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Bourses turn negative in early afternoon session
Mar-07-2025

In a volatile trading session, Indian equity markets once again entered into red territory in early afternoon session as concerns over U.S. tariffs persisted. Further, domestic traders avoided to take risk ahead of key macroeconomic data i.e. Inflation data and Industrial Production data, which due on March 12. Sector wise, automobile sector remained in limelight as Federation of Automobile Dealers Associations (FADA) in its latest data has said that automobile retail sales across categories, including passenger vehicles and two-wheelers, witnessed a drop of 7 per cent in February 2025 amid declining demand. On the global front, Asian markets are trading mostly in red as China's exports growth eased more than expected at the start of the year and imports logged an unexpected sharp decline amid mounting trade tensions. Exports grew at a slower pace of 2.3 percent annually in the January to February period, following a 10.7 percent rise in December. 

The BSE Sensex is currently trading at 74225.64, down by 114.45 points or 0.15% after trading in a range of 74038.03 and 74586.43. There were 12 stocks advancing against 18 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index declined 0.42%, while Small cap index up by 0.62%.

The top gaining sectoral indices on the BSE were Industrials up by 0.63%, Energy up by 0.43%, Capital Goods up by 0.35%, Basic Materials up by 0.24% and Auto was up by 0.02%,  while IT down by 1.19%, Utilities down by 1.14%, Realty down by 1.10%, TECK down by 0.89% and Consumer Durables was down by 0.89% were the top losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 2.85%, Nestle up by 1.29%, Adani Ports up by 0.90%, Tata Motors up by 0.63% and Ultratech Cement up by 0.58%. On the flip side, Indusind Bank down by 3.31%, Zomato down by 3.24%, NTPC down by 2.22%, Infosys down by 2.02% and HCL Tech down by 1.52% were the top losers.

Meanwhile, Federation of Automobile Dealers Associations (FADA) in its latest data has said that automobile retail sales across categories, including passenger vehicles and two-wheelers, witnessed a drop of 7 per cent in February 2025 amid declining demand. Overall retail sales in the domestic market stood at 18,99,196 units in February 2025, registering a dip of 7 per cent compared to 20,46,328 units in the year-ago period.  

According to the data, passenger vehicle retail sales declined 10 per cent year-on-year to 3,03,398 units in February 2025. Two-wheeler sales witnessed a drop of 6 per cent year-on-year in February 2025 at 13,53,280 units as compared to 14,44,674 units sold in February last year. Commercial vehicle retail sales dropped 9 per cent year-on-year to 82,763 units in February 2025. Tractor sales declined 14.5 per cent year-on-year to 65,574 units in February 2025.

On near term sales outlook, FADA stated that dealers remain cautiously optimistic for March. However, challenges remain, as five consecutive months of declining stock markets have dampened consumer confidence, with investors closing more SIPs rather than opening new ones and reduced discretionary spending driven by dented profitability. Despite this, the convergence of multiple festivals -- ranging from Holi and Gudi Padwa to the onset of Navratri -- and year-end depreciation benefits are expected to provide a much-needed boost to vehicle purchases.  

The CNX Nifty is currently trading at 22512.70, down by 32.00 points or 0.14% after trading in a range of 22464.75 and 22633.80. There were 20 stocks advancing against 30 stocks declining on the index.

The top gainers on Nifty were Reliance Industries up by 2.86%, Bajaj Auto up by 1.41%, Nestle up by 1.27%, HDFC Life Insurance up by 1.12% and Britannia up by 1.05%. On the flip side, Indusind Bank down by 3.41%, Shriram Finance down by 2.29%, NTPC down by 2.29%, Infosys down by 2.16% and Power Grid down by 1.59% were the top losers.

Asian markets are trading mostly in red; Nikkei 225 slipped 817.76 points or 2.22% to 36,887.17, Hang Seng declined 216.4 points or 0.89% to 24,153.31, Taiwan Weighted lost 139.36 points or 0.62% to 22,576.07, Shanghai Composite weakened 15.65 points or 0.46% to 3,365.45 and KOSPI was down by 12.68 points or 0.49% to 2,563.48. On the flip side, Straits Times rose 0.98 points or 0.03% to 3,918.04 and Jakarta Composite was up by 41 points or 0.62% to 6,658.85.
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