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Markets maintain gains in late morning deals
Sep-17-2025

Indian equity markets maintained their gains and were trading higher by over 0.30 percent in late morning deals owing to buying in Bharat Electronics, Trent, SBI, Maruti Suzuki and Kotak Mahindra Bank. Meanwhile, broader indices were also trading in green with BSE Mid cap index and Small cap index gaining in the range of 0.20-0.60%. Sentiments got boost after India and the U.S. agreed to speed up talks on a bilateral trade. The sentiments were further supported by Indian rupee appreciating 33 paise to 87.75 against the dollar at the Interbank Foreign Exchange. The rupee was trading at its highest level since August 29, 2025 supported by a weaker dollar index and easing US Treasury yields ahead of the Federal Reserve’s policy decision. On the BSE sectoral front, traders were seen piling up positions in Capital Goods, PSU, IT, Industrials and Oil & Gas, while selling was witnessed in Telecom, Consumer Durables, Metal, Utilities and FMCG.

On the global front, Asian markets were trading mixed following negative cues from the US markets overnight. Back home, in the stock specific development, One Mobikwik fell after the company reported that some merchants in Haryana colluded to claim unauthorised settlements worth Rs 40 crore.   

The BSE Sensex is currently trading at 82653.20, up by 272.51 points or 0.33% after trading in a range of 82490.47 and 82720.76. There were 23 stocks advancing against 7 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.24%, while Small cap index up by 0.56%.

The top gaining sectoral indices on the BSE were Capital Goods up by 0.91%, PSU up by 0.83%, IT up by 0.77%, Industrials up by 0.74% and Oil & Gas up by 0.62%, while Telecom down by 0.25%, Consumer Durables down by 0.18%, Metal down by 0.18%, Utilities down by 0.17%, FMCG down by 0.09% were the top losing indices on BSE.

The top gainers on the Sensex were Bharat Electronics up by 2.16%, Trent up by 1.19%, SBI up by 1.11%, Maruti Suzuki up by 1.05% and Kotak Mahindra Bank up by 0.99%. On the flip side, Titan down by 0.85%, Power Grid down by 0.47%, Tata Steel down by 0.47%, ITC down by 0.44% and Adani Ports down by 0.42% were the top losers.

Meanwhile, the rating agency ICRA has maintained its Negative outlook on power distribution segment, on account of weak operating efficiencies, inadequate tariff revisions, and high debt levels. It has highlighted that the regulatory assets (RA) position for seven state discoms remains elevated at around Rs 3 trillion. It added that Supreme Court (SC) has recently directed the liquidation of RA within four years, although implementation by state discoms remains to be seen. It has suggested that improved operating efficiency and implementation of regulatory reforms remain critical to address discom financial stress. 

ICRA has said that the tariff orders for FY2026 have been issued in 23 out of 28 states as of August 2025, indicating a moderate progress as these should have been issued by March 2025 for all states. Moreover, the median tariff hike at the all-India level remains modest at 1.9% in FY2026, lower than the 2.1% in FY2025, reflecting continued reluctance to align tariffs with the cost of supply, wherein the power purchase cost (PPC) remains the major contributor. However, it has indicated that the GST rate rationalisation of coal from 5% to 18% and removal of compensation cess of Rs 400 per ton, is expected to reduce the cost of generation for coal-based power generators. This is expected to further benefit the discoms, as the move is likely to translate into a reduction of around 12 paise per unit in their cost of supply as coal-based capacity accounts for over 70% of total generation at an all-India level.

Meanwhile, it noted that the gross debt position for state owned discoms at the all-India level rose to Rs 7.4 trillion as of March 2024, up from Rs 6.6 trillion a year earlier, reflecting continued reliance on borrowings. Further, it raised caution over subsidy dependence of discoms and expects the dependency to rise to Rs 2.2 trillion in FY2026, up from Rs 2.1 trillion in FY2025, driven by higher average cost of supply and new subsidy schemes in certain states. It added that apart from the large subsidy dependence, discoms receive loss funding support from the state governments putting fiscal pressure on the state finances.

The CNX Nifty is currently trading at 25323.50, up by 84.40 points or 0.33% after trading in a range of 25275.35 and 25342.15. There were 34 stocks advancing against 16 stocks declining on the index.

The top gainers on Nifty were Tata Consumer up by 2.88%, Bharat Electronics up by 2.11%, Hero MotoCorp up by 1.20%, SBI up by 1.13% and Kotak Mahindra Bank up by 1.10%. On the flip side, Titan down by 0.85%, Power Grid down by 0.55%, Hindalco down by 0.52%, HDFC Life Insurance down by 0.48% and Tata Steel down by 0.48% were the top losers.

Asian markets were trading mixed; Nikkei 225 slipped 84.27 points or 0.19% to 44,818.00, Taiwan Weighted lost 197.53 points or 0.78% to 25,432.11, KOSPI dropped 37.82 points or 1.1% to 3,411.80 and Straits Times fell 14.71 points or 0.34% to 4,323.03. However, Jakarta Composite gained 22.53 points or 0.28% to 7,980.23, Shanghai Composite strengthened 14.29 points or 0.37% to 3,876.16 and Hang Seng advanced 470.49 points or 1.78% to 26,909.00.
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