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Indices continue to trade under pressure in late morning deals
Jul-18-2025

Indian equity indices continued to trade under pressure in late morning deals as market participants indulged in reducing their positions. The broader indices were also trading in red with the BSE Mid cap index and Small cap index falling in the range of 0.40-0.45%. Sentiments were weak on account of foreign fund outflows and a muted start to the earnings season. Traders overlooked a private report that the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) may go for another cut in the policy rate of 25 basis points (bps) in the upcoming August policy meeting, bringing it down to 5.25 per cent. Most of the sectoral indices on the BSE were trading in red led by Bankex, Telecom, Capital Goods, Industrials and Healthcare.

On the global front, Asian markets were trading mostly in green, following positive cues from the US markets overnight, as traders reacted to upbeat economic data from the U.S. and Japan that renewed optimism about the global economy. Back home, in the stock specific developments, Afcons Infrastructure rose on bagging two road construction orders from Croatian Motorways in Croatia. However, Axis Bank slumped as asset quality issues and slower loan growth weighed on its Q1 earnings.

The BSE Sensex is currently trading at 81766.83, down by 492.41 points or 0.60% after trading in a range of 81628.26 and 82334.75. There were 4 stocks advancing against 26 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.40%, while Small cap index down by 0.45%.

The only gaining sectoral index on the BSE was Metal up by 0.43%, while Bankex down by 1.17%, Telecom down by 0.83%, Capital Goods down by 0.77% Industrials down by 0.71% and Healthcare down by 0.60% were the top losing indices on BSE.

The few gainers on the Sensex were Tata Steel up by 1.38%, Infosys up by 0.55%, Bajaj Finance up by 0.54% and Tata Motors up by 0.37%. On the flip side, Axis Bank down by 4.06%, Bharti Airtel down by 1.70%, Kotak Mahindra Bank down by 1.58%, Adani Ports down by 1.42% and Tech Mahindra down by 1.15% were the top losers.

Meanwhile, Amid US President Donald Trump threatening to impose a 100 per cent tariffs on Russian oil buyers, the economic think tank GTRI has suggested that India should resist the US pressure to stop purchasing oil from Russia and continue buying the commodity from Moscow as it has helped India manage inflation and maintain economic stability in a volatile global environment. Moreover, it hinted that altering the policy will not stop US threats, in fact it will invite more pressure from US as preventing India from buying Russian crude is not the only demand made by US President Donald Trump, he frequently issues tariff threats for various reasons.

Based on Trump’s tariff threats, it noted that India sees no value in giving in to US pressure on Russian oil. Further, on India-US trade deal, GTRI warned that the trade deal with US doesn’t guarantee protection as Trump could shift the goalposts later on.

The recent vessel tracking data from global commodity market analytics firm Kpler had showed that India imported 2.08 million barrels per day (bpd) of Russian crude in June, the highest since July 2024. Indian refiners seized the opportunity, turning Russia, once a marginal supplier, into India's largest source of crude oil, overtaking traditional suppliers from West Asia. Russia now accounts for as much as 40% of India's oil imports.

The CNX Nifty is currently trading at 24967.30, down by 144.15 points or 0.57% after trading in a range of 24925.25 and 25144.60. There were 12 stocks advancing against 38 stocks declining on the index.

The top gainers on Nifty were Wipro up by 2.90%, Tata Steel up by 1.22%, Indusind Bank up by 0.66%, Bajaj Finance up by 0.64% and Infosys up by 0.56%. On the flip side, Axis Bank down by 4.12%, SBI Life down by 2.43%, Shriram Finance down by 1.74%, HDFC Life Insurance down by 1.69% and Bharti Airtel down by 1.65% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 192.8 points or 0.78% to 24,691.75, Jakarta Composite gained 92.25 points or 1.25% to 7,379.27, Shanghai Composite strengthened 9.22 points or 0.26% to 3,526.05, Straits Times rose 23.66 points or 0.57% to 4,185.09 and Taiwan Weighted added 212.91 points or 0.91% to 23,326.19. However, KOSPI dropped 6.48 points or 0.2% to 3,185.81 and Nikkei 225 slipped 90.12 points or 0.23% to 39,811.07.
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