections (before refunds) stood at Rs 6.65 lakh crore from April 1-July 10, posting a 3.17 per cent growth over Rs 6.44 lakh crore in the year-ago period. In the current fiscal year, the government has projected its direct tax collections at Rs 25.20 lakh crore, up 12.7 per cent year-on-year. The government aims to collect Rs 78,000 crore from STT in FY26.

The CNX Nifty is currently trading at 25090.00, down by 59.85 points or 0.24% after trading in a range of 25041.90 and 25151.10. There were 23 stocks advancing against 27 stocks declining on the index.

The top gainers on Nifty were Indusind Bank up by 1.39%, Hindalco up by 0.83%, Eternal up by 0.78%, Sun Pharma up by 0.77% and Coal India up by 0.68%. On the flip side, Bajaj Finance down by 1.97%, HCL Technologies down by 1.09%, Infosys down by 1.06%, Tech Mahindra down by 1.00% and Wipro down by 0.95% were the top losers.

Asian markets are trading mostly in green; Jakarta Composite gained 34.64 points or 0.49% to 7,082.08, Straits Times rose 15.73 points or 0.38% to 4,103.54, Shanghai Composite strengthened 15.22 points or 0.43% to 3,525.40, KOSPI increased 13.69 points or 0.43% to 3,189.46 and Hang Seng was up by 12.5 points or 0.05% to 24,152.07. On the other hand, Taiwan Weighted lost 160.6 points or 0.71% to 22,590.43 and Nikkei 225 was down by 11.53 points or 0.03% to 39,558.15.
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