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Benchmarks trade higher after cautious start ahead of US-Russia talks
Aug-14-2025

Indian equity benchmarks made a cautious start on Thursday as investors were in a wait-and-watch mode ahead of the US-Russia talks on August 15. Also, traders avoided long positions ahead of long weekend holiday. Meanwhile, market participants were looking for the Wholesale inflation data to be out later in the day, for more directional cues. Markets soon gained momentum to trade higher in early deals as S&P Global Ratings Director YeeFarn Phua said that Trump tariffs will not have any impact on India's growth, as it is not a trade-oriented economy, and its sovereign ratings outlook will continue to remain positive.

On the global front, Asian markets are trading mostly lower, despite the broadly positive cues from Wall Street overnight, amid investors looked for interest rate cut from Fed. U.S. Treasury Secretary Scott Bessent wants the Fed to keep the door open to a larger, 50 basis point rate cut next month following recent weak US jobs data. Back home, sugar stocks are in focus as sugar trade association AISTA has requested the government to allocate export quotas only to mills willing to ship from their own facilities, saying the current system hampers exports and hurts mill profitability.

The BSE Sensex is currently trading at 80725.98, up by 186.07 points or 0.23% after trading in a range of 80489.86 and 80741.34. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index rose 0.09%, while Small cap index was down by 0.07%.

The top gaining sectoral indices on the BSE were IT up by 0.82%, TECK up by 0.63%, Bankex up by 0.36%, Consumer Durables up by 0.32% and Healthcare up by 0.27%, while Metal down by 1.06%, Oil & Gas down by 0.80%, Energy down by 0.60%, PSU down by 0.46% and Basic Materials down by 0.44% were the top losing indices on BSE.

The top gainers on the Sensex were Infosys up by 1.75%, Maruti Suzuki up by 0.86%, HDFC Bank up by 0.64%, Trent up by 0.47% and Titan Co up by 0.43%. On the flip side, Tata Steel down by 1.72%, Bharat Electronics down by 1.12%, NTPC down by 0.75%, Adani Ports & SEZ down by 0.74% and Ultratech Cement down by 0.34% were the top losers.

Meanwhile, S&P Global Ratings Director YeeFarn Phua has said that Trump tariffs will not have any impact on India's growth, as it is not a trade-oriented economy, and its sovereign ratings outlook will continue to remain positive. In May last year, S&P had upgraded the outlook on India's sovereign rating of 'BBB-' to positive, citing robust economic growth. He added that India's exposure to the US in terms of exports to GDP, it is just about 2 per cent. S&P estimates India's GDP growth in the current fiscal year at 6.5 per cent, the same as it was in the previous financial year. YeeFarn further said major sectors, like pharmaceuticals and consumer electronics, which export to the US, are exempted from tariffs. He said ‘Over the longer term, we don't think this (higher tariffs) will be a big hit (on India's economy), and therefore, the positive outlook on India remains’. 

On whether US tariffs would impact investment flows into India, he said the 'China plus one' strategy has played out for businesses over the last few years, and companies are setting up businesses in India mainly to cater to domestic demand. He also said ‘Many (businesses) are going there not because they are looking to export just to the US. Many of them are going there because of the huge domestic market as well. An emerging middle class is getting larger...So, even for those who are looking to invest more in India and looking to export, it might not necessarily be the US market’.

On August 6, US President Donald Trump announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total to 50 per cent from August 27. The White House said the measure responds to India's continued purchase of Russian oil. In 2021-25, the US was India's largest trading partner. The US accounts for about 18 per cent of India's total goods exports, 6.22 per cent in imports, and 10.73 per cent in bilateral trade. With America, India had a trade surplus (the difference between imports and exports) of $35.32 billion in goods in 2023-24. It was $41 billion in 2024-25. In 2024-25, bilateral trade between India and the US reached $186 billion. India exported goods worth $86.5 billion while imports stood at $45.3 billion.

The CNX Nifty is currently trading at 24658.05, up by 38.70 points or 0.16% after trading in a range of 24604.60 and 24672.85. There were 27 stocks advancing against 22 stocks declining, while 1 stock remain unchanged on the index.

The top gainers on Nifty were Infosys up by 1.63%, HDFC Life Insurance up by 1.58%, Wipro up by 1.25%, Maruti Suzuki up by 0.78% and Dr. Reddy's Lab up by 0.71%. On the flip side, Tata Steel down by 1.83%, ONGC down by 1.42%, Bharat Electronics down by 1.16%, Adani Ports & SEZ down by 0.93% and Hindalco down by 0.89% were the top losers.

Asian markets are trading mostly in red; Nikkei 225 slipped 628.67 points or 1.47% to 42,646.00, Taiwan Weighted lost 141.68 points or 0.58% to 24,228.34, Hang Seng declined 49.67 points or 0.19% to 25,564.00, Straits Times fell 17.54 points or 0.41% to 4,255.22 and KOSPI was down by 9.15 points or 0.28% to 3,215.22. On the other hand, Jakarta Composite gained 56.81 points or 0.72% to 7,949.72 and Shanghai Composite was up by 7.42 points or 0.2% to 3,690.88.
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