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Key gauges continue to trade lower in morning deals
Jun-17-2025

Indian equity benchmarks continued to trade lower in morning deals, as investors remained cautious in view of the ongoing conflict between Israel and Iran. Investors also preferred staying on the sidelines ahead of the US Fed interest rate decision later this week. Some concern also came as exchange data showed foreign institutional investors (FIIs) offloaded equities worth Rs 2,539.42 crore on a net basis on Monday. Adding to the pessimism, the commerce ministry in its latest data has showed that India's merchandise exports declined 2.17 per cent to $38.73 billion in May 2025 as compared to $39.59 billion in same month last year, with sectors including petroleum products, gems & jewellery and engineering posting a decline. However, losses remain capped as traders took some support with Commerce Secretary Sunil Barthwal’s statement that negotiations for the proposed India-US trade agreement are in good progress and the two sides are expected to agree on an early tranche of the pact before July 9. On the global front, Asian markets are trading mixed as tensions in the Middle East continued between Israel and Iran. 

The BSE Sensex is currently trading at 81572.24, down by 223.91 points or 0.27% after trading in a range of 81471.89 and 81890.15. There were 11 stocks advancing against 19 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.27%, while Small cap index was up by 0.44%.

The top gaining sectoral indices on the BSE were Realty up by 0.71%, Industrials up by 0.49%, Telecom up by 0.47%, PSU up by 0.42% and Power up by 0.34%, while Healthcare down by 0.68%, Auto down by 0.29%, Oil & Gas down by 0.24%, Energy down by 0.23% and Metal down by 0.21% were the top losing indices on BSE.

The top gainers on the Sensex were Asian Paints up by 1.24%, Bharat Electronics up by 0.87%, Axis Bank up by 0.76%, NTPC up by 0.67% and Adani Ports &SEZ up by 0.58%. On the flip side, Sun Pharma down by 1.90%, Bajaj Finance down by 1.24%, Eternal down by 1.17%, Tata Motors down by 0.94% and Titan Company down by 0.76% were the top losers.

Meanwhile, Commerce Secretary Sunil Barthwal has said that India is hopeful of a positive outcome from its engagement with China to address issues related to Beijing's export curbs on rare earth magnets, which are mainly used in the auto sector. China's restrictions on the export of rare earth elements and related magnets are affecting the domestic auto and white goods sectors. The automobile industry has sought government support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars. 

Barthwal said that these curbs are against all the countries and are not against India only. Since it is impacting the auto sector more, the government is in talks with both the Society of Indian Automobile Manufacturers (SIAM) and the Automotive Component Manufacturers Association of India (ACMA). He stated ‘We are facilitating them to have discussions with their counterparts in China and at the diplomatic level the external affairs ministry and the department of commerce also have spoken to the Ambassador over there.’ He said that both diplomatic and commercial discussions are going on with China on the issue.

Moreover, he stated ‘We are making all the efforts to see that these essential items of imports can come to India...what I feel that this diplomatic and commercial communication should yield a positive result. He added ‘China has brought a regime where 'perhaps licences will be required, so we are facilitating our importers and our auto players in whatever way possible.’ China controls over 90 per cent of the global processing capacity for magnets, used across multiple sectors including automobiles, home appliances and clean energy. The Chinese government has put restrictions, with effect from April 4, mandating special export licences for seven rare earth elements and related magnets. Critical materials include samarium, gadolinium, terbium, dysprosium and lutetium, which are essential in electric motors, braking systems, smartphones and missile technology.

The CNX Nifty is currently trading at 24877.65, down by 68.85 points or 0.28% after trading in a range of 24846.45 and 24982.05. There were 17 stocks advancing against 33 stocks declining on the index.

The top gainers on Nifty were Asian Paints up by 1.26%, Bharat Electronics up by 0.83%, Axis Bank up by 0.82%, NTPC up by 0.66% and Adani Ports &SEZ up by 0.51%. On the flip side, Sun Pharma down by 1.83%, ONGC down by 1.55%, Bajaj Finance down by 1.28%, Eternal down by 1.25% and Indusind Bank down by 1.10% were the top losers.

Asian markets are trading mixed; Nikkei 225 surged 223.02 points or 0.58% to 38,534.35, Taiwan Weighted added 89.6 points or 0.41% to 22,139.50, Straits Times rose 11.08 points or 0.28% to 3,919.54 and Jakarta Composite gained 53.82 points or 0.76% to 7,171.41.

On the flip side, Shanghai Composite weakened 6.59 points or 0.19% to 3,382.14, Hang Seng declined 32.16 points or 0.13% to 24,028.83 and KOSPI dropped 4.41 points or 0.15% to 2,942.25.
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