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Post Session: Quick Review
Mar-10-2025

Indian stock markets lost their initial gaining momentum to end in red on Monday, amid growing concerns of a potential global trade war. After making a cautious start, soon markets gained momentum as some support came amid a private report stating that the food inflation in India likely fell below 5 per cent for the first time since June 2023. However, the indices slipped into negative territory in second half and remained in red till the end of the day, as sentiments got dampened after foreign institutional investors offloaded equities worth Rs 2,035.10 crore on a net basis on Friday, exchange data showed.

Some of the important factors in today’s trade:

Rupee plunges against US dollar: Traders were cautious after Indian rupee plunged sharply against the US dollar on Monday as the dollar started recovering from six-month low levels.

EU's environmental rules hurdle in India-EU trade talks:  Some concern came with the Global Trade Research Initiative’s (GTRI) economic think tank stating that the European Union's (EU) aggressive environmental regulations, particularly the carbon tax, deforestation rules, and supply chain due diligence laws are one of the biggest hurdles in the negotiations for a proposed trade pact with India. 

India eyes US trade deal: Traders took note of Finance Minister Nirmala Sitharaman’s statement that India is looking for a good trade agreement with the US to promote economic growth and ensure smooth supply chains.

Global front: European markets were trading in red, after a week of high volatility on concerns about an escalating global trade war and its potential impact on global economic growth. Most of the Asian markets ended in red, as lingering tariff worries, the threat of a U.S. recession and signs of deepening deflationary pressures in China.

The BSE Sensex ended at 74115.17, down by 217.41 points or 0.29% after trading in a range of 74022.24 and 74741.25. There were 7 stocks advancing against 23 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index fell 1.46%, while Small cap index was down by 2.11%. (Provisional)

The few gaining sectoral indices on the BSE were Utilities up by 0.51%, FMCG up by 0.11%, while Industrials down by 2.36%, Oil & Gas down by 2.18%, Capital Goods down by 2.06%, Consumer Durables down by 2.04% and Realty down by 1.94% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Power Grid Corp up by 2.85%, Hindustan Unilever up by 1.97%, Infosys up by 0.85%, Nestle up by 0.66% and ITC up by 0.30%. On the flip side, Indusind Bank down by 3.84%, Zomato down by 2.33%, Larsen & Toubro down by 2.05%, Titan Company down by 1.76% and Mahindra & Mahindra down by 1.15% were the top losers. (Provisional)

Meanwhile, India has imposed anti-dumping duty of up to $986 per tonne for five years on a chemical, used for water treatment, imported from China and Japan to protect the domestic industry from cheap inbound shipments. The decision follows recommendations from the Directorate General of Trade Remedies (DGTR), an investigation arm of the commerce ministry, to impose the duty on 'Trichloro isocyanuric acid'.

In its recommendations, the directorate has stated that the domestic industry has suffered material injury due to the dumped imports in India from China and Japan. The anti-dumping duty imposed shall be levied for a period of five years (unless revoked, superseded or amended earlier). Both the countries are key trading partners of India. While DGTR conducts the alleged dumping probe and recommends the duty, the finance ministry takes the final decision to impose the same within three months of the recommendation.

Countries initiate anti-dumping probes to check if their domestic industries have been hurt because of a surge in below-cost imports. As a countermeasure, they impose duties within the multilateral regime of the WTO (World Trade Organisation). Anti-dumping measures are taken to ensure fair trade and provide a level-playing field to the domestic industry. It is not a measure to restrict imports or cause an unjustified increase in the cost of products. 

The CNX Nifty ended at 22460.30, down by 92.20 points or 0.41% after trading in a range of 22429.05 and 22676.75. There were 13 stocks advancing against 37 stocks declining on the index. (Provisional)

The top gainers on Nifty were Power Grid up by 3.04%, Hindustan Unilever up by 1.96%, Infosys up by 0.92%, SBI Life Insurance up by 0.56% and Nestle up by 0.44%. On the flip side, ONGC down by 4.17%, Trent down by 4.00%, Indusind Bank down by 3.87%, Bajaj Auto down by 2.53% and Eicher Motors down by 2.16% were the top losers. (Provisional)

European markets were trading lower; Germany’s DAX lost 96.15 points or 0.42% to 22,912.79, UK’s FTSE 100 decreased 22.42 points or 0.26% to 8,657.46 and France’s CAC fell 13.89 points or 0.17% to 8,106.91.

Asian markets settled mostly down on Monday due to lingering Trump administration’s tariff worries, the threat of a US recession and signs of deepening deflationary pressures in China. Chinese shares declined after an announcement of tariffs on over $2.6 billion worth of Canadian agricultural and food products on Saturday, retaliating against levies Ottawa introduced in October on Chinese-made electric vehicles and steel and aluminium products. However, Japan’s Nikkei average gained, tracking Wall Street’s gains last Friday with prospects that the US Federal Reserve will cut interest rates earlier after a report showed employment in the United States increased by slightly less than expected in the month of February. 

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,366.16

-6.39

-0.19

Hang Seng

23,783.49

-447.81

-1.88

Jakarta Composite

6,598.21

-37.79

-0.57

KLSE Composite

1,536.46

-10.81

-0.70

Nikkei 225

37,028.27

141.10

0.38

Straits Times

3,899.07

-15.41

-0.40

KOSPI Composite

2,570.39

6.91

0.27

Taiwan Weighted

22,459.15

-116.92-0.52
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