Markets remain under pressure in late morning deals

Indian equity markets remained under pressure and were trading lower with cut of over half percent in late morning deals on account of selling by funds and retail investors.  Hectic selling in Bajaj Finance, Bajaj Finserv, Power Grid, Eternal and Infosys companies’ stocks weighed on the market’s sentiments. The broader indices largely underperformed their large peers with BSE Mid cap index and Small cap index dropping in the range of 1.05-1.40%.  Further, weak cues from other Asian markets too weighed on the domestic sentiments. Besides, traders were cautious as crude oil prices rose, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories.   

On the global front, Asian markets were trading mostly in red despite inflation in Japan’s capital of Tokyo came in at 2.9% for July, softening from the 3.1% seen in June. Core inflation, which strips out prices of volatile fresh food, also fell to 2.9% in July from 3.1% in the previous month. The latest reading was lower than the 3% expected by street. Back home, most of the sectoral indices on the BSE were trading in red led by Capital Goods, Power, Utilities, PSU and Metal.

The BSE Sensex is currently trading at 81682.28, down by 501.89 points or 0.61% after trading in a range of 81539.97 and 82069.51. There were 3 stocks advancing against 27 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 1.06%, while Small cap index down by 1.40%.

The only gaining sectoral index on the BSE was Healthcare up by 0.07%, while Capital Goods down by 1.38%, Power down by 1.37%, Utilities down by 1.36%, PSU down by 1.32% and Metal down by 1.32% were the losing indices on BSE.

The few gainers on the Sensex were Bharti Airtel up by 0.63%, Sun Pharma up by 0.39% and TCS up by 0.03%. On the flip side, Bajaj Finance down by 4.56%, Bajaj Finserv down by 4.20%, Power Grid down by 1.75%, Eternal down by 1.60% and Infosys down by 1.54% were the top losers.

Meanwhile, Engineering Export Promotion Council of India (EEPC India) has said that the signing of the India-UK Free Trade Agreement (FTA) marks a breakthrough for Indian engineering exports and is poised to significantly deepen bilateral economic ties.

Terming it as a ‘landmark achievement’, EEPC India noted that the FTA’s removal of tariffs--previously as high as 18 per cent on key engineering items--will unlock substantial opportunities for Indian manufacturers, particularly in high-growth sectors such as electrical machinery, auto components, industrial equipment, and construction machinery. India’s engineering exports to the UK, its sixth-largest destination, stood at $4.28 billion in FY25, accounting for just 2.2 per cent of the UK’s total engineering imports. The trade pact is expected to nearly double this figure to over $7.5 billion by 2029-30. The organisation believes this comprehensive trade pact with a major developed economy could serve as a template for future FTAs with other trading blocs and nations, supporting India’s broader goal of reaching $250 billion in engineering exports by 2030.

Meanwhile, aided by higher shipments of iron and steel, internal combustion engines, and two- and three-wheelers, India’s engineering goods exports returned to growth in June 2025, rising 1.35 per cent year-on-year to $9.5 billion. Cumulative exports in April-June (Q1 FY26) stood at $28.91 billion, up from $27.89 billion in the same period last year.

The CNX Nifty is currently trading at 24888.65, down by 173.45 points or 0.69% after trading in a range of 24844.45 and 25010.35. There were 7 stocks advancing against 43 stocks declining on the index.

The top gainers on Nifty were SBI Life up by 2.10%, Dr. Reddy's Lab up by 1.49%, Apollo Hospital up by 0.97%, Bharti Airtel up by 0.75% and Sun Pharma up by 0.39%. On the flip side, Bajaj Finance down by 4.58%, Bajaj Finserv down by 4.30%, Shriram Finance down by 4.20%, Indusind Bank down by 2.41% and Bajaj Auto down by 2.33% were the top losers.

Asian markets were trading mostly in red; Hang Seng declined 285.18 points or 1.11% to 25,382.00, Jakarta Composite plunged 10.62 points or 0.14% to 7,520.28, Shanghai Composite weakened 11.63 points or 0.32% to 3,594.10, Straits Times fell 15.39 points or 0.36% to 4,257.66, Nikkei 225 slipped 374.34 points or 0.89% to 41,452.00 and Taiwan Weighted lost 60.52 points or 0.26% to 23,313.21. However, KOSPI increased 2.34 points or 0.07% to 3,192.79.