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Sensex, Nifty trade firm in early deals after cautious start
Mar-05-2025

Indian equity benchmarks made a cautious start on Wednesday following weakness on Wall Street overnight and firm trade in Asian counterparts after U.S. Commerce Secretary Howard Lutnick suggested that the Trump administration may reach a tariffs compromise with Mexico and Canada. A potential deal is expected to involve reducing, at least partially, the new 25 percent tariffs on imports from both countries. Sensex and Nifty soon gained traction and were trading higher with gains of over 0.70% each in early deals, on account of value buying. Some optimism came as Finance Minister Nirmala Sitharaman said that the government remains steadfast in reducing regulatory burdens, besides enhancing trust-based governance and taking steps to make India a seamless, export-friendly economy. Investors are looking ahead to the Services PMI data to be out later in the day.

On the global front, all Asian markets are trading higher as traders reacted to the actions taken by China to counter the effects of deflation and a slew of upbeat GDP and PMI data from the region.  A private survey showed China's services sector grew more than expected in February, driven by a faster rebound in demand. Back home, the NSE said it would shift the expiry day for Nifty derivative contracts from Thursday to Monday, starting April 4.

The BSE Sensex is currently trading at 73509.61, up by 519.68 points or 0.71% after trading in a range of 72894.05 and 73575.83. There were 25 stocks advancing against 5 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 1.84%, while Small cap index was up by 1.86%.

The top gaining sectoral indices on the BSE were Realty up by 2.23%, IT up by 2.13%, Utilities up by 2.10%, Power up by 2.00% and Telecom up by 1.99%, while there was no loser on the BSE sectoral front.

The top gainers on the Sensex were Tata Steel up by 2.62%, Mahindra & Mahindra up by 2.52%, NTPC up by 2.10%, Adani Ports & SEZ up by 2.06% and HCL Technologies up by 2.05%. On the flip side, Bajaj Finance down by 3.11%, Bajaj Finserv down by 1.47%, HDFC Bank down by 0.30%, Ultratech Cement down by 0.29% and Nestle down by 0.02% were the top losers.

Meanwhile, Finance Minister Nirmala Sitharaman has said the government remains steadfast in reducing regulatory burdens, besides enhancing trust-based governance and taking steps to make India a ‘seamless, export-friendly’ economy. She added a robust manufacturing sector free from unnecessary regulatory bottlenecks will further attract both domestic and foreign investments, driving economic growth, positioning India as a trusted global player.

Sitharaman said decriminalisation of business related laws reduces the legal risks, allowing industries to operate with greater confidence. Over 42,000 compliance requirements have already been removed, and over 3,700 legal provisions have been decriminalised since 2014. In the Jan Vishwas Act 2023, more than 180 legal provisions were decriminalised.

She said ‘Our government will now bring up the Jan Vishwas Bill 2.0 to decriminalise more than 100 provisions in various laws. It will further simplify processes for businesses’. She said the government's ‘unprecedented’ push for infrastructure development helps create jobs, strengthen industries, and also lays the foundation for greater private sector participation in India's growth story.

She also said ‘The pathway for reforms are complemented by the government's unwavering focus on capital expenditure as a driver of economic growth’. For the next fiscal, the government has proposed effective capex at Rs 15.48 lakh crore, which is 4.3 per cent of the GDP. Of this, Rs 11.21 lakh crore is allocated as core capital expenditure by the Centre, which is 3.1 per cent of the GDP.

The CNX Nifty is currently trading at 22251.00, up by 168.35 points or 0.76% after trading in a range of 22067.80 and 22263.80. There were 43 stocks advancing against 7 stocks declining on the index.

The top gainers on Nifty were Tata Steel up by 2.73%, Mahindra & Mahindra up by 2.39%, Eicher Motors up by 2.34%, Adani Enterprises up by 2.24% and Trent up by 2.23%. On the flip side, Bajaj Finance down by 2.86%, Bajaj Finserv down by 1.27%, Shriram Finance down by 0.77%, Apollo Hospital down by 0.24% and HDFC Bank down by 0.21% were the top losers.

All Asian markets are trading higher; Hang Seng jumped 374.2 points or 1.6% to 23,315.97, Taiwan Weighted surged 322.24 points or 1.41% to 22,919.12, Nikkei 225 advanced 227.47 points or 0.61% to 37,558.65, Jakarta Composite gained 160.3 points or 2.45% to 6,540.70, KOSPI rose 24.91 points or 0.98% to 2,553.83, Straits Times increased 13.22 points or 0.34% to 3,903.98 and Shanghai Composite was up by 10.69 points or 0.32% to 3,334.90.
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