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Key gauges end flat on Tuesday
Mar-11-2025

Indian equity benchmarks erased almost all of their initial losses and ended flat on Tuesday as investors preferred to remain on the sidelines awaiting further triggers ahead of macroeconomic data release. A steep decline in IT and banking stocks also kept investors wary. A weak global outlook led to a gap-down opening, but selective buying in heavyweight stocks helped the indices to recover losses and settle flat. 

Some of the important factors in today’s trade:

Outflow of foreign capital: Foreign institutional investors (FIIs) offloaded equities worth Rs 485.41 crore on a net basis on Monday, according to exchange data. 

Investors eyed domestic economic data: Investors were looking ahead to the upcoming domestic economic data - consumer price index (CPI) and index of industrial production (IIP) - to be released tomorrow.  

Rupee gained against Dollar: Indian rupee recovered from steep losses and settled with gains against the US dollar as the American currency index fell to its four-month low level and crude oil prices also stayed subdued. 

Steps by govt to reduce country’s dependence on crude oil imports: Minister of State for Petroleum and Natural Gas, Suresh Gopi said various steps have been taken by government and public sector undertakings (PSUs) oil marketing companies (OMCs) to address issues related to fuel pricing, the impact of global crude oil prices, and to mitigate the burden on consumers. 

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

Finally, the BSE Sensex fell 12.85 points or 0.02% to 74,102.32, and the CNX Nifty was up by 37.60 points or 0.17% to 22,497.90. 

The BSE Sensex touched high and low of 74,195.17 and 73,663.60 respectively. There were 15 stocks advancing against 15 stocks declining on the index.

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

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.

The top gainers on the Sensex were Sun Pharma up by 2.62%, ICICI Bank up by 2.49%, Bharti Airtel up by 1.93%, HCL Technologies up by 1.22% and Maruti Suzuki up by 0.86%. On the flip side, Indusind Bank down by 27.17%, Infosys down by 2.48%, Bajaj Finserv down by 1.81%, Mahindra & Mahindra down by 1.77% and Zomato down by 1.52% were the top losers.

Meanwhile, 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. The gross additional spending sought by the government is over Rs 6.78 lakh crore, of which Rs 6.27 lakh crore would be matched by savings and receipts. As per second batch of Supplementary Demands for Grants proposed by Finance Minister Nirmala Sitharaman in the Lok Sabha, the net additional spending by the government would be Rs 51,462.86 crore in the current fiscal.

The additional expenditure includes Rs 14,100 crore to the department of fertilisers, including subsidies for urea and P&K fertiliser. An additional allocation of Rs 13,449 crore has been provided for the pension of government employees, including Rs 7,000 crore towards the Unified Pension Scheme (UPS).

The total spending also includes a defence pension of Rs 8,476 crore and Rs 5,322 crore to the Department of Telecommunications. Additional Rs 2,186 crore funds have been allocated to the agriculture department and Rs 3,722 crore to the Union Territory of Jammu & Kashmir for meeting additional expenditure to meet the resource gap.

The CNX Nifty traded in a range of 22,522.10 and 22,314.70. There were 33 stocks advancing against 17 stocks declining on the index.  

The top gainers on Nifty were Trent up by 4.13%, BPCL up by 3.02%, Sun Pharma up by 2.82%, Bharat Electronics up by 2.49% and ICICI Bank up by 2.41%. On the flip side, Indusind Bank down by 27.06%, Infosys down by 2.02%, Bajaj Finserv down by 1.75%, Mahindra & Mahindra down by 1.66% and Power Grid Corp down by 1.35% were the top losers.

European markets were trading mostly in green; France’s CAC rose 13.77 points or 0.17% to 8,061.37 and Germany’s DAX gained 86.73 points or 0.38% to 22,707.68, while UK’s FTSE 100 decreased 13.75 points or 0.16% to 8,586.47. 

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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