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Bourses trade flat in late afternoon session
Jan-30-2025

Indian equity markets trimmed most of their gains and traded flat in late afternoon session on profit booking. Traders avoided to take position amid monthly F&O expiry. Sentiments turned negative as S&P Global Market Intelligence in its latest report has said that Indian banks are facing margin pressure as loan growth slows amid high interest rates. It highlighted that the aggregate loan growth of six of India's largest banks--both private and state-owned--is expected to decline to 12.3 per cent in the fiscal year ending March 31, 2025. This is a sharp slowdown from the 22.5 per cent growth recorded in the previous fiscal year. On the global front, Asian markets were trading mixed as investors digested broadly positive tech earnings from the U.S. and awaited clarity on U.S. President Trump's tariff policies, especially on Canada, Mexico and China. European markets were trading higher ahead of an expected interest-rate cut by the European Central Bank (ECB) later in the day.

The BSE Sensex is currently trading at 76513.71, down by 19.25 points or 0.03% after trading in a range of 76426.83 and 76898.63. There were 16 stocks advancing against 15 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.23%, while Small cap index down by 0.11%.

The top gaining sectoral indices on the BSE were Oil & Gas up by 1.52%, Realty up by 1.35%, Energy up by 1.34%, PSU up by 1.07% and Telecom was up by 0.77%, while Consumer Durables down by 2.07%, IT down by 1.28%, TECK down by 0.73%, Consumer Disc down by 0.58% and Auto was down by 0.49% were the top losing indices on BSE.

The top gainers on the Sensex were Power Grid up by 2.15%, Indusind Bank up by 1.74%, Bajaj Finance up by 1.70%, Bharti Airtel up by 1.61% and Asian Paints up by 0.97%. On the flip side, Tata Motors down by 7.17%, ITC Hotels down by 4.98%, Adani Ports down by 4.20%, Bajaj Finserv down by 2.51% and Zomato down by 2.43% were the top losers.

Meanwhile, in line with India's commitment to securing critical mineral supplies, the Union Cabinet has approved the launch of the National Critical Mineral Mission (NCMM) with an expenditure of Rs 16,300 crore and expected investment of Rs 18,000 crore by PSUs, etc.

The National Critical Mineral Mission, approved by the Union Cabinet, will encompass all stages of the value chain, including mineral exploration, mining, beneficiation, processing, and recovery from end-of-life products. The mission will intensify the exploration of critical minerals within the country and in its offshore areas. It aims to create a fast track regulatory approval process for critical mineral mining projects. Additionally, the mission will offer financial incentives for critical mineral exploration and promote the recovery of these minerals from overburden and tailings.

The mission aims to encourage Indian PSUs and private sector companies to acquire critical mineral assets abroad and enhance trade with resource-rich countries. It also proposes development of stockpile of critical minerals within the country. The mission includes provisions for setting up of mineral processing parks and supporting the recycling of critical minerals. It will also promote research in critical mineral technologies and proposes setting up Centre of Excellence on Critical Minerals.

The CNX Nifty is currently trading at 23178.50, up by 15.40 points or 0.07% after trading in a range of 23139.20 and 23311.15. There were 31 stocks advancing against 19 stocks declining on the index, while 1 stock remained unchanged. 

The top gainers on Nifty were Bharat Electronics up by 3.39%, Power Grid up by 2.14%, Hero MotoCorp up by 2.05%, Cipla up by 1.97% and Bajaj Finance up by 1.81%. On the flip side, Tata Motors down by 7.13%, Adani Ports down by 4.06%, Adani Enterprises down by 3.69%, Shriram Finance down by 2.54% and Bajaj Finserv down by 2.53% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 99.19 points or 0.25% to 39,513.97, while Jakarta Composite plunged 78.25 points or 1.1% to 7,087.81.

European markets were trading higher; UK’s FTSE 100 increased 13.76 points or 0.16% to 8,571.57, France’s CAC rose 31.06 points or 0.39% to 7,903.54 and Germany’s DAX was up by 59.9 points or 0.28% to 21,697.43.
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