HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Selling continues to hit Indian markets in late morning deals
Feb-17-2025

A selling continued to hit Indian equity markets in late morning session, with both Sensex and Nifty trading lower, amid continued uncertainty about the Trump administration's trade and economic policies. Although tariff fears subsided a bit last week after the U.S. President decided to hold off hikes till April, there is still uncertainty about his administrations plans with regard to fresh levies. 

However, downside remained capped, after Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Jitendra Singh has hailed the Union Budget 2025-26 as a reflection of Prime Minister Narendra Modi’s forward-looking vision for India.

On the global front, Asian markets were trading mostly in green, despite the mixed cues from Wall Street on Friday. Investors assessed the global economic outlook while Donald Trump pushes ahead with his trade war.

The BSE Sensex is currently trading at 75712.18, down by 227.03 points or 0.30% after trading in a range of 75294.76 and 75895.26. There were 12 stocks advancing against 18 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell by 0.76%, while Small cap index was down by 1.71%.

The only gaining sectoral indices on the BSE were Healthcare up by 0.41% and Energy up by 0.02%, Industrials down by 1.51%, Realty down by 1.41%, Telecom down by 1.29%, Capital Goods down by 1.25% and Auto down by 1.10% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finserv up by 2.20%, Sun Pharma up by 1.22%, Power Grid up by 1.20%, Indusind Bank up by 1.19% and Ultratech Cement up by 0.45%. On the flip side, Mahindra & Mahindra down by 3.90%, ICICI Bank down by 1.69%, Axis Bank down by 1.51%, Bharti Airtel down by 1.36% and Infosys down by 1.09% were the top losers.

Meanwhile, the Institute of Chartered Accountants of India (ICAI) has said that the new Income Tax Bill will simplify the country's six-decade old tax structure as well as help boost growth of MSMEs. The ICAI, a key stakeholder in tax matters, is also setting up a five-member group to closely examine various provisions of the bill.

ICAI said introduced in Lok Sabha on February 13, 2025, the bill seeks to achieve tax certainty by minimising the scope of litigation and fresh interpretation. It said with an intent to simplify the six-decade old tax framework, the main objective was to streamline the provisions, removing obsolete references and creating a simpler legal framework. It said the objectives have been sought to be achieved by replacing the concept/terminology of previous year and assessment year with 'tax year' and 'financial year succeeding the tax year', doing away with the provisos and explanations, among others. 

It further said the provisions relating to charitable trusts spread across different Chapters of the Income Tax Act, 1961 are being simplified and consolidated in a single chapter. All the TDS provisions are now contained in one section and presented in the form of a table. All presumptive income provisions for residents have been grouped and presented in a single clause. Also, all presumptive income provisions for non-residents have been grouped and presented in a single clause.  

The CNX Nifty is currently trading at 22856.25, down by 73.00 points or 0.32% after trading in a range of 22725.45 and 22926.65. There were 20 stocks advancing against 30 stocks declining on the index.

The top gainers on Nifty were Bajaj Finserv up by 2.38%, Sun Pharma up by 1.64%, Indusind Bank up by 1.22%, Cipla up by 1.11% and Power Grid up by 0.95%. On the flip side, Mahindra & Mahindra down by 4.12%, ICICI Bank down by 1.88%, Wipro down by 1.67%, Axis Bank down by 1.62% and Bharat Electronics down by 1.60% were the top losers.

Asian markets were trading mostly in green; Straits Times rose 18.19 points or 0.47% to 3,895.69, Jakarta Composite gained 140.67 points or 2.08% to 6,779.13,  KOSPI increased 16.05 points or 0.62% to 2,607.10 and Taiwan Weighted added 352.72 points or 1.5% to 23,505.33, while Hang Seng declined 163.29 points or 0.72% to 22,457.04, Shanghai Composite weakened 7.2 points or 0.22% to 3,339.52 and Nikkei 225 slipped 5.43 points or 0.01% to 39,144.00.
  RELATED NEWS >>
Most Viewed >>
March 07 , 2025
India’s oldest index fund completes 25 years
March 04 , 2025
Tata Capital eyes $11 billion valuation for In
March 07 , 2025
AIF commitments top Rs 13 trillion as HNIs pre
March 07 , 2025
The Wealth Company eyes Rs.10,000 cr fundraisi
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.