HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Key gauges remain in red in morning deals
Apr-09-2025

Indian equity benchmarks remained in red in morning deals following a global equity sell-off triggered by rising trade tensions. Traders overlooked report that the RBI slashed key interest rate by 25 basis points, for the second time in a row, to support a shuttering economy hit by reciprocal tariffs imposed by the US. Following the rate cut, the key policy rate eased to 6 per cent providing relief to home, auto and corporate loan borrowers. Besides, India and the European Union (EU) are exploring the option of negotiating their free trade agreement (FTA) in phases amidst an uncertain global trade environment following imposition of sweeping tariffs by the US. India has followed the practice of negotiating such trade pacts in two phases with Australia. 

On the global front, Asian markets are trading mostly in red as hopes of a tariff delay faded and the escalation of tariff battle between the U.S. and China fueled worries over an economic recession globally. U.S. President Donald Trump is pushing ahead with higher duties on roughly 60 trading partners that he dubbed the ‘worst offenders’, dashing hopes for a last-minute agreement. 

The BSE Sensex is currently trading at 73934.82, down by 292.26 points or 0.39% after trading in a range of 73673.06 and 74103.83. There were 12 stocks advancing against 18 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 1.40%, while Small cap index was down by 1.52%.

The lone gaining sectoral index on the BSE was FMCG up by 0.79%, while IT down by 2.83%, TECK down by 2.00%, Metal down by 1.74%, Industrials down by 1.55% and Realty down by 1.54% were the top losing indices on BSE.

The top gainers on the Sensex were Power Grid Corporation up by 2.29%, Nestle up by 1.40%, ITC up by 1.15%, Mahindra & Mahindra up by 1.11% and Hindustan Unilever up by 0.91%. On the flip side, Tech Mahindra down by 3.73%, Infosys down by 3.04%, HCL Technologies down by 2.50%, Tata Steel down by 2.15% and Eternal down by 1.81% were the top losers.

Meanwhile, India's best interests will be kept in mind while inking trade pacts, Union Commerce Minister Piyush Goyal has said businesses. He said ‘India First is our mantra, is our guiding principle.’ Declining to divulge the exact contours of the ongoing trade talks with the US, He said India is in talks with many countries. He said 'They continue to go on very smoothly in a positive direction and all is well.'

He stated ‘We are covering a very wide array of subjects, a very wide array of products and I can assure business persons across the country that we are keeping the best interests of India at the forefront of our discussions.’ Further, he said the bilateral trade agreement with the US will power the economy towards becoming a developed nation by 2047 when the country celebrates 100 years of independence.

Besides, he said India is mulling to start an Indian Institute of Management and Indian Institute of Foreign Trade in the UAE. The decision to open these two premier educational institutes after the establishment of IIT must be seen as an important event illustrating India's ties. He said India wants Dubai to serve as the gateway for India's engagement with the Middle East region, and added that 20 lakh Indians reside in the city.

The CNX Nifty is currently trading at 22416.10, down by 119.75 points or 0.53% after trading in a range of 22356.60 and 22468.70. There were 16 stocks advancing against 34 stocks declining on the index.

The top gainers on Nifty were Power Grid Corporation up by 2.28%, Nestle up by 1.39%, ITC up by 1.22%, Mahindra & Mahindra up by 1.14% and Tata Consumer Product up by 1.12%. On the flip side, Wipro down by 5.02%, Tech Mahindra down by 3.63%, Infosys down by 3.06%, Adani Enterprises down by 2.58% and HCL Technologies down by 2.50% were the top losers.

Asian markets are trading mostly in red; Nikkei 225 slipped 1564.89 points or 4.74% to 31,447.69, Taiwan Weighted lost 1133.95 points or 6.14% to 17,326.00, Hang Seng declined 312.44 points or 1.58% to 19,815.24, KOSPI dropped 39.53 points or 1.69% to 2,294.70, Straits Times fell 74.83 points or 2.16% to 3,394.64 and Jakarta Composite plunged 28.33 points or 0.47% to 5,967.81.

On the flip side, Shanghai Composite strengthened 7.41 points or 0.24% to 3,152.96.
  RELATED NEWS >>
Most Viewed >>
April 09 , 2025
These value mutual funds delivered over 25% an
April 09 , 2025
Flipkart Minutes joins Blinkit, Zepto to deliv
April 09 , 2025
Union AMC plans SIF, AIF, and GIFT City foray,
April 09 , 2025
Tide turns mid-March, FPIs pour Rs 17,585 cr i
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.