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Domestic indices trade higher in late morning deals
Apr-17-2025

Domestic equity indices erased all of their losses and were trading in green with gains of over quarter percent in late morning deals on account of buying by fund and retail investors. Meanwhile, broader indices were also trading higher with BSE Mid cap index and Small cap index gaining in the range of 0.30-0.65%. Positive cues from other Asian markets supported domestic sentiments. Traders were getting encouragement as an UN report said that India is expected to grow by 6.5 per cent in 2025 on the back of continued robust public spending and ongoing monetary easing, even as the world economy is on a recessionary trajectory, driven by escalating trade tensions and persistent uncertainty.

On the global front, Asian markets were trading mostly in green despite the broadly negative cues from US markets overnight. Back home, on the BSE sectoral front, traders were seen pilling up position in  Telecom, Bankex, Oil & Gas, Power and Healthcare, while selling was witnessed in IT, TECK, Capital Goods and Metal.

The BSE Sensex is currently trading at 77293.04, up by 248.75 points or 0.32% after trading in a range of 76665.77 and 77293.04. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.31%, while Small cap index up by 0.62%.

The top gaining sectoral indices on the BSE were Telecom up by 1.51%, Bankex up by 0.77%, Oil & Gas up by 0.50%, Power up by 0.47% and Healthcare up by 0.47% while, IT down by 1.39%, TECK down by 0.58%, Capital Goods down by 0.07% and Metal down by 0.06% were the top losing indices on BSE.

The top gainers on the Sensex were ICICI Bank up by 1.86%, Sun Pharma up by 1.28%, Bharti Airtel up by 1.24%, Eternal up by 1.15% and Indusind Bank up by 0.73%. On the flip side, HCL Technologies down by 2.14%, Tech Mahindra down by 1.76%, Larsen & Toubro down by 1.61%, Infosys down by 1.40% and Hindustan Unilever down by 0.82% were the top losers.

Meanwhile, the US being export heaven for Indian exporter, the recent government data showed that the US remained India's largest trading partner for the fourth consecutive year in 2024-25 with bilateral trade valued at $131.84 billion, while the country's trade deficit with China widened to $99.2 billion during the same period. In the fiscal year 2024-25, the country’s exports to China shrank 14.5 per cent to $14.25 billion as against $16.66 billion in 2023-24, however, country’s imports rose by 11.52 per cent in 2024-25 to $113.45 billion against $101.73 billion in 2023-24, leading to widening of trade deficit with China by 17%. China continued to be the second largest trading partner of India with $127.7 billion two-way commerce in 2024-25 as compared to $118.4 billion in 2023-24. 

Think tank GTRI (Global Trade Research Initiative), commenting on India-China trade deficit, has warned that the trade gap reflects deeper structural dependencies and has emphasized the need of fixing India’s internal manufacturing gaps and invest in deep industrial capabilities. It has highlighted that import demand was driven by rising demand for electronics, EV batteries, solar cells, and key industrial inputs -- sectors where China dominates India's supply chains. GTRI also highlighted that the PLI (production linked incentive) schemes are fuelling import growth due to their heavy reliance on imported components. Meanwhile, in last fiscal, UAE was the third largest trading partner of India with bilateral trade of $100.5 billion.

Indian exports to the US increased by 11.6 per cent to $86.51 billion in last fiscal year as against $77.52 billion in 2023-24, while the imports were up by 7.44 per cent to $45.33 billion against $42.2 billion in 2023-24. The trade surplus with US touched $41.18 billion in the last fiscal from $35.32 billion in 2023-24. In 2024, India's main exports to the US included drug formulations and biologicals ($8.1 billion), telecom instruments ($6.5 billion), precious and semi-precious stones ($5.3 billion), petroleum products ($4.1 billion), gold and other precious metal jewellery ($3.2 billion), ready-made garments of cotton, including accessories ($2.8 billion), and products of iron and steel ($2.7 billion). 

Meanwhile, the imports included crude oil ($4.5 billion), petroleum products ($3.6 billion), coal, coke ($3.4 billion), cut and polished diamonds ($2.6 billion), electric machinery ($1.4 billion), aircraft, spacecraft and parts ($1.3 billion), and gold ($1.3 billion). The bilateral trade between India and the US is expected to get a boost in the coming years as both are negotiating a trade agreement. The countries are aiming to increase two-way commerce in goods and services to $500 billion by 2030 from $191 billion at present.

The CNX Nifty is currently trading at 23512.10, up by 74.90 points or 0.32% after trading in a range of 23298.55 and 23517.35. There were 30 stocks advancing against 20 stocks declining on the index.

The top gainers on Nifty were ICICI Bank up by 1.87%, Grasim Industries up by 1.69%, Bharti Airtel up by 1.26%, Sun Pharma up by 1.22% and Eternal up by 1.21%. On the flip side, Wipro down by 5.35%, HCL Technologies down by 2.24%, Hero MotoCorp down by 2.09%, Tech Mahindra down by 1.86% and Larsen & Toubro down by 1.66% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 284.68 points or 1.33% to 21,341.66, Jakarta Composite gained 3.08 points or 0.05% to 6,403.13, Shanghai Composite strengthened 0.42 points or 0.01% to 3,276.42, Straits Times rose 38.37 points or 1.04% to 3,700.82, KOSPI increased 22.44 points or 0.91% to 2,469.87 and Nikkei 225 surged 373.63 points or 1.09% to 34,294.03. However, Taiwan Weighted lost 129.27 points or 0.67% to 19,338.73.
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