Sensex, Nifty remain volatile in late morning deals

Indian equity benchmarks remained volatile during late morning deals, with both Sensex and Nifty trading lower, impacted by heavy selling at all the sectors, despite positive cues from other Asian markets. Sentiments remained subdued amid prevailing uncertainty about U.S. President Donald Trump's tariff plans. Besides, a private report noted that President Donald Trump’s more broad definition of reciprocal tariffs unveiled last week likely exposes most Asian economies to US levies.

However, downside remained capped, with traders getting some relief with reports that the government launched the Mutual Credit Guarantee Scheme for MSMEs (MCGS MSME) for facilitating loans up to Rs 100 crore to MSMEs for purchase of machinery or equipment without collateral, which was announced in the Union Budget 2024-25.

On the global front, Asian markets were trading mostly in green, even after the Thai economy grew at a slower than expected pace in the fourth quarter on contracting private investment and decelerating government spending. The Office of the National Economic and Social Development Council said that gross domestic product logged an annual growth of 3.2 percent in the fourth quarter after rising 3.0 percent in the third quarter. However, this was weaker than forecast of 3.9 percent.

The BSE Sensex is currently trading at 75775.74, down by 221.12 points or 0.29% after trading in a range of 75531.01 and 76091.69. There were 6 stocks advancing against 24 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell by 0.98%, while Small cap index was down by 2.05%.

The top losing sectoral indices on the BSE were Industrials down by 1.86%, Telecom down by 1.79%, Consumer Durables down by 1.52%, Capital Goods down by 1.25% and Basic Materials down by 1.22%, while there were no gaining sectoral indices on the BSE.

The top gainers on the Sensex were Tech Mahindra up by 1.09%, Bajaj Finserv up by 0.39%, Maruti Suzuki up by 0.20%, HCL Tech. up by 0.13% and Kotak Mahindra Bank up by 0.11%. On the flip side, Mahindra & Mahindra down by 1.91%, Tata Steel down by 1.49%, Tata Motors down by 1.25%, Adani Ports & SEZ down by 1.10% and Ultratech Cement down by 1.07% were the top losers.

Meanwhile, the commerce ministry in its latest data has showed that India's merchandise exports declined for the third month in a row in January 2025, falling by 2.38 per cent year-on-year to $36.43 billion as against $37.32 billion a year ago, due to volatility in petroleum prices and global uncertainties. Imports rose by 10.28 per cent year-on-year to $59.42 billion in January 2025 due to an increase gold shipments. The trade deficit, or the gap between imports and exports, widened to $22.99 billion in January 2025 from $16.55 billion in January 2024. The trade deficit was $21.94 billion in December 2024. 

According to the data, merchandise exports during April-January 2024-25 were $358.91 billion as compared to $353.97 billion during April-January 2023-24. Merchandise imports during April-January 2024-25 were $601.90 billion as compared to $560.27 billion during April-January 2023-24. Merchandise trade deficit during April-January 2024-25 was $242.99 billion as compared to $206.29 billion during April-January 2023-24.  

It further said non-petroleum and non-gems & jewellery exports in January 2025 were $29.87 billion compared to $26.12 billion in January 2024. Non-petroleum and non-gems & jewellery exports in April-January 2024-25 were $281.46 billion, compared to $256.56 billion in April-January 2023-24. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in January2025 were $41.20 billion compared to $34.23 billion in January 2024. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-January 2024-25 were $378.34 billion, compared to $354.86 billion in April-January 2023-24.      

The CNX Nifty is currently trading at 22866.70, down by 92.80 points or 0.40% after trading in a range of 22801.50 and 22992.50. There were 10 stocks advancing against 40 stocks declining on the index.

The top gainers on Nifty were Tech Mahindra up by 1.14%, Apollo Hospital up by 1.10%, Wipro up by 0.52%, Bajaj Finserv up by 0.25% and HCL Tech. up by 0.13%. On the flip side, Trent down by 2.50%, Mahindra & Mahindra down by 1.94%, Bharat Electronics down by 1.73%, Adani Enterprises down by 1.69% and Grasim Industries down by 1.57% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 230.83 points or 1.02% to 22,847.06, Jakarta Composite gained 44.74 points or 0.65% to 6,875.62, Straits Times rose 10.07 points or 0.26% to 3,914.92, KOSPI increased 16.44 points or 0.63% to 2,626.86, Nikkei 225 surged 144.7 points or 0.37% to 39,318.95 and Taiwan Weighted added 160.78 points or 0.68% to 23,666.11, while Shanghai Composite weakened 8.1 points or 0.24% to 3,347.73.