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Bourses trade deeply in red during late afternoon session
Jan-13-2025

Indian equity markets traded deeply in red during late afternoon session following weak cues from global markets. The broader indices, the BSE Mid cap index and Small cap index traded with cut of over four percent. Traders were worried as IMF Managing Director Kristalina Georgieva said that Indian economy is set to face challenges in 2025, with the International Monetary Fund (IMF) forecasting a slightly weaker performance despite steady global growth. The uncertainty that could arise from shifts in U.S. trade policy, which may further impact the global economic landscape. While global growth is anticipated to remain stable.

On the global front, All Asian markets were trading lower after US stocks fell as good news on the job market raised inflation worries. European markets were trading lower amidst caution ahead of the release of CPI numbers from the U.S. on Wednesday. The unexpectedly strong jobs data released on Friday is also expected to weigh on sentiment.

The BSE Sensex is currently trading at 76436.83, down by 942.08 points or 1.22% after trading in a range of 76408.48 and 77128.35. There were 5 stocks advancing against 25 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 4.03%, while Small cap index was down by 4.17%.

The top losing sectoral indices on the BSE were Realty down by 6.25%, Consumer Durables down by 4.15%, Industrials down by 4.13%, Utilities down by 3.91% and Consumer Discretionary was down by 3.87%, While there were no gaining sectoral indices on the BSE.

The top gainers on the Sensex were TCS up by 0.81%, Indusind Bank up by 0.63%, Axis Bank up by 0.61%, Hindustan Unilever up by 0.19% and Infosys up by 0.02%. On the flip side, Zomato down by 5.49%, Power Grid down by 3.77%, Adani Ports down by 3.70%, Tata Steel down by 2.86% and NTPC down by 2.76% were the top losers.

Meanwhile, Union Minister of Commerce & Industry, Piyush Goyal has said that India has the potential to reach $100 billion of combined exports in the Food & Beverage (F&B), agriculture and marine products industries in the next five years. He emphasized that the target is not very ambitious as the industries need to grow at a combined rate of 14-15%. 

Goyal further urged the Indian companies to invest in innovation, in better packaging, in sustainability, to mechanise their processes to make them more hygienic and encouraged the stakeholders to bring out high-value products on nutrition that can be used by the Government for its food security programmes in the country.

On promoting sustainability in the food industry, the Minister highlighted that the Government is prioritizing to make farming processes sustainable and is working to promote organic farming and food products. There is a tremendous growth potential in organic farming and the Government has eased certification processes for organic foods while maintaining the sanctity and traceability to ensure no irregularities creep in the system.  

Commerce Minister also said that the Government is looking to expand food testing laboratories across the nation and also noted that the Government will also welcome suggestions on equipment and processes needed to set up high quality testing laboratory facilities.

The CNX Nifty is currently trading at 23110.95, down by 320.55 points or 1.37% after trading in a range of 23100.60 and 23340.95. There were 4 stocks advancing against 46 stocks declining on the index.

The few gainers on Nifty were TCS up by 0.81%, Axis Bank up by 0.70%, Indusind Bank up by 0.46% and Hindustan Unilever up by 0.13%. On the flip side, Trent down by 6.15%, Adani Enterprises down by 6.02%, Bharat Electronics down by 4.24%, BPCL down by 4.00% and Adani Ports down by 3.83% were the top losers.

All Asian markets were trading lower; Taiwan Weighted lost 523.53 points or 2.33% to 22,488.33, Hang Seng declined 190.15 points or 1.01% to 18,874.14, Jakarta Composite plunged 73.43 points or 1.05% to 7,015.44, KOSPI dropped 26.22 points or 1.05% to 2,489.56, Straits Times fell 24.01 points or 0.64% to 3,777.55 and Shanghai Composite was down by 7.76 points or 0.25% to 3,160.76.

European markets were trading lower; UK’s FTSE 100 decreased 25.36 points or 0.31% to 8,223.13, France’s CAC fell 45.51 points or 0.61% to 7,385.53 and Germany’s DAX was down by 124.45 points or 0.62% to 20,090.34.
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