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Key indices extend losses in morning deals
Nov-18-2025

Indian equity benchmarks extended losses in morning deals, due to emergence of profit-taking in-tandem with a weak trend in global equity markets. Traders remained cautious with the commerce ministry’s data showing that India’s merchandise exports contracted 11.8 per cent to $34.38 billion in October 2025 as compared to $38.98 billion in October 2024, on account of the impact of high tariffs by the US. The country's imports jumped 16.63 per cent to an all-time high of $76.06 billion in October 2025 as compared to $65.21 billion in October 2024, due to high inbound shipments of the yellow metal, silver, cotton raw/waste, fertiliser, and sulphur. Traders overlooked exchange data showed Foreign Institutional Investors (FIIs) turned net buyers on November 17 and bought equities of Rs 442.17 crore. Separately, the investigation arm of the Commerce Ministry, Directorate General of Trade Remedies (DGTR) has recommended imposition of provisional antidumping duty (ADD) on low ash metallurgical coke from six countries - Australia, China, Colombia, Indonesia, Japan and Russia. On the global front, Asian markets are trading lower as investors moved away from riskier assets ahead of Nvidia Corp.’s earnings and a key US jobs report later this week. 

The BSE Sensex is currently trading at 84608.23, down by 342.72 points or 0.40% after trading in a range of 84564.01 and 85042.41. There were 4 stocks advancing against 26 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.78%, while Small cap index was down by 0.80%.

The top losing sectoral indices on the BSE were Realty down by 1.63%, Metal down by 1.45%, Basic Materials down by 1.02%, IT down by 0.94% and Industrials down by 0.89%, while there were no gaining sectoral indices on the BSE. 

The top gainers on the Sensex were Axis Bank up by 0.66%, Bharti Airtel up by 0.60%, Bharat Electronics up by 0.59% and Asian Paints up by 0.26%. On the flip side, Tech Mahindra down by 1.26%, Infosys down by 1.22%, Tata Steel down by 1.04%, Bajaj Finserv down by 1.02% and Mahindra & Mahindra down by 0.93% were the top losers.

Meanwhile, the commerce ministry has said that India is expected to gain from the US decision to roll back reciprocal tariffs on certain agricultural products such as tea, coffee and spices. A White House Executive Order issued on November 12 excludes coffee, tea, tropical fruits, fruit juices, cocoa, spices, bananas, oranges, tomatoes, beef and certain fertilisers from the April 2 reciprocal tariff regime. The exemptions took effect on November 13.

The Commerce Ministry said that while this applies to all trading partners, it creates a level playing field for Indian exporters. India exports these goods worth over $1 billion annually. These products included fruits and nuts, processed foods, spices, tea and coffee, essential oils, and vegetable and edible roots.

However, think tank GTRI has said that India will have a small gain from the US move. GTRI Founder Ajay Srivastava said ‘India has almost no presence in several of the largest exempted lines - tomatoes, citrus fruits, melons, bananas, most fresh fruits, and fruit juices. He said that the shift in US tariff policy could marginally strengthen India's competitive position in spices and niche horticulture, but the broader gains will accrue mainly to major Latin American, African, and ASEAN farm exporters unless India expands scale, builds cold-chain capacity, and diversifies its agricultural export basket.

The CNX Nifty is currently trading at 25884.00, down by 129.45 points or 0.50% after trading in a range of 25881.90 and 26029.85. There were 7 stocks advancing against 43 stocks declining on the index.

The top gainers on Nifty were Axis Bank up by 0.70%, Bharti Airtel up by 0.68%, Shriram Finance up by 0.50%, Bharat Electronics up by 0.48% and Asian Paints up by 0.15%. On the flip side, Hindalco down by 1.78%, JSW Steel down by 1.55%, Interglobe Aviation down by 1.44%, Bajaj Finance down by 1.35% and Tech Mahindra down by 1.22% were the top losers. 

All Asian markets are trading lower; Nikkei 225 slipped 1458.91 points or 2.9% to 48,865.00, Taiwan Weighted lost 624.42 points or 2.27% to 26,822.89, Jakarta Composite plunged 38.59 points or 0.46% to 8,378.29, Shanghai Composite weakened 27.47 points or 0.69% to 3,944.56, KOSPI dropped 131.14 points or 3.21% to 3,958.11, Hang Seng declined 415.28 points or 1.57% to 25,969.00 and Straits Times fell 19.54 points or 0.43% to 4,524.05.
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