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Firm trade prevails; Realty stocks shine
May-12-2025

Key Indian benchmarks continued their firm trade in morning session, with the Sensex and Nifty gaining over 2270 and 680 points, amid positive Asian cues. Sentiments were optimistic after India and Pakistan announced reaching an understanding to stop all firings and military actions on land, air and sea. Some support also came as the Confederation of Indian Industry (CII) president Sanjiv Puri stated that India's GDP is projected to grow at 6.5 per cent in the current fiscal (FY26) and the country's economy is resilient enough to overcome the short-term impact of geopolitical issues. Traders overlooked exchange data showed Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,798.71 crore on Friday, after remaining net buyers for many days. On the global front, Asian markets were trading higher as investors' sentiments were boosted by signs of easing tensions between the United States and China after a weekend of high-level trade talks.  

The BSE Sensex is currently trading at 81725.18, up by 2270.71 points or 2.86% after trading in a range of 80651.07 and 81830.65. There were 28 stocks advancing against 2 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 3.10%, while Small cap index was up by 3.80%.

The top gaining sectoral indices on the BSE were Realty up by 4.68%, Utilities up by 4.40%, Power up by 4.21%, IT up by 3.78% and Industrials up by 3.56%, while there were no losing sectoral indices on the BSE. 

The top gainers on the Sensex were Adani Ports &SEZ up by 4.02%, Infosys up by 3.91%, Axis Bank up by 3.69%, Tata Steel up by 3.54% and HCL Technologies up by 3.51%. On the flip side, Sun Pharma down by 3.66% and Indusind Bank down by 0.09% were the only losers.

Meanwhile, Economic think tank Global Trade Research Initiative (GTRI) has suggested that India should take cues from the US-UK trade pact and exercise caution while negotiating an agreement with America to ensure that the deal is reciprocal, balanced, and not driven solely by political considerations. It said that the limited trade deal announced between the US and UK on May 8 offers clues about the kind of trade arrangements Washington may pursue with other major partners, most notably India. Further, it stated that, a closer look reveals that while the UK has made sweeping tariff concessions to America, the US has offered far less in return. 

It has raised caution saying that if the UK-US deal sets the template, India can expect growing US pressure to finalise a mini-deal of its own - focused on tariff cuts and key strategic commitments rather than a full free trade agreement (FTA) that may come much later. It has warned that India may be asked to reduce tariffs on a basket of sensitive agricultural products, including soybeans, ethanol, apples, almonds, walnuts, raisins, avocados, spirits, many GM (genetically modified) products and meat and poultry. Besides, tariff concessions on automobiles are also expected, as India has already agreed to reduce duties on select UK vehicles from 100 per cent to 10 per cent under its recent agreement. 

Suggesting that the country must tread cautiously while negotiating the proposed bilateral trade agreement (BTA) with the US, It said that the US is also expected to push India for large-scale commercial purchases. These could include Oil, LNG, military and civilian aircraft from Boeing, helicopters, or even nuclear reactors. A team of senior officials from India is expected to again visit Washington this month to hold discussions with their US counterparts on the proposed BTA.

The CNX Nifty is currently trading at 24691.05, up by 683.05 points or 2.85% after trading in a range of 24378.85 and 24737.80. There were 48 stocks advancing against 2 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 6.54%, JIO Financial Services up by 5.05%, Trent up by 4.54%, Shriram Finance up by 4.07% and Adani Ports &SEZ up by 4.06%. On the flip side, Sun Pharma down by 3.66% and Indusind Bank down by 0.12% were the only losers.

Asian markets were trading higher; Nikkei 225 surged 93.07 points or 0.25% to 37,596.40, Taiwan Weighted added 196.49 points or 0.94% to 21,111.53, Hang Seng advanced 212.14 points or 0.92% to 23,079.88, KOSPI increased 17.20 points or 0.67% to 2,594.47 and Shanghai Composite strengthened 12.53 points or 0.37% to 3,354.53.
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