Key gauges remain in red in morning deals

Indian equity benchmarks continued to trade lower in morning deals, amid emergence of profit-taking after a sharp rally in the previous trading session. Markets were lower due to selling in TECK, IT and Healthcare stocks and a largely weak trend in Asian markets. Traders took a note of the data released by government showed that unemployment rate for persons of all ages during April 2025 worked out to be 5.1 per cent in April 2025. The pace of joblessness among men stayed slightly higher at 5.2 per cent compared to that of women at 5 per cent. However, losses remain capped as some support came with the Export Import Bank of India stated that it expects a 3.3% growth in the country's overall merchandise exports to $113.7 billion in the June quarter. The non-oil exports are forecast to grow 10.9 per cent to $99.2 billion during the first quarter of the current fiscal year. On the global front, Asian markets were trading mostly in red following the mixed cues from Wall Street overnight, as traders digested the latest settlements on the trade tariff front and remained caution as they awaited more clarity on the developments in trade negotiations with other trade partners. 

The BSE Sensex is currently trading at 82268.81, down by 261.93 points or 0.32% after trading in a range of 82201.49 and 82514.81. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.53%, while Small cap index was up by 0.70%.

The top gaining sectoral indices on the BSE were Realty up by 1.60%, Industrials up by 1.52%, Capital Goods up by 1.40%, PSU up by 1.39% and Utilities up by 1.15%, while TECK down by 1.31%, IT down by 0.84%, Healthcare down by 0.61%, Telecom down by 0.42% and Bankex down by 0.24% were the top losing indices on BSE.

The top gainers on the Sensex were NTPC up by 0.92%, Maruti Suzuki up by 0.84%, Eternal up by 0.80%, Tata Motors up by 0.76% and ITC up by 0.62%. On the flip side, Bharti Airtel down by 2.78%, Indusind Bank down by 2.72%, HCL Technologies down by 1.87%, SBI down by 1.54% and Infosys down by 1.50% were the top losers.

Meanwhile, the United Nations (UN) in its latest report titled 'The World Economic Situation and Prospects as of mid-2025' has revised India's economic growth forecast for 2025, down to 6.3 per cent, and despite a projected moderation, the country remains one of the fastest-growing large economies, supported by resilient consumption and government spending. The 6.3 per cent growth projection for India in 2025 is slightly lower than the 6.6 per cent estimated in the UN World Economic Situation and Prospects 2025 published in January this year. 

Further, it stated while looming United States tariffs weigh on merchandise exports, the currently exempt sectors such as pharmaceuticals, electronics, semiconductors, energy, and copper could limit the economic impact, though these exemptions may not be permanent. Moreover, it noted that resilient private consumption and strong public investment, alongside robust services exports, will support economic growth. Meanwhile, it has projected India’s GPD to grow at 6.4% for 2026.

The report highlighted that while the unemployment in India remained largely stable amid steady economic conditions, the persistent gender disparities in employment underscore the need for greater inclusivity in workforce participation. It added that in India, inflation is projected to slow from 4.9 per cent in 2024 to 4.3 per cent in 2025, staying within the central bank's target range.  

On the global front, the UN in its report has said that the global economy is at a precarious juncture, marked by heightened trade tensions and elevated policy uncertainty. The recent surge in tariffs driving the effective US tariff rate up steeply threatens to raise production costs, disrupt global supply chains and amplify financial turbulence. The UN expects the global GDP to grow at just 2.4 per cent in 2025, down from 2.9 per cent in 2024 and 0.4 percentage points below the January 2025 estimates. Meanwhile, the global economic growth is forecast at 2.5% for 2026.

The CNX Nifty is currently trading at 24996.35, down by 65.75 points or 0.26% after trading in a range of 24975.80 and 25070.00. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Bharat Electronics up by 3.35%, Eicher Motors up by 1.91%, Adani Enterprises up by 1.23%, NTPC up by 0.79% and Maruti Suzuki up by 0.78%. On the flip side, Bharti Airtel down by 2.84%, Indusind Bank down by 2.63%, HCL Technologies down by 1.73%, SBI down by 1.63% and Shriram Finance down by 1.50% were the top losers.

Asian markets were trading mostly in red; Shanghai Composite weakened 14.96 points or 0.44% to 3,365.86, Nikkei 225 slipped 23.95 points or 0.06% to 37,731.56, Straits Times fell 7.9 points or 0.2% to 3,884.04 and Hang Seng declined 152.01 points or 0.65% to 23,301.15.

On the flip side, Taiwan Weighted added 68.49 points or 0.32% to 21,798.74, KOSPI increased 5.33 points or 0.2% to 2,626.69 and Jakarta Composite gained 22.01 points or 0.31% to 7,062.17.