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Domestic indices add more losses in late morning deals
Jul-14-2025

Domestic equity indices added more losses in late morning deals as markets participants indulged in reducing their positions. Traders were cautious amid ongoing concerns over global trade tariffs. U.S. President Donald Trump 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. Some cautiousness also prevailed in markets as the Reserve Bank of India (RBI) said India's forex reserves dropped by $3.049 billion to $ 699.736 billion in the week ended July 4. On the BSE sectoral front, traders were seen pilling up positions in Healthcare, Utilities, Power, Metal and Basic Materials, while selling was witnessed in IT, TECK, Industrials, Capital Goods and Telecom.

On the global front, Asian markets were trading mostly in green as the Singapore Department of Statistics said that Singapore's gross domestic product expanded a seasonally adjusted 5.6 percent on quarter in the second quarter of 2025. That beat expectations for an increase of 0.7 percent following the 2.6 percent contraction in the three months prior.  Back home, in the stock specific development, Gland Pharma rose after the company received a Good Manufacturing Practices certification from the Danish Medicines Agency for its Pashamylaram facility in Telangana. 

The BSE Sensex is currently trading at 82138.46, down by 362.01 points or 0.44% 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 in green; the BSE Mid cap index was up by 0.30%, while Small cap index up by 0.14%.

The top gaining sectoral indices on the BSE were Healthcare up by 0.62%, Utilities up by 0.51%, Power up by 0.32%, Metal up by 0.17% and Basic Materials up by 0.12%, while IT down by 1.09%, TECK down by 1.01%, Industrials down by 0.37%, Capital Goods down by 0.24% and Telecom down by 0.20% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 2.35%, Sun Pharma up by 0.55%, Mahindra & Mahindra up by 0.42%, SBI up by 0.41% and ITC up by 0.37%. On the flip side, Bajaj Finance down by 1.52%, Infosys down by 1.50%, Tech Mahindra down by 1.43%, Asian Paints down by 1.38% and HCL Technologies down by 1.32% were the top losers. 

Meanwhile, the government data has showed that large-scale electronics manufacturing and pharmaceuticals cornered about 70 per cent of the total fiscal incentive disbursements in 2024-25 under the production-linked incentive (PLI) schemes. The scheme was introduced in 2021 to support domestic manufacturing across 14 sectors with an outlay of Rs 1.97 lakh crore. In 2024-25, the government has disbursed a total of Rs 10,114 crore. PLI firms in the electronics sector received Rs 5,732 crore, while pharmaceutical drugs received Rs 2,328 crore. In 2023-24, the disbursals stood at Rs 9,721 crore. The figures highlight the country's growing strength in these segments amid efforts to boost manufacturing and value-added exports.

Data further stated that besides these two, the other sectors that received these incentives in the last fiscal include bulk drugs (Rs 22 crore), Medical Devices (Rs 77 crore), Telecom (Rs 840 crore), Food Processing (Rs 448 crore), White Goods (Rs 210 crore), Automobiles (Rs 322 crore), Specialty Steel (Rs 48 crore), Textiles (Rs 40 crore) and Drones (Rs 35 crore). The PLI in the electronics sector have helped significantly boost domestic manufacturing and exports. Now, this sector is included in the top three product categories that India exports globally.

According to the data, the country's electronic goods shipment saw the highest export growth rate at 32.46 per cent, jumping from $29.12 billion in 2023-24 to $38.58 billion in the last fiscal year. It was $23.6 billion in 2022-23 and $15.7 billion in 2021-22. Within this, computer hardware and peripherals, which form 3.8 per cent of the sector, saw 101 per cent growth, doubling from $0.7 billion to $1.4 billion in 2024-25. The main destinations for electronic goods were the UAE, the US, the Netherlands, the UK, and Italy. Indian drugs and pharmaceuticals are reaching over 200 countries now. These exports increased by about 10 per cent to $30.5 billion in 2024-25.

The CNX Nifty is currently trading at 25036.35, down by 113.50 points or 0.45% after trading in a range of 25019.75 and 25151.10. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Eternal up by 2.26%, Adani Enterprises up by 0.82%, Indusind Bank up by 0.72%, Grasim Industries up by 0.67% and Sun Pharma up by 0.56%. On the flip side, JIO Financial down by 1.80%, Wipro down by 1.72%, Bajaj Finance down by 1.55%, Infosys down by 1.52% and Tech Mahindra down by 1.45% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 59.75 points or 0.25% to 24,199.32, Jakarta Composite gained 36.91 points or 0.52% to 7,084.35, Shanghai Composite strengthened 11.88 points or 0.34% to 3,522.06, Straits Times rose 13.09 points or 0.32% to 4,100.90 and KOSPI increased 23.27 points or 0.73% to 3,199.04. However, Nikkei 225 slipped 1.07 points or 0% to 39,568.61 and Taiwan Weighted lost 177.22 points or 0.79% to 22,573.81.
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