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EQUITY
Key indices end lower on Thursday
Mar-13-2025

Indian equity benchmarks reversed their early gains to close lower on Thursday due to selling in Realty, Auto and Consumer Discretionary counters. Some concerns also persisted about U.S. President Donald Trump's tariff war and its potential impact on global growth.

Some of the important factors in today’s trade: 

Unabated foreign capital outflows: Foreign institutional investors (FIIs) offloaded equities worth Rs 1,627.61 crore on a net basis on Wednesday, according to exchange data.

Moderating India's retail inflation failed to cheer investors: Retail inflation slipped to 3.61 per cent in February mainly due to the decline in the rate of price rise in vegetables and protein-rich items, creating space for the Reserve Bank of India for second reduction in interest rate next month.

Private sector in India expects demand conditions to remain favourable: The HSBC India Business Outlook report, compiled by S&P Global, has showed that private sector companies in India expect demand conditions to remain favourable over the course of the coming 12 months, on the back of new projects in the pipeline and product differentiation, alongside advertising and tech investment. 

Rupee surged against US Dollar: Indian rupee surged against the US dollar following robust macroeconomic data (CPI below RBI's mandate and strong IIP growth), which could provide room for the RBI in easing rates. Additionally, the decline in crude oil prices and the strengthening of regional currencies provided further support to the rupee.

Global front: European markets were trading higher as tamer-than-expected U.S. CPI data led to some optimism about the Federal Reserve resuming interest rate cuts in the near future. Asian markets settled mostly down as tariff worries kept investors on the edge after Canada and the EU swiftly retaliated against U.S. steel and aluminum tariffs and President Trump vowed to respond to the countermeasures.

Finally, the BSE Sensex fell 200.85 points or 0.27% to 73,828.91, and the CNX Nifty was down by 73.30 points or 0.33% to 22,397.20.  

The BSE Sensex touched high and low of 74,401.11 and 73,770.59 respectively. There were 8 stocks advancing against 22 stocks declining on the index.

The broader indices ended in red; the BSE Mid cap index fell 0.77%, while Small cap index was down by 0.62%.

The few gaining sectoral indices on the BSE were Bankex up by 0.14%, PSU up by 0.09% and Power up by 0.03%, while Realty down by 1.79%, Auto down by 0.97%, Consumer Discretionary down by 0.87%, Metal down by 0.80% and Basic Materials down by 0.69% were the top losing indices on BSE.

The top gainers on the Sensex were SBI up by 0.67%, ICICI Bank up by 0.62%, NTPC up by 0.48%, Sun Pharma up by 0.45% and Tata Steel up by 0.37%. On the flip side, Zomato down by 1.97%, Tata Motors down by 1.95%, Indusind Bank down by 1.84%, Asian Paints down by 0.98% and Bajaj Finance down by 0.94% were the top losers.

Meanwhile, Prime Minister Narendra Modi and his Mauritius counterpart Navinchandra Ramgoolam have agreed to facilitate trade settlements in local currencies, viz Indian Rupee and Mauritian Rupee. The two leaders also agreed to hold the second session of the High Power Joint Trade Committee under the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) to further strengthen trade, economic cooperation and partnership between the two nations. The two leaders reaffirmed that Mauritius and India share a ‘special and unique relationship’ that is unparalleled, given the shared bonds of history, language, culture, heritage, kinship, and values.

PM Modi and Navinchandra Ramgoolam agreed to ratify the Protocol on Amendment of Double Taxation Avoidance Agreement at the earliest to harmonise with International Standards on treaty abuse. The two leaders agreed to promote investments in sunrise sectors like ocean economy, pharmaceuticals, IT and Fintech, among others, to support Mauritius in diversification of its economy for the long term and sustainable economic growth.

India-Mauritius Joint Vision for an Enhanced Strategic Partnership stated ‘Acknowledging that the conclusion of the Comprehensive Economic Cooperation and Partnership Agreement (CECPA), India's first ever trade agreement with a country in African region, marked a major milestone in the economic and trade relations of both countries, the leaders underscored the need for exploiting the full potential of bilateral trade for the shared objective of economic growth and prosperity of Mauritius and India.’

Highlighting Mauritius's locational advantage and cultural linkages, inter-alia, with Africa its being part of African Continental Free Trade Area (AfCFTA), The Prime Minister of Mauritius underlined the need for Indian companies and businesses to see Mauritius as a gateway to India's engagements with Africa and benefit from trade and business opportunities offered by Africa. The two leaders noted that India has been the leading development partner for Mauritius since its independence and has contributed significantly towards its infrastructure and developmental needs.

The CNX Nifty traded in a range of 22,558.05 and 22,377.35. There were 12 stocks advancing against 38 stocks declining on the index.  

The top gainers on Nifty were Bharat Electronics up by 1.18%, SBI up by 0.68%, Cipla up by 0.40%, ICICI Bank up by 0.38% and Power Grid Corporation up by 0.36%. On the flip side, Shriram Finance down by 2.66%, Hero MotoCorp down by 2.26%, Tata Motors down by 2.04%, HDFC Life Insurance Company down by 1.80% and Indusind Bank down by 1.76% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 31.71 points or 0.37% to 8,572.68, France’s CAC rose 42.05 points or 0.52% to 8,031.01 and Germany’s DAX gained 55.83 points or 0.25% to 22,732.24.

Asian markets settled mostly down on Thursday on tariff related worries and concerns over a potential recession in the United States. Market sentiments weakened further, even after a key US inflation report showed consumer prices increased at a slower-than-expected pace last month and bolstered the case for more Federal Reserve interest-rate cuts this year. Chinese shares dropped amid signs of deepening deflationary pressures in the country. Moreover, Japanese shares declined marginally as the yen strengthened after comments from the Bank of Japan Governor Kazuo Ueda bolstered interest rate hike expectations. Seoul shares fell marginally after the Bank of Korea said in a monetary policy report that US President Donald Trump's escalating trade war could drag on longer than expected and increase the risk of capital outflows while also raising volatility in the US Dollar - Korean Won Exchange Rate.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,358.73

-13.19

-0.39

Hang Seng

23,462.65

-137.66

-0.59

Jakarta Composite

6,647.42

-17.63

-0.27

KLSE Composite

1,510.03

25.20

1.70

Nikkei 225

36,790.03

-29.06

-0.08

Straits Times

3,837.52

4.45

0.12

KOSPI Composite

2,573.64

-1.18

-0.05

Taiwan Weighted

21,961.68

-316.68-1.44
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