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Bourses trim some gains in late afternoon session
Jan-15-2025

Indian equity markets trimmed most of their gains but continued to trade in green in late afternoon session. The broader indices, the BSE Mid cap index traded in red, while Small cap index traded in green in late afternoon session. Traders took some support as India's trade deficit narrowed to $21.94 billion in December from November's revised $32.84 billion, as exports grew last month while overseas shipments went down on sequenial basis. On the global front, Asian markets were trading mostly in red after reports emerged that U.S. President-elect Donald Trump's economic advisers are discussing slowly ramping up tariffs month by month. European markets were trading higher as bond yields eased after the release of softer-than-expected U.S. producer inflation data. All eyes now remain on the U.S. CPI data due later in the day that may shed more light on the path of Federal Reserve rates over the coming months.

The BSE Sensex is currently trading at 76596.22, up by 96.59 points or 0.13% after trading in a range of 76479.70 and 76991.05. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index declined 0.16%, while Small cap index was up by 0.15%.

The top gaining sectoral indices on the BSE were Utilities up by 2.14%, Power up by 1.62%, Realty up by 1.10%, Telecom up by 0.49% and TECK was up by 0.47%, while Healthcare down by 1.17%, Auto down by 0.70%, Oil & Gas down by 0.36%, Bankex down by 0.20% and Consumer Durables was down by 0.19% were the top losing indices on BSE.

The top gainers on the Sensex were Zomato up by 3.51%, Power Grid Corp up by 3.07%, NTPC up by 2.83%, Kotak Mahindra Bank up by 1.98% and Tech Mahindra up by 1.57%. On the flip side, Mahindra & Mahindra down by 2.68%, Axis Bank down by 2.65%, Bajaj Finserv down by 2.41%, Bajaj Finance down by 2.29% and Tata Motors down by 1.27% were the top losers.

Meanwhile, Commerce and Industry Minister Piyush Goyal has said that India is finalising free trade agreements (FTAs) only after extensive consultations with all the concerned stakeholders, noting that unlike in the past, these pacts are now fair, equitable and balanced. Citing the agreement with the four-European nation bloc EFTA, Goyal said that for the first time in the history of FTAs, India has received a commitment of $100 billion FDI (foreign direct investment) in this pact. 

Commerce Minister also said that India's decision to opt out of RCEP (Regional Comprehensive Partnership Agreement) demonstrates its commitment to safeguarding national interests. He added that ‘it was not in the interest of MSMEs, and it would have opened a floodgate for Chinese goods into the country. Therefore, we refused to join RCEP.’

Besides, Goyal highlighted that the country's goods and services exports touched $778 billion in 2023-24, and this year, it is expected to cross $800 billion. He added that the government has rolled out a series of software measures to boost domestic manufacturing, and today India is the second largest mobile maker in the world.

The CNX Nifty is currently trading at 23187.85, up by 11.80 points or 0.05% after trading in a range of 23146.45 and 23293.65. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Trent up by 4.09%, Power Grid up by 3.17%, NTPC up by 3.11%, Kotak Mahindra Bank up by 1.99% and Tech Mahindra up by 1.58%. On the flip side, Axis Bank down by 2.63%, Mahindra & Mahindra down by 2.60%, Shriram Finance down by 2.52%, Bajaj Finserv down by 2.47% and Bajaj Finance down by 2.30% were the top losers.

Asian markets were trading mostly in red; Taiwan Weighted lost 282.95 points or 1.26% to 22,514.57, Nikkei 225 slipped 29.72 points or 0.08% to 38,444.58, Straits Times fell 21.24 points or 0.56% to 3,767.53, Shanghai Composite weakened 13.82 points or 0.43% to 3,227.12 and KOSPI was down by 0.59 points or 0.02% to 2,496.81. On the flip side, Hang Seng advanced 66.29 points or 0.34% to 19,286.07 and Jakarta Composite was up by 122.78 points or 1.76% to 7,079.45.

European markets were trading higher; UK’s FTSE 100 increased 58.29 points or 0.71% to 8,259.83, France’s CAC rose 15.78 points or 0.21% to 7,439.45 and Germany’s DAX was up by 80.49 points or 0.4% to 20,351.82.
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