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Key gauges trade lower in morning deals
Apr-17-2025

Indian equity benchmarks were trading lower in morning deals, dragged down by IT, TECK and Metal stocks amid global uncertainties. Traders remained cautious as the World Trade Organisation (WTO) stated that the world merchandise trade is expected to decline by 0.2 per cent in volume terms in 2025 amid imposition of high tariffs by the US and China on each other. It said that the application of reciprocal tariffs and broader spillover of policy uncertainty could lead to an even sharper decline of 1.5 per cent in global goods trade and hurt export-oriented least-developed countries. However, losses remain capped as some support came with exchange data showed foreign portfolio investors stayed net buyers of Indian equities on Wednesday for the second session as they mopped up stocks worth Rs 3,936.42 crore. Sector-wise, stocks related to airline sector remained in watch as Airports' grouping ACI said that India is projected to surpass neighbouring China in air passenger traffic growth rate in 2026, growing at 10.5 per cent. On the global front, Asian markets are trading mostly in green even as escalating U.S.-China trade tensions and a deteriorating outlook for global trade. 

The BSE Sensex is currently trading at 76901.42, down by 142.87 points or 0.19% after trading in a range of 76665.77 and 77099.10. There were 6 stocks advancing against 24 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.20%, while Small cap index was down by 0.01%.

The top gaining sectoral indices on the BSE were Bankex up by 0.47%, Telecom up by 0.40% and Healthcare up by 0.05%, while IT down by 2.03%, TECK down by 1.26%, Metal down by 1.01%, Capital Goods down by 0.81% and Energy down by 0.73% were the top losing indices on BSE.

The top gainers on the Sensex were ICICI Bank up by 1.45%, Sun Pharma up by 0.78%, Bharti Airtel up by 0.75%, HDFC Bank up by 0.66% and Eternal up by 0.32%. On the flip side, HCL Technologies down by 3.16%, Infosys down by 2.10%, Tech Mahindra down by 1.88%, Larsen & Toubro down by 1.76% and Tata Steel down by 1.72% were the top losers.

Meanwhile, the Global Trade Research Initiative (GTRI) in its latest report has said that the US crackdown, which has imposed 125 per cent import tariffs on China, has unexpectedly created a rare opportunity for India’s small manufacturers, offering them a short-term export window. It said that the US move could potentially open new avenues for Indian manufacturers to increase exports to the US, capitalising on the shift in trade dynamics caused by the tariffs.

In 2024, the US imported over $148 billion worth of such products, with China alone supplying $105.9 billion-nearly 72 per cent of the total. India’s share was just $4.3 billion, or 2.9 per cent. It highlighted that due to China’s 125 per cent import tariffs, a large gap has opened in the US markets, which the small Indian manufacturers could fill. 

It mentioned ‘Indian producers already make many of these goods–from locks to lamps to plasticware–but mostly at a small scale. With the right government push on export incentives, product certifications, and financing, these firms could expand quickly and tap into this $100 billion opening. But the window is narrow-and may not stay open for long.’

The CNX Nifty is currently trading at 23382.30, down by 54.90 points or 0.23% after trading in a range of 23298.55 and 23434.60. There were 13 stocks advancing against 37 stocks declining on the index.

The top gainers on Nifty were ICICI Bank up by 1.58%, Grasim Industries up by 1.28%, Sun Pharma up by 0.80%, Bharti Airtel up by 0.71% and HDFC Bank up by 0.70%. On the flip side, Wipro down by 5.53%, HCL Technologies down by 3.00%, Hero MotoCorp down by 2.64%, Coal India down by 2.15% and Infosys down by 2.04% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 301.46 points or 0.89% to 34,221.86, Hang Seng advanced 341.91 points or 1.6% to 21,398.89, KOSPI increased 16.25 points or 0.66% to 2,463.68, Straits Times rose 50.25 points or 1.37% to 3,712.70, Jakarta Composite gained 8.55 points or 0.13% to 6,408.60 and Shanghai Composite strengthened 6.82 points or 0.21% to 3,282.82.

On the flip side, Taiwan Weighted lost 133.56 points or 0.69% to 19,334.44.
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