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Bourses witness more recovery in early afternoon session
Jul-31-2025

Indian markets witnessed some more recovery in early afternoon session as traders preferred to buy stocks at lower levels. Traders took note of report that Global Trade Research Initiative (GTRI) has said that US President Donald Trump's announcement to impose a 25 per cent tariff and penalty on Indian goods may seem severe but the country is not in a worse position than nations that signed trade deals with Washington. Sector wise, sugar sector remained in limelight as National Federation of Cooperative Sugar Factories (NFCSFL) in its report said that India's sugar production declined 18.38 per cent to 25.82 million tonnes till July in the current season ending October, down from the year-ago period. On the global front, Asian markets were trading mostly in red as Bank of Japan maintained its interest rate on Thursday and lifted its inflation outlook citing the rise in food prices. The policy board unanimously decided to hold the uncollateralized overnight call rate to remain at around 0.5 percent.

The BSE Sensex is currently trading at 81446.09, down by 35.77 points or 0.04% after trading in a range of 80695.15 and 81449.56. There were 11 stocks advancing against 19 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined by 0.61%, while Small cap index was down by 0.37%.

The only gaining sectoral indices on the BSE was FMCG up by 1.14% and Bankex up by 0.10%, while Telecom down by 1.17%, Oil & Gas down by 1.10%, Energy down by 0.99%, Realty down by 0.88% and Healthcare was down by 0.76% were the top losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 3.43%, Power Grid up by 1.11%, Eternal up by 0.82%, ITC up by 0.74% and Mahindra & Mahindra up by 0.50%. On the flip side, Asian Paints down by 1.00%, Titan Company down by 0.92%, Reliance Industries down by 0.91%, Bharti Airtel down by 0.84% and TCS down by 0.62% were the top losers.

Meanwhile, Global Trade Research Initiative (GTRI) has said that US President Donald Trump's announcement to impose a 25 per cent tariff and penalty on Indian goods may seem severe but the country is not in a worse position than nations that signed trade deals with Washington. It said the UK, the EU, Japan, Indonesia, and Vietnam now face elevated tariffs, and in return, have given sweeping concessions --zero tariffs on US farm goods, massive investment pledges, and purchases of American oil, gas, and arms. India has made no such concessions.

GTRI Founder Ajay Srivastava has said that while Trump's announcement of a 25 per cent tariff plus penalty on Indian goods appears harsh, a closer look shows that India is not significantly worse off than countries that did sign deals with the US. He added that India did not walk away from the deal and it negotiated in good faith but refused to cross its red lines particularly on agriculture, where over 700 million livelihoods are at stake.

He said Trump's justification for India's tariffs, trade barriers, and ties with Russia does not stand up to scrutiny, he said, adding that India's tariffs are WTO-compliant, non-tariff barriers are common globally, and discounted Russian oil has helped India manage inflation during global volatility. India is not alone; over 90 countries face similar US pressure. A deal may still emerge, but only on fair terms. For now, India's principled stand has avoided the trap of a one-sided deal -- and that's a success.  

The CNX Nifty is currently trading at 24846.55, down by 8.50 points or 0.03% after trading in a range of 24635.00 and 24850.00. There were 19 stocks advancing against 30 stocks declining on the index, while 1 stock remained unchanged. 

The top gainers on Nifty were Hindustan Unilever up by 3.43%, JIO Financial up by 2.97%, JSW Steel up by 1.31%, Power Grid up by 1.18% and Eternal up by 0.97%. On the flip side, Adani Enterprises down by 1.22%, Asian Paints down by 1.11%, Titan Company down by 0.94%, Reliance Industries down by 0.93% and Cipla down by 0.91% were the top losers.

Asian markets were trading mostly in red; Hang Seng declined 416.93 points or 1.66 to 24,760.00, Shanghai Composite weakened 42.04 points or 1.16 to 3,573.68, Straits Times fell 37.89 points or 0.9 to 4,181.52, Jakarta Composite plunged 23.5 points or 0.31 to 7,526.39 and KOSPI was down by 9.03 points or 0.28 to 3,245.44. On the flip side, Taiwan Weighted added 80.8 points or 0.34 to 23,542.52 and Nikkei 225 was up by 453.3 points or 1.1 to 41,108.00.
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