Key gauges continue to trade lower in morning deals

Indian equity benchmarks continued to trade with deep cuts in morning deals, amid fears of US President Donald Trump slapping reciprocal tariffs on multiple countries, including India. Besides, unabated foreign fund outflows continued to unnerve investors. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,486.41 crore on Tuesday, according to exchange data. Investors remained on sidelines ahead of the upcoming domestic economic data - consumer price index (CPI) and index of industrial production (IIP) - to be released later in a day. Sector-wise, stocks related to Agriculture sector remained in watch as Agriculture Minister Shivraj Singh Chouhan said the government has employed artificial intelligence (AI) to address various challenges in the agriculture sector and aid farmers. On the global front, Asian markets are trading mixed as investors await U.S. CPI data and Fed Chair Jerome Powell's testimony before the House Financial Services Committee later in the day for more insight on interest rates, trade tariffs and economic outlook.  

The BSE Sensex is currently trading at 75623.64, down by 669.96 points or 0.88% after trading in a range of 75388.39 and 76409.27. There were 5 stocks advancing against 25 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 2.28%, while Small cap index was down by 2.97%.

The top losing sectoral indices on the BSE were Power down by 2.57%, Realty down by 2.49%, Industrials down by 2.42%, PSU down by 2.27% and Consumer Durables down by 2.21%, while there were no gaining sectoral indices on the BSE. 

The top gainers on the Sensex were Tech Mahindra up by 0.71%, TCS up by 0.52%, Hindustan Unilever up by 0.44%, Larsen & Toubro up by 0.29% and Sun Pharma up by 0.21%. On the flip side, Zomato down by 3.46%, Adani Ports &SEZ down by 2.94%, Indusind Bank down by 2.75%, Mahindra & Mahindra down by 2.74% and Power Grid Corporation down by 2.68% were the top losers.

Meanwhile, with an aim to further increase India's exports, Minister of State for Commerce and Industry Jitin Prasada has said that the government has identified 20 countries of significance and 6 focus sectors each in commodities and services. He added that a meeting with the officers of the commercial wings of Indian Missions in these 20 countries was organised last month to enhance exports. The meeting focused on exploring strategic solutions for fostering multilateral trade collaboration and streamlining operational and logistical barriers to trade.

The minister said a set of actionable strategies designed to propel Indian exports forward were recommended, which included the establishment of a comprehensive Data Analytics Portal to explore emerging market opportunities and the 'E-connect Portal' aimed at supporting Small and Medium Enterprises (SMEs) with market access information.

He added that the Missions were urged to support the One District One Product (ODOP) initiatives in their respective countries of posting, focusing on improving branding, enhancing market access and ensuring better income for farmers through increased exports. The 20 countries include France, Germany, Australia, China, Bangladesh, Brazil, Japan, Indonesia, Italy, Singapore, the Netherlands, South Africa, Russia, Trkiye, Vietnam, UK, South Korea, UAE, Saudi Arabia and the US.

The CNX Nifty is currently trading at 22856.40, down by 215.40 points or 0.93% after trading in a range of 22798.35 and 23097.95. There were 7 stocks advancing against 43 stocks declining on the index.

The top gainers on Nifty were Tech Mahindra up by 0.79%, TCS up by 0.59%, Tata Consumer Product up by 0.53%, Hindustan Unilever up by 0.38% and Apollo Hospital up by 0.38%. On the flip side, Bharat Electronics down by 3.51%, Adani Ports &SEZ down by 3.00%, Mahindra & Mahindra down by 2.93%, Indusind Bank down by 2.79% and Power Grid Corporation down by 2.58% were the top losers.

Asian markets are trading mixed; Nikkei 225 surged 87.59 points or 0.23% to 38,888.76, Hang Seng advanced 331.94 points or 1.53% to 21,626.80, KOSPI increased 7.03 points or 0.28% to 2,546.08 and Jakarta Composite gained 43.33 points or 0.66% to 6,575.32.

On the flip side, Shanghai Composite weakened 0.23 points or 0.01% to 3,317.83, Taiwan Weighted lost 75.19 points or 0.32% to 23,308.86 and Straits Times fell 1.39 points or 0.04% to 3,859.37.