Markets make recovery to trade flat in late trade

The Indian equity markets witnessed decent recovery to trade flat in late trade with negative bias Overall, traders remained cautious amidst uncertainties surrounding US reciprocal tariffs, persistent selling by FIIs and weakening rupee against dollar. Indian bourses seemed struggling to attract global investors compared to its Chinese counterpart, which added more than $1 trillion into Chinese shares and the technology stocks including Alibaba and Xiaomi Corp. contributing the most in gaining Hang Sang index. However, losses remained capped as some optimism raised in domestic markets with rising expectations of better earnings in on going quarter and coming financial year. 

On the global front, Asian markets were trading in green on expectation that the encounter between president Xi and corporate leaders which raised expectations of possible end to the years-long crackdown on the private sector. On the flip side, European markets were trading in red amidst geopolitical tensions between Russia-Ukraine after Ukrainian drone attack on Russian oil pumping station. Back home, the markets experienced cherry-picking of fundamentally good stock by the market participants which helped markets to wipe-out almost all of initial losses. 

The BSE Sensex is currently trading at 75968.33, down by 28.53 points or 0.04% after trading in a range of 75531.01 and 76091.69. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index down by 0.68%, while Small cap index was down by 2.14%.

The few gaining sectoral indices on the BSE were IT up by 0.34%, Utilities up by 0.28% and TECK up by 0.17%, while Industrials down by 2.02%, Telecom down by 1.80%, Capital Goods down by 1.35%, Consumer Durables down by 1.34% and Consumer Disc down by 0.91% were the top losing indices on BSE.

The top gainers on the Sensex were NTPC up by 2.18%, Tech Mahindra up by 2.15%, Zomato up by 1.85%, Kotak Mahindra Bank up by 0.83% and HCL Technologies up by 0.61%. On the flip side, Indusind Bank down by 1.81%, Mahindra & Mahindra down by 1.60%, Hindustan Unilever down by 1.50%, Ultratech Cement down by 1.35% and Tata Motors down by 1.24% 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 shipment. 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 22930.50, down by 29.00 points or 0.13% after trading in a range of 22801.50 and 22992.50. There were 22 stocks advancing against 28 stocks declining on the index.

The top gainers on Nifty were NTPC up by 2.27%, Tech Mahindra up by 2.11%, Wipro up by 1.78%, Apollo Hospitals Enterprise up by 1.08% and ONGC up by 0.88%. On the flip side, Trent down by 2.50%, Bharat Electronics down by 2.43%, Indusind Bank down by 1.98%, Mahindra & Mahindra down by 1.58% and Hindustan Unilever down by 1.52% were the top losers.

Asian markets are trading mostly in green; Hang Seng advanced 360.58 points or 1.57% to 22,976.81, Jakarta Composite gained 30.15 points or 0.44% to 6,861.03, KOSPI increased 16.39 points or 0.62% to 2,626.81, Taiwan Weighted added 160.78 points or 0.68% to 23,666.11, Straits Times rose 22.4 points or 0.57% to 3,927.25 and Nikkei 225 surged 96.15 points or 0.24% to 39,270.40, while Shanghai Composite weakened 31.34 points or 0.94% to 3,324.49.

European markets were trading lower; UK’s FTSE 100 decreased 0.67 points or 0.01% to 8,767.34, France’s CAC fell 25.73 points or 0.31% to 8,163.40 and Germany’s DAX lost 29.95 points or 0.13% to 22,768.14.