Key gauges add some losses in morning deals

Indian equity benchmarks added some losses in morning deals, as selling by foreign portfolio investors (FPIs) continued to put pressure on equities. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,311.55 crore on Thursday, according to exchange data. Apart from FIIs, Donald Trump’s threat of reciprocal tariffs also seems to have made investors nervous. Some concern also came as Moody's Analytics said India's growth will slow to 6.4 per cent in 2025, from 6.6 per cent in 2024, as new US tariffs and softening global demand weigh on exports. Sector-wise, stocks related to Leather sector remained in watch as the Council of Leather Exports (CLE) said it is aiming at increasing the sector's exports to $7 billion and position India among the top five global exporters by 2025-26. On the global front, Asian markets are trading mostly in green as investors wait for clarity on U.S. President Donald Trump's trade policies and eagerly await the outcome of Ukraine peace talks. 

The BSE Sensex is currently trading at 75354.44, down by 381.52 points or 0.50% after trading in a range of 75200.09 and 75748.72. There were 8 stocks advancing against 22 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.87%, while Small cap index was down by 0.43%.

The few gaining sectoral indices on the BSE were Utilities up by 0.25% and Metal up by 0.13%, while Auto down by 2.27%, Consumer Discretionary down by 1.16%, Healthcare down by 1.14%, Bankex down by 0.91% and Oil & Gas down by 0.90% were the top losing indices on BSE.

The top gainers on the Sensex were NTPC up by 1.06%, TCS up by 0.72%, Larsen & Toubro up by 0.56%, HCL Technologies up by 0.55% and Bharti Airtel up by 0.35%. On the flip side, Mahindra & Mahindra down by 4.95%, Tata Motors down by 2.00%, Ultratech Cement down by 1.91%, ICICI Bank down by 1.70% and Kotak Mahindra Bank down by 1.68% were the top losers.

Meanwhile, Union Commerce Minister Piyush Goyal said that the Indian rupee has performed well compared to other global currencies due to the country's strong foreign currency reserves. He also said that a skill development centre and a startup incubation centre will come up at AURIC (the industrial node of Shendra and Bidkin) in the near term. Talking about the downfall of the Indian rupee he said, the Indian rupee has strengthened in comparison to the emerging economies of the country. After US elections almost all the currencies across the globe have come down. But India had good reserves of foreign exchange so the Indian rupee performed better than that of other currencies.

The minister further said the government has decided to start a skill development centre in AURIC which spread over 20 thousand square feet along with a startup incubation hub of 10 thousand square feet, which will help to boost employment and research. Further, the government has decided to start 100 plus industrial hubs in different parts of the country with plug-and-play infrastructure, which will be a hotspot of industrial growth.

Talking about the undeveloped industrial plots, he said the proposals come when someone demands lands for industrial purposes. The government has given instruction to study these proposals and see why the units are not established even after a long period of buying the plot. About the lack of land at AURIC as the land in possession of Maharashtra Industrial Township (MITL) he said, he has spoken to CEO, MIDC (Maharashtra Industrial Development Corporation) over it and will talk to CM Devendra Fadnavis for the same.

The CNX Nifty is currently trading at 22767.15, down by 146.00 points or 0.64% after trading in a range of 22733.30 and 22921.00. There were 9 stocks advancing against 41 stocks declining on the index.

The top gainers on Nifty were Hindalco up by 1.06%, NTPC up by 1.01%, TCS up by 0.74%, Eicher Motors up by 0.53% and Larsen & Toubro up by 0.51%. On the flip side, Mahindra & Mahindra down by 5.17%, Ultratech Cement down by 2.37%, BPCL down by 2.05%, Tata Motors down by 1.91% and Dr. Reddy's Lab down by 1.72% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 36.09 points or 0.09% to 38,714.13, Taiwan Weighted added 219.52 points or 0.93% to 23,706.98, Hang Seng advanced 661.44 points or 2.85% to 23,238.42, Straits Times rose 0.46 points or 0.01% to 3,927.97, Jakarta Composite gained 11.19 points or 0.16% to 6,799.23 and Shanghai Composite strengthened 25.94 points or 0.77% to 3,376.72.

On the flip side, KOSPI dropped 7.52 points or 0.28% to 2,646.54.