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Key indices wipe-out initial losses; trade flat in late afternoon session
Mar-11-2025

The key indices wipe-out almost all of initial losses to trade flat in late afternoon session as escalating fears over global trade war and weak global growth outlook kept the investors on edge. Traders remained cautious after National Stock Exchange’s data showed that Eight of the top 10 brokers saw a drop in active investors in February indicating retail investors reluctant to participate in market trade amid ongoing market correction. 

On the global front, Asian equity markets were mostly trading in red amid fears that the U.S. economy could be slipping into a recession. European equity markets were mostly trading in green after having fallen sharply the previous day.

The BSE Sensex is currently trading at 74102.94, down by 12.23 points or 0.02% after trading in a range of 73663.60 and 74178.40. There were 17 stocks advancing against 13 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index rose 0.70%, while Small cap index was down by 0.61%.

The top gaining sectoral indices on the BSE were Realty up by 4.10%, Telecom up by 2.28%, Oil & Gas up by 1.44%, Energy up by 1.08% and  Metal up by 0.64%, while IT down by 1.06%, Bankex down by 0.28%, TECK down by 0.19%, Utilities down by 0.14% and Industrials down by 0.06% were the top losing indices on BSE.

The top gainers on the Sensex were Sun Pharmaceutical Industries up by 2.78%, ICICI Bank up by 2.40%, Bharti Airtel up by 2.09%, Maruti Suzuki up by 0.88% and Kotak Mahindra Bank up by 0.82%. On the flip side, Indusind Bank down by 26.17%, Infosys down by 2.38%, Mahindra & Mahindra down by 2.03%, Zomato down by 1.87% and Bajaj Finserv down by 1.55% were the top losers.

Meanwhile, in an era of digitalization, the Reserve Bank of India (RBI) governor Sanjay Malhotra has listed benefits and efforts taken by the Reserve Bank to boost digital payments across the country, saying that ‘We will continue to encourage innovation in payments, as also generally, while being mindful of risks and taking appropriate measures to mitigate them. We will promote innovation to facilitate payment systems that are fast, safe, secure, accessible and resilient.' 

He further said ‘We have adopted a soft-touch approach to regulating the payments ecosystem and FinTechs. Through these regulations, the Reserve Bank attempts to balance these divergent set of expectations. Our approach has been to put in place regulatory guardrails within which all stakeholders are free to operate. We will continue to encourage innovation while promoting safety and security through soft-touch regulations.’

Meanwhile, over the years, the Reserve Bank has supported various digital payment products. This has enhanced choice and convenience to the customers. It started with ECS (electronic clearing service). It then introduced NEFT, RTGS, IMPS, NACH (this is for e-mandates, it has replaced ECS), AePS, UPI, NETC, etc. It has introduced many new features on UPI and expanded its scope to cater to different needs of customers. These include UPI123Pay, UPI Lite, linking RuPay credit cards to UPI, processing payment mandates with single-block-and-multiple-debits, enabling Credit Lines for UPI, linking PPIs with UPI, etc.  

The CNX Nifty is currently trading at 22500.40, up by 40.10 points or 0.18% after trading in a range of 22314.70 and 22516.00. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Trent up by 4.66%, Sun Pharmaceutical Industries up by 2.78%, BPCL up by 2.68%, ICICI Bank up by 2.42% and Bharti Airtel up by 2.00%. On the flip side, Indusind Bank down by 26.52%, Infosys down by 2.24%, Mahindra & Mahindra down by 2.07%, Bajaj Finserv down by 1.46% and Power Grid Corporation of India down by 1.35% were the top losers.

Asian markets are trading mostly in red; Hang Seng declined 1.35 points or 0.01% to 23,782.14, Jakarta Composite plunged 57.34 points or 0.88% to 6,540.87, KOSPI dropped 32.79 points or 1.29% to 2,537.60, Nikkei 225 slipped 235.16 points or 0.64% to 36,793.11, Taiwan Weighted lost 388.06 points or 1.76% to 22,071.09 and Straits Times fell 71.69 points or 1.84% to 3,827.38, while Shanghai Composite strengthened 13.67 points or 0.4% to 3,379.83.

European markets were trading mostly in green; France’s CAC rose 48.11 points or 0.6% to 8,095.71 and Germany’s DAX gained 129.52 points or 0.57% to 22,750.47, while UK’s FTSE 100 decreased 12.41 points or 0.14% to 8,587.81.
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