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Indices trade slightly in red in late morning deals
Oct-03-2025

Domestic equity indices were trading slightly in red in late morning deals on account of selling in Sun Pharma, Bajaj Finserv, Trent, Ultratech Cement and Maruti Suzuki companies’ stocks. However, losses remained capped as the government data has showed that total Gross Goods and Services Tax (GST) collections jumped 9.1% to Rs 1,89,017 crore in the month of September 2025 as compared to Rs 1,73,240 crore in the same month a year ago. Besides, there was some encouragement in the markets as Finance Minister Nirmala Sitharaman said private sector investment is beginning to see opportunities in India, with interest especially reviving in public-private partnership (PPP) projects. She said public expenditure has increased significantly in the last five years, and the government remains committed to continuing with capex.

On the global front, Asian markets were trading mostly higher following positive cues from the US markets overnight. Back home, on the BSE sectoral front, traders were seen piling up positions in Metal, Basic Materials, Industrials, Capital Goods and Bankex, while selling was witnessed in Energy, Oil & Gas, Realty, Healthcare and Auto.

The BSE Sensex is currently trading at 80975.12, down by 8.19 points or 0.01% after trading in a range of 80649.57 and 81018.61. There were 12 stocks advancing against 18 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.28%, while Small cap index up by 0.54%.

The top gaining sectoral indices on the BSE were Metal up by 1.84%, Basic Materials up by 0.96%, Industrials up by 0.47%, Capital Goods up by 0.39% and Bankex up by 0.38%, while Energy down by 0.25%, Oil & Gas down by 0.24%, Realty down by 0.22%, Healthcare down by 0.21% and Auto down by 0.18% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 3.43%, Kotak Mahindra Bank up by 1.59%, Power Grid up by 1.25%, Axis Bank up by 1.15% and Bharat Electronics up by 0.84%. On the flip side, Sun Pharma down by 1.47%, Bajaj Finserv down by 1.17%, Trent down by 1.04%, Ultratech Cement down by 0.97% and Maruti Suzuki down by 0.74% were the top losers.

Meanwhile, S&P Global Ratings in its new report has indicated that India is poised to become the next major player in the global petrochemicals industry, backed by a planned capital expenditure of $37 billion aimed at boosting self-sufficiency. It expects the shift toward self-sufficiency to support the country to meet domestic demand which is historically relied on imports. Further, India will stick with major investment plans to reduce import dependency on chemicals used in everyday goods, from plastic bags to auto parts.

It has warned that India's aggressive capacity expansion - following similar moves by China - will intensify oversupply pressures in Asia's petrochemical sector. It said that the shift could hurt regional exporters, as over 50% of India and China's chemical imports currently originate in Asia. It noted that options for Asian exporters are limited after US exports has been constrained owed to tariffs.

Despite overcapacity, it highlighted that India's robust domestic demand - especially for key products like polyethylene - is expected to support local producers' earnings, even as global players face pricing pressure and potential consolidation. It also expects India to overtake the US as the world's second-largest consumer of polyethylene.

The CNX Nifty is currently trading at 24811.45, down by 24.85 points or 0.10% after trading in a range of 24747.55 and 24855.70. There were 20 stocks advancing against 30 stocks declining on the index.

The top gainers on Nifty were Tata Steel up by 3.40%, Hindalco up by 1.89%, Kotak Mahindra Bank up by 1.51%, Power Grid up by 1.32% and Axis Bank up by 1.21%. On the flip side, Max Healthcare down by 3.57%, Coal India down by 1.60%, SBI Life down by 1.42%, Sun Pharma down by 1.36% and Eicher Motors down by 1.27% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 813.27 points or 1.81% to 45,750.00, Taiwan Weighted added 382.67 points or 1.43% to 26,761.06, Jakarta Composite gained 21.02 points or 0.26% to 8,092.10 and Straits Times rose 12.11 points or 0.28% to 4,407.32. However, Hang Seng declined 282.12 points or 1.03% to 27,005.00.
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