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EQUITY
Post Session: Quick Review
Mar-11-2025

Indian equity benchmarks pared losses and closed flat on Tuesday, as investors awaited crucial key macroeconomic data i.e. Consumer Price Index (CPI) and Index of Industrial Production (IIP), which due on tomorrow. Markets made a negative start, amid concerns about U.S. President Donald Trump's flip-flop tariff policy and its impact on inflation, interest rates and global growth. In the final hour of trading, the indices managed trimmed their losses and settled near the neutral lines.

Some of the important factors in today’s trade:

Govt seeks Rs 51,463 crore extra spending in FY25: Traders took some support with report that the government has sought Parliament nod to spend a net additional Rs 51,462.86 crore in the current financial year ending March (FY25), with a large chunk going towards pension and subsidy fertiliser.

Trading remained muted amid FII selling: Some concern came as exchange data showed Foreign institutional investors (FIIs) offloaded equities worth Rs 485.41 crore on a net basis on Monday. 

Auto stocks remain in focus: Credit rating agency ICRA in its latest report stated that domestic commercial vehicle (CV) industry's wholesale volumes are expected to grow 3-5 per cent year-on-year in FY26. 

Global front: European markets were trading in green, as investors shrug off concerns about trade war for now, and focus on earnings and look ahead to key U.S. inflation data due on Wednesday. Most of the Asian markets ended lower, amid fears that the U.S. economy could be slipping into a recession, particularly in light of ongoing tariff disputes.

The BSE Sensex ended at 74102.32, down by 12.85 points or 0.02% after trading in a range of 73663.60 and 74195.17. There were 17 stocks advancing against 13 stocks declining on the index. (Provisional)

The broader indices ended mixed; the BSE Mid cap index rose 0.72%, while Small cap index was down by 0.70%. (Provisional)

The top gaining sectoral indices on the BSE were Realty up by 3.92%, Telecom up by 2.78%, Oil & Gas up by 1.58%, Energy up by 1.20% and Metal up by 0.62%, while IT down by 0.87%, Bankex down by 0.36%, Utilities down by 0.15%, FMCG down by 0.15% and Auto down by 0.09% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Sun Pharma up by 2.62%, ICICI Bank up by 2.40%, Bharti Airtel up by 1.85%, HCL Technologies up by 1.01% and Maruti Suzuki up by 0.86%. On the flip side, Indusind Bank down by 27.02%, Infosys down by 2.15%, Bajaj Finserv down by 1.82%, Mahindra & Mahindra down by 1.77% and Zomato down by 1.28% were the top losers. (Provisional)

Meanwhile, central GST officers have detected tax evasion of Rs 1.95 lakh crore in 25,397 cases in the April-January period of the current fiscal (FY25). As per the data shared in the Lok Sabha, the total number of GST evasion cases detected by central government officers in the last five years was 86,711 and the total detection was over Rs 6.79 lakh crore. In the current fiscal (up to January 2025), the total number of evasion cases detected stood at 25,397, with a total detection amount of Rs 1,94,938 crore.

During the period, a voluntary deposit of Rs 21,520 crore was made in tax evasion cases. The total number of ITC fraud cases in the current fiscal stood at 13,018 involving an amount of Rs 46,472 crore. A voluntary deposit of Rs 2,211 crore was made. According to the GST Investigation Wing data, in 2023-24 fiscal 20,582 evasion cases were detected involving Rs 2.30 lakh crore. In 2022-23, GST evasion detection was Rs 1.32 lakh crore, in 2021-22 (Rs 73,238 crore) and in 2020-21 (Rs 49,384 crore).

Minister of State for Finance Pankaj Chaudhary said the Central Government and GSTN have taken various steps to improve compliance and prevent tax evasions, including providing intelligence inputs, detecting fraudulent registration, and suspicious e-way bill activity and selection of returns for scrutiny and selection of taxpayers for audit based on various risk parameters. He said these measures are helpful in safeguarding the revenue and nabbing the evaders. Certain projects were also undertaken such as ‘Project Anveshan' (Analytics, Verification, Shortlisting of Anomalies) whereby newer techniques like Facial Recognition System (FRS), E-way bill data etc. were used for early identification of GSTINs with propensity for fake/ fraudulent activity to generate Intelligence reports.

The CNX Nifty ended at 22497.90, up by 37.60 points or 0.17% after trading in a range of 22314.70 and 22522.10. There were 29 stocks advancing against 21 stocks declining on the index. (Provisional)

The top gainers on Nifty were Trent up by 4.08%, BPCL up by 2.98%, Sun Pharma up by 2.72%, ICICI Bank up by 2.51% and Shriram Finance up by 2.02%. On the flip side, Indusind Bank down by 27.16%, Infosys down by 2.34%, Mahindra & Mahindra down by 2.11%, Bajaj Finserv down by 1.90% and Power Grid down by 1.47% were the top losers. (Provisional)

European markets were trading mostly in green; France’s CAC rose 17.21 points or 0.21% to 8,064.81 and Germany’s DAX gained 113.32 points or 0.5% to 22,734.27, while UK’s FTSE 100 decreased 14.41 points or 0.17% to 8,585.81.

Asian markets settled mostly down on Tuesday as they tracked Wall Street’s overnight weakness following rising uncertainty around US President Trump's trade policies and the outlook for inflation and economic growth. Meanwhile, investors are awaiting key US inflation print for further insights into the Federal Reserve’s interest rate path. Japanese shares fell as the Japanese currency yen touched a five-month high due to growing fears over tariff-driven downturn in the United States. However, Chinese shares gained as Citigroup upgraded Chinese equities to overweight, citing DeepSeek's artificial intelligence technology breakthrough, the government's support for the technology sector and still-cheap valuations.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,379.83

13.67

0.40

Hang Seng

23,782.14

-1.35

-0.01

Jakarta Composite

6,545.85

-52.36

-0.80

KLSE Composite

1,520.15

-16.31

-1.06

Nikkei 225

36,793.11

-235.16

-0.64

Straits Times

3,825.83

-73.24

-1.91

KOSPI Composite

2,537.60

-32.79

-1.29

Taiwan Weighted

22,071.09

-388.06-1.76
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