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Equity indices continue to trade in red in late morning deals
May-30-2025

Domestic equity indices continued to trade in red in late morning deals on account of selling in Infosys, Tata Motors, Tech Mahindra, Asian Paints and Tata Steel companies’ stocks. Weak cues from other Asian markets weighed on the domestic sentiments. Traders overlooked a private report that India's economic growth likely picked up pace in the January-March quarter, buoyed by stronger rural demand and higher government spending, even as private firms delayed investments amid global uncertainties. Gross domestic product (GDP) is expected to have grown 6.7 per cent year-on-year in the March quarter, up from 6.2 per cent in the previous three months. On the BSE sectoral front, traders were seen pilling up positions in Capital Goods, Industrials and Power, while selling was witnessed in Metal, Basic Materials, TECK, IT and Telecom.

On the global front, Asian markets were trading in red as U.S. appealed court reinstates Trump tariffs. The U.S. Court of International Trade ruled that Trump had overstepped his authority when he imposed his reciprocal tariffs. The court ordered that the challenged tariff orders be vacated. Back home, in the stock specific development, Ola Electric Mobility dropped after the company posted weak Q4FY25 results.

The BSE Sensex is currently trading at 81453.96, down by 179.06 points or 0.22% after trading in a range of 81286.45 and 81698.21. There were 7 stocks advancing against 23 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index was down by 0.31%, while Small cap index up by 0.08%.

The top gaining sectoral indices on the BSE were Capital Goods up by 0.96%, Industrials up by 0.48% and Power up by 0.28%, while Metal down by 1.19%, Basic Materials down by 0.80%, TECK down by 0.78%, IT down by 0.77% and Telecom down by 0.76% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 2.89%, Bajaj Finserv up by 0.69%, Larsen & Toubro up by 0.47%, Bharat Electronics up by 0.10% and ICICI Bank up by 0.10%. On the flip side, Infosys down by 1.46%, Tata Motors down by 1.20%, Tech Mahindra down by 1.15%, Asian Paints down by 1.10% and Tata Steel down by 0.98% were the top losers.

Meanwhile, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Amardeep Singh Bhatia has highlighted that the foreign direct investments (FDI) in the country rose to a three-year high of $81 billion in 2024-25 and are expected to grow further. Meanwhile, he pointed out that increased investments by Indian industry in other countries demonstrate the fact that they are realising they have to grow. He added that the industry not only need to be focussed internally, but also need to acquire technology, need to secure resources and gain greater market access in other countries.

The country is negotiating free trade agreements (FTAs) with multiple trading partners, Bhatia has suggested that the free trade agreements that India is signing will provide opportunities for all businesses. Besides, he also noted that the production-linked incentive schemes for sectors like electronics are helping to boost manufacturing. Further, he has urged the industry to look beyond the uncertainties, which are short-term in nature, and rather adopt a longer-term horizon to truly capitalize on the emerging opportunities.

During last financial year, the total FDI, which includes equity inflows, reinvested earnings and other capital, grew 14% to $81.04 billion. Meanwhile, it was $71.3 billion in 2023-24. During 2024-25, Singapore emerged as the largest source of FDI with $14.94 billion inflows. It was followed by Mauritius ($8.34 billion), the US ($5.45 billion), the Netherlands ($4.62 billion), the UAE ($3.12 billion), Japan ($2.47 billion), Cyprus ($1.2 billion), UK ($795 million), Germany ($469 million), and Cayman Islands ($371 million).

The CNX Nifty is currently trading at 24774.15, down by 59.45 points or 0.24% after trading in a range of 24717.40 and 24863.95. There were 15 stocks advancing against 35 stocks declining on the index.

The top gainers on Nifty were Eternal up by 3.00%, Bajaj Finserv up by 0.70%, Larsen & Toubro up by 0.47%, Apollo Hospital up by 0.35% and Coal India up by 0.35%. On the flip side, Bajaj Auto down by 2.30%, Hindalco down by 1.75%, Infosys down by 1.51%, Shriram Finance down by 1.25% and Tata Motors down by 1.21% were the top losers.

All Asian markets were trading lower; Hang Seng declined 334.04 points or 1.44% to 23,239.34, Shanghai Composite weakened 7.37 points or 0.22% to 3,356.08, Straits Times fell 4.13 points or 0.11% to 3,912.71, KOSPI dropped 23.11 points or 0.86% to 2,697.53 and Nikkei 225 slipped 363.31 points or 0.95% to 38,069.67. 
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