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Key gauges continue to trade higher in morning deals
Mar-05-2025

Indian equity benchmarks continued to trade higher in morning deals, led by gains in Utilities, Power and IT stocks. Traders took support with Finance Minister Nirmala Sitharaman’s statement 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. Traders overlooked Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi’s statement that non-tariff measures being announced by developed economies such as European Union's carbon tax and deforestation regulation limit market access for Indian goods in those markets. Sector-wise, stocks related to cement sector remained in watch as report by rating agency Ind-Ra said cement prices declined around 7 per cent year-on-year in April-January FY25, amid weak demand, and increasing competition due to large supply additions by leading companies. On the global front, Asian markets are trading higher after US Commerce Secretary Howard Lutnick suggested the Trump administration may walk back some tariffs that sparked a global selloff in markets. 

The BSE Sensex is currently trading at 73433.09, up by 443.16 points or 0.61% after trading in a range of 72894.05 and 73575.83. There were 23 stocks advancing against 7 stocks declining on the index.

The broader indices ended in green; the BSE Mid cap index rose 1.48%, while Small cap index was up by 1.52%.

The top gaining sectoral indices on the BSE were Utilities up by 2.24%, Power up by 2.04%, IT up by 1.91%, Realty up by 1.82% and Telecom up by 1.78%, while there were no losing sectoral indices on the BSE. 

The top gainers on the Sensex were Mahindra & Mahindra up by 3.29%, Tata Steel up by 2.69%, NTPC up by 2.61%, Adani Ports &SEZ up by 2.52% and Power Grid Corporation up by 2.34%. On the flip side, Bajaj Finance down by 2.60%, Bajaj Finserv down by 0.77%, Indusind Bank down by 0.58%, Ultratech Cement down by 0.58% and Zomato down by 0.55% were the top losers.

Meanwhile, US-India Business Council (USIBC) has said that Non-tariff barriers and ‘red tape’ that slow market access should be dismantled with haste to boost India-US trade ties, as the two sides are holding initial negotiations for a trade deal. Commerce Minister Piyush Goyal is in Washington to hold the talks with his American counterpart Howard Lutnick and US Trade Representative Jamieson Greer. India and the US agreed to begin negotiations for a trade deal following talks between Prime Minister Narendra Modi and US President Donald Trump in Washington DC.

USIBC President Ambassador Atul Keshap has urged both sides to leverage the trade relationship for shared growth. He said that the meaningful trade facilitation through a sweeping bilateral trade deal is long overdue, and would be instrumental in boosting the GDPs of both America and India and bind two mighty economies closer together. It is expected that a major focus of the trade negotiations will be on tariff as stoked global concerns. 

While talking about India-US business relationship and trade, he said that the US and Indian businesses have invested in each other's countries for years even without a formal investment or trade framework. He added that India represents only 2.5 percent of America's trade volumes, and that number can and should increase substantially. Keshap has emphasized that both sides should be working with focus to formalize a level playing field, full and open market access, swift dispute arbitration, and predictable tax and regulatory policies to boost investment, growth, and job creation in both countries.

The CNX Nifty is currently trading at 22236.60, up by 153.95 points or 0.70% after trading in a range of 22067.80 and 22265.15. There were 41 stocks advancing against 9 stocks declining on the index.

The top gainers on Nifty were Mahindra & Mahindra up by 3.38%, Trent up by 3.03%, Adani Ports &SEZ up by 2.84%, Eicher Motors up by 2.76% and NTPC up by 2.71%. On the flip side, Bajaj Finance down by 2.54%, Shriram Finance down by 0.81%, Bajaj Finserv down by 0.74%, Indusind Bank down by 0.55% and Ultratech Cement down by 0.52% were the top losers. 

All Asian markets are trading higher; Nikkei 225 surged 127.58 points or 0.34% to 37,458.76, Taiwan Weighted added 292.56 points or 1.28% to 22,889.44, Hang Seng advanced 378.59 points or 1.62% to 23,320.36, KOSPI increased 27.41 points or 1.07% to 2,556.33, Straits Times rose 12.39 points or 0.32% to 3,903.15, Jakarta Composite gained 156.99 points or 2.4% to 6,537.39 and Shanghai Composite strengthened 10.69 points or 0.32% to 3,334.90. 
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