Equity benchmarks trade flat in morning deals

Indian equity benchmarks were trading flat in morning deals, amid uncertainty on the geopolitical and global trade front. Foreign fund outflows also weighed on investors' sentiments. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,589.47 crore on Monday, according to exchange data. Some concern also came as the Engineering Export Promotion Council of India (EEPC India) stating that US President Donald Trump’s proposed 50 per cent tariff on steel and aluminium imports could severely impact India’s engineering goods’ shipments. However, traders took some support with the G20 Sherpa Amitabh Kant’s statement that India's economy, which is currently $4 trillion in size, is expected to be close to $30 trillion by 2047 and the country also has the advantage of younger demographics. On the global front, Asian markets are trading mostly in green as a rebound in US tech stocks offered modest optimism while investors continued to watch ongoing trade war developments and geopolitical risks.  

The BSE Sensex is currently trading at 81333.45, down by 40.30 points or 0.05% after trading in a range of 80948.20 and 81774.23. 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 0.05%, while Small cap index was up by 0.53%.

The top gaining sectoral indices on the BSE were Realty up by 0.70%, Basic Materials up by 0.65%, Auto up by 0.32%, PSU up by 0.24% and Metal up by 0.23%, while Power down by 0.34%, Bankex down by 0.31%, Capital Goods down by 0.23%, Utilities down by 0.21% and TECK down by 0.16% were the top losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 1.25%, HDFC Bank up by 0.89%, Bharat Electronics up by 0.83%, Eternal up by 0.75% and Reliance Industries up by 0.52%. On the flip side, Adani Ports &SEZ down by 1.15%, Larsen & Toubro down by 0.77%, Bajaj Finance down by 0.68%, Hindustan Unilever down by 0.63% and Bajaj Finserv down by 0.59% were the top losers.

Meanwhile, the Engineering Export Promotion Council of India (EEPC India) has said that US President Donald Trump’s proposed 50 per cent tariff on steel and aluminium imports could severely impact India’s engineering goods’ shipments. These metals and their derivatives constitute nearly a quarter of the country’s total engineering shipments to the US. Currently, India exports around $5 billion worth of steel, aluminium and related products to the US annually. 

It stated the existing 25 per cent tariff on steel imports, imposed by the US on March 18, 2025, has already created a tough market for Indian exporters. While India’s direct steel exports to the US remain limited, the tariffs have intensified global competition and disrupted trade flows. Chairman of EEPC India, Pankaj Chadha, said ‘If the US implements the 50 per cent tariff on steel, aluminium and their derivatives, exports of these critical items will become more expensive, likely leading to a decline in shipments.’ 

He pointed out that the UK recently secured an exemption from the 25 per cent steel and aluminium tariffs through a trade deal with the US, and suggested that India should seek a similar waiver during the ongoing Bilateral Trade Agreement (BTA) negotiations. He stated ‘This may not be the right time for such unilateral tariffs, especially when BTA talks are underway. It could complicate negotiations. The proposed hike could jeopardise engineering exports worth around $5 billion.’

The CNX Nifty is currently trading at 24719.95, up by 3.35 points or 0.01% after trading in a range of 24601.30 and 24845.10. There were 17 stocks advancing against 33 stocks declining on the index.

The top gainers on Nifty were Mahindra & Mahindra up by 1.17%, HDFC Bank up by 0.87%, Bharat Electronics up by 0.81%, Eternal up by 0.75% and Shriram Finance up by 0.65%. On the flip side, Adani Ports &SEZ down by 1.31%, Coal India down by 1.15%, Apollo Hospital down by 1.09%, Adani Enterprises down by 1.06% and SBI Life Insurance down by 0.86% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 37.9 points or 0.1% to 37,508.57, Taiwan Weighted added 138.8 points or 0.66% to 21,141.51, Hang Seng advanced 262.39 points or 1.12% to 23,420.36, Jakarta Composite gained 7.29 points or 0.1% to 7,072.36 and Shanghai Composite strengthened 15.99 points or 0.48% to 3,363.48.

On the flip side, Straits Times fell 1.15 points or 0.03% to 3,889.44.