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Bourses continue to reel under pressure in early afternoon session
Mar-12-2025

Indian equity markets continued to reel under selling pressure in early afternoon session amid ongoing U.S trade tensions. Traders took note of report that Reserve Bank of India (RBI) has said that with the normalisation of post-pandemic pent-up demand conditions, the growth in net sales of select FDI companies moderated to 9.3 per cent during 2023-24 from the high of 20.3 per cent in the previous year. The paid-up capital (PUC) of these companies amounted to Rs 5,30,160 crore, which accounted for 51.1 per cent of the total PUC of FDI companies that had reported in the 2023-24 round of the RBI's annual census of foreign liabilities and assets of Indian direct investment companies.

On the global front, Asian markets are trading mostly in green. Traders now awaited key U.S. reports on consumer and producer price inflation, as well as readings on consumer sentiment and inflation expectations later in the week for further direction.

The BSE Sensex is currently trading at 73677.81, down by 424.51 points or 0.57% after trading in a range of 73598.16 and 74392.15. There were 10 stocks advancing against 20 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 1.72%, while Small cap index was down by 0.98%.

The only gaining sectoral indices on the BSE was FMCG up by 0.16% and Bankex up by 0.13%, while IT down by 4.06%, TECK down by 3.52%, Realty down by 2.43%, Telecom down by 2.40% and Metal was down by 1.65% were the top losing indices on BSE.

The top gainers on the Sensex were Indusind Bank up by 4.01%, Kotak Mahindra Bank up by 2.59%, Tata Motors up by 2.03%, HDFC Bank up by 1.49% and ITC up by 0.86%. On the flip side, Infosys down by 5.75%, Tech Mahindra down by 4.54%, HCL Tech down by 3.13%, Adani Ports down by 2.61% and Zomato down by 2.50% were the top losers.

Meanwhile, ministry of finance in its latest report has showed that the overall credit disbursement to priority sectors including Agriculture, MSME and Social Infrastructure by banks surged 85.66% to Rs 42,73,161 crore in 2024 as compared to Rs 23,01,567 crore in 2019.

According to the data report, the total disbursement to the agriculture sector increased 106.10% from Rs 8,86,791 crore to Rs 18,27,666 crore in 2024. This also includes credit disbursement towards agriculture infrastructure by banks. The overall credit disbursement to the MSME sector has also increased 97.78% from Rs 10,99,055 crore in 2019 to Rs 21,73,679 crore in 2024.

The report further noted that to enhance quality of banking services for customers, banks have been collaborating with FinTechs for provisioning of various services to the customers, while various measures have been taken by the government and RBI to improve financial soundness of banks and to address the issues related to credit discipline, responsible lending and improved governance, adoption of technology, recovery and reduction of NPAs.

The CNX Nifty is currently trading at 22355.85, down by 142.05 points or 0.63% after trading in a range of 22329.55 and 22577.40. There were 14 stocks advancing against 36 stocks declining on the index.

The top gainers on Nifty were Indusind Bank up by 4.02%, Kotak Mahindra Bank up by 2.58%, Tata Motors up by 1.87%, HDFC Bank up by 1.49% and Sun Pharma up by 0.80%. On the flip side, Infosys down by 5.81%, Wipro down by 5.35%, Tech Mahindra down by 4.29%, HCL Tech down by 3.17% and Adani Enterprises down by 2.49% were the top losers.

Asian markets are trading mostly in green; Taiwan Weighted added 207.27 points or 0.93% to 22,278.36, Jakarta Composite gained 105.32 points or 1.61% to 6,651.17, KOSPI increased 37.22 points or 1.45% to 2,574.82, Nikkei 225 surged 25.98 points or 0.07% to 36,819.09 and Straits Times was up by 13.82 points or 0.36% to 3,839.65. On the flip side, Shanghai Composite weakened 3.07 points or 0.09% to 3,376.76 and Hang Seng was down by 167.44 points or 0.7% to 23,614.70.
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