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Key gauges trade marginally in green in morning deals
Jun-04-2025

Indian equity benchmarks were trading marginally in green in morning deals, led by gains in TECK, Auto and IT stocks tracking a rally in global markets. Traders took some support with a survey showed India's dominant services sector maintained its robust growth in May, fueled by strong export demand and record hiring, although price pressures intensified. The HSBC India Services Purchasing Managers' Index , compiled by S&P Global, stood at 58.8 in May, marginally up from April's 58.7 but lower than a preliminary reading of 61.2. Some support also came as the Organisation for Economic Co-operation and Development (OECD) in its latest 'Economic Outlook' has projected India’s economic growth at 6.3% in FY2025-26 and 6.4% in FY2026-27. As per the report, India projected to continue to experience strong and broadly stable economic growth. Besides, inflation is projected to remain largely benign. On the global front, Asian markets are trading mostly in green after data showed the US labour market is holding up despite concerns about risks from President Donald Trump’s tariff war.

The BSE Sensex is currently trading at 80886.69, up by 149.18 points or 0.18% after trading in a range of 80705.18 and 80967.68. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.19%, while Small cap index up by 0.22%.

The top gaining sectoral indices on the BSE were TECK up by 0.65%, Auto up by 0.61%, IT up by 0.48%, Telecom up by 0.39%, Metal up by 0.31% while, Realty down by 0.73%, Oil & Gas down by 0.29%, PSU down by 0.23%, Energy down by 0.15%, Power down by 0.14% were the losing indices on BSE.

The top gainers on the Sensex were Bharti Airtel up by 1.35%, Tech Mahindra up by 1.12%, Tata Motors up by 1.06%, Mahindra & Mahindra up by 0.92% and Maruti Suzuki up by 0.85%. On the flip side, Trent down by 0.90%, NTPC down by 0.65%, Sun Pharma Inds. down by 0.56%, Titan Co down by 0.56% and Asian Paints down by 0.46% were the top losers.

Meanwhile, Moody's Ratings in its report on the banking sector has said India's domestic economic conditions will continue to be supportive for growth, which will help banks preserve their asset quality and maintain systemwide nonperforming loan (NPL) ratio 2-3 per cent in over next 12 months. It said asset quality will hold up despite global economic uncertainty.

It said the government capital expenditure, tax cuts for middle-class income groups to boost consumption and monetary easing will underpin the Indian economy. Also, a low-level of dependency on goods trade will shield it from external risks to an extent. It said the quality of wholesale loans will remain healthy, as companies maintain good profitability and low levels of leverage. Wholesale loans are a key part of Indian banks' loan books, along with retail and agriculture loans.

However, it projected the quality of unsecured retail loans will remain weaker than that of secured ones at least for the next few quarters. It added ‘New NPL formation rates for secured retail loans have broadly stayed low, while those for unsecured loans have risen in the past few quarters. As this trend persists, small private sector banks will continue to have weaker asset quality, than large private banks and public sector banks.’

The CNX Nifty is currently trading at 24581.20, up by 38.70 points or 0.16% after trading in a range of 24530.45 and 24612.75. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Bharti Airtel up by 1.63%, Shriram Finance up by 1.18%, Tech Mahindra up by 1.11%, Indusind Bank up by 1.06% and Mahindra & Mahindra up by 1.03%. On the flip side, Trent down by 0.95%, NTPC down by 0.64%, Titan Co down by 0.51%, Adani Enterprises down by 0.50% and Asian Paints down by 0.43% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 319.52 points or 0.85% to 37,766.33, Taiwan Weighted added 436.47 points or 2.07% to 21,563.40, Hang Seng advanced 168.24 points or 0.71% to 23,680.73, KOSPI increased 67.05 points or 2.48% to 2,766.02, Jakarta Composite gained 31.28 points or 0.44% to 7,076.10 and Shanghai Composite strengthened 14.6 points or 0.43% to 3,376.58.

On the flip side, Straits Times fell 4.98 points or 0.13% to 3,889.40. 
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