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Bourses trade above neutral lines in early afternoon session
Sep-03-2025

Indian markets traded above neutral lines in early afternoon session as traders preferred to buy stock at low levels. Traders kept close eye towards outcome of the two-day GST Council meeting. Investors were also assessed the latest developments related to trade and tariffs. Besides, traders got some support as Indian services sector growth touched a 15-year high in August, driven by a sharp rise in new orders and output, amid substantial improvement in demand conditions. The seasonally adjusted HSBC India Services PMI Business Activity Index was up from 60.5 in July to 62.9 in August, indicating the steepest rate of expansion since June 2010. 

On the global front, Asian markets were trading mixed even after China's service sector growth accelerated in August driven by the strong upturn in new orders. The headline RatingDog services Purchasing Managers' Index rose unexpectedly to 53.0 in August from 52.6 in July. The street expected the indicator to fall to 52.4. The rate of increase was the fastest seen since May 2024.

The BSE Sensex is currently trading at 80332.89, up by 175.01 points or 0.22% after trading in a range of 80004.60 and 80344.98. There were 19 stocks advancing against 10 stocks declining on the index, while 1 stock remained unchanged. 

The broader indices were trading in green; the BSE Mid cap index gained 0.42%, while Small cap index was up by 0.87%.

The top gaining sectoral indices on the BSE were Metal up by 2.63%, Basic Materials up by 1.49%, Healthcare up by 0.98%, Energy up by 0.68% and Consumer Durables was up by 0.67%, while IT down by 0.62% and TECK down by 0.61% were the only losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 4.99%, Titan Company up by 1.60%, ITC up by 1.07%, Tata Motors up by 1.05% and Mahindra & Mahindra up by 0.90%. On the flip side, Infosys down by 1.07%, TCS down by 0.42%, Bharti Airtel down by 0.31%, Trent down by 0.30% and Tech Mahindra down by 0.20% were the top losers.

Meanwhile, Ministry of Chemicals and Fertilisers has said that extension of the export obligation period for chemical imports under the advance authorisation scheme from 6 to 18 months will provide much-needed relief to exporters amid concerns over steep US tariffs. This measure extends essential support and flexibility to exporters dealing with chemicals and petrochemicals across India. The move is aiming to simplify trade processes and elevate the global market edge of Indian goods.

Through the Advance Authorization Scheme, importers can bring in duty-free raw materials for export production without adhering to quality control orders (QCOs) for those inputs, ensuring a steady flow of export operations. Besides, a significant number of these authorizations cater to the chemical sector, emphasizing the value of this policy shift. Ministry assured that the government is committed to strengthen the chemicals and petrochemicals landscape through targeted strategies, acknowledging its pivotal role in economic growth.

Meanwhile, in 2024-25, the sector has contributed $46.4 billion worth of exports, 46.4 billion, which is 10.6 per cent of the total export value of the country. This initiative aims to ease financial pressures from input costs, guarantee raw material availability, and fortify the competitive position of Indian chemical products worldwide. On the backdrop of US’ steep 50 per cent tariffs on Indian goods entering the US market, the move assumes significance.

The CNX Nifty is currently trading at 24642.70, up by 63.10 points or 0.26% after trading in a range of 24533.20 and 24648.45. There were 32 stocks advancing against 18 stocks declining on the index.

The top gainers on Nifty were Tata Steel up by 5.06%, JSW Steel up by 3.34%, Hindalco up by 2.36%, Titan Company up by 1.56% and Indusind Bank up by 1.44%. On the flip side, HDFC Life Insurance down by 1.34%, Infosys down by 1.22%, TCS down by 0.45%, Shriram Finance down by 0.33% and Trent down by 0.30% were the top losers.

Asian markets were trading mixed; Taiwan Weighted added 83.52 points or 0.35% to 24,100.30, Jakarta Composite gained 60.89 points or 0.78% to 7,862.48 and KOSPI was up by 12.07 points or 0.38% to 3,184.42. On the flip side, Straits Times fell 13.01 points or 0.3% to 4,285.50, Shanghai Composite weakened 48.06 points or 1.25% to 3,810.07, Hang Seng declined 181.55 points or 0.71% to 25,315.00 and Nikkei 225 was down by 380.49 points or 0.91% to 41,930.00.
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