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Bourses trade deep in red in late afternoon session
Jan-09-2025

Indian equity markets extended their losses to trade at day’s low levels in late afternoon session ahead of the kick start of earnings season with index heavyweight Tata Consultancy Services (TCS). Traders ignored Agricultural and Processed Food Products Export Development Authority (APEDA) Chairman Abhishek Dev’s statement that Indian exporters have huge opportunities to increase their share in the global agriculture trade from the current 2.4 per cent. The global agriculture trade is about $2 trillion. He said that given these numbers, ‘huge opportunities’ are there to increase exports from the country. On the global front, Asian markets were trading mostly in red as investors reacted to U.S. President-elect Donald Trump's tariff threats, a buoyant dollar and disappointing Chinese inflation data. European markets were trading mostly in green as Germany's industrial production rebounded in November. Industrial output increased 1.5 percent on a monthly basis, in contrast to the revised 0.4 percent decrease in October. Output was expected to grow moderately by 0.5 percent. 

The BSE Sensex is currently trading at 77630.55, down by 517.94 points or 0.66% after trading in a range of 77576.77 and 78206.21. There were 10 stocks advancing against 20 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.67%, while Small cap index was down by 0.88%.

The only gaining sectoral indices on the BSE was FMCG up by 0.79%, while Realty down by 2.33%, Oil & Gas down by 2.08%, Energy down by 1.81%, Power down by 1.38% and PSU was down by 1.37% were the top losing indices on BSE.

The top gainers on the Sensex were Nestle up by 1.84%, Mahindra & Mahindra up by 1.82%, Hindustan Unilever up by 1.51%, Kotak Mahindra Bank up by 1.31% and Asian Paints up by 0.54%. On the flip side, Tata Motors down by 1.83%, HDFC Bank down by 1.78%, Larsen & Toubro down by 1.70%, Tata Steel down by 1.70% and Adani Ports down by 1.66% were the top losers.

Meanwhile, amid the evolving lifestyle and changing family configurations, the Union Minister of Food Processing Industries, Chirag Paswan has said that the processed food demand will grow manyfold and is the future, as it holds immense possibilities for growth. He noted ‘I am sure that the processed food segment of the industry will be a major contributor to the Prime Minister’s vision and resolve to make India ‘Viksit Bharat’.’

The Minister expressed the need to make Indian cuisine grow across the world and reach every dining table. The minister also said ‘My government is working toward food security to the world with the mission that no one should sleep hungry, and here India can play a major role as agri producer and exporter.’ 

Highlighting the need for food safety, he said ‘Food safety is equally important as food taste. The FSSAI will be hosting a regulatory summit soon to ensure a greater compliance. We have opened food testing labs as mandated in the Union Budget and 100 new testing labs will be added to ensure food safety to all.’ 

Paswan further added that his Ministry is also working toward increasing the longevity of perishable items so as to have a long shelves life and minimize the losses. Union Minister also assured the industry that the government is committed to bridging the gap between the policy and the industry and will support the industry in every possible way.

The CNX Nifty is currently trading at 23524.05, down by 164.90 points or 0.70% after trading in a range of 23516.85 and 23689.50. There were 18 stocks advancing against 32 stocks declining on the index.

The top gainers on Nifty were Nestle up by 1.81%, Mahindra & Mahindra up by 1.80%, Bajaj Auto up by 1.80%, Hindustan Unilever up by 1.53% and Britannia up by 1.38%. On the flip side, ONGC down by 3.18%, Shriram Finance down by 2.63%, Coal India down by 2.16%, BPCL down by 2.14% and HDFC Bank down by 1.85% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 375.97 points or 0.95% to 39,605.09, Taiwan Weighted lost 326.2 points or 1.41% to 23,081.13, Hang Seng declined 38.95 points or 0.2% to 19,240.89, Straits Times fell 28.97 points or 0.75% to 3,858.01, Shanghai Composite weakened 18.78 points or 0.58% to 3,211.39 and Jakarta Composite was down by 4.41 points or 0.06% to 7,075.94. On the flip side, KOSPI was up by 0.85 points or 0.03% to 2,521.90.

European markets were trading mostly in green; UK’s FTSE 100 increased 47.7 points or 0.58% to 8,298.73 and France’s CAC was up by 3.6 points or 0.05% to 7,456.02. On the flip side, Germany’s DAX was down by 21.66 points or 0.11% to 20,308.28.
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