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Domestic indices remain in red in late morning deals
Jul-02-2025

Domestic equity indices remained in red and were trading lower with cut of around 0.20 percent in late morning deals. Selling in Bajaj Finserv, Eternal, Bajaj Finance, HDFC Bank and Larsen & Toubro companies’ stocks dragged the markets to trade below the neutral lines. Meanwhile, broader indices were also trading in red with BSE Mid cap index and Small cap index falling in the range of 0.15-0.30 percent. Traders were cautious after U.S. President Donald Trump said he is not considering delaying his July 9 deadline for higher tariffs to resume. Traders overlooked report that India’s gross Goods and Services Tax (GST) collection for the month of June stood at Rs 1.85 lakh crore, marking a 6.2% increase compared to the same month last year. In the stock specific development, Ceigall India rose after its subsidiary, Ceigall Northern Ayodhya Bypass, has secured a contract worth Rs 1,199.30 crore from National Highways Authority of India.

On the global front, Asian markets were trading mostly in red as investors assessed Fed’s latest comment. Powell said that the central bank would have already cut interest rates if it weren’t for U.S. President Donald Trump’s tariff initiatives. Back home, on the BSE sectoral front, traders were seen pilling up position Metal, Telecom, TECK, Basic Materials and Consumer Durables, while selling was witnessed in Industrials, Realty, Capital Goods, Bankex and FMCG.

The BSE Sensex is currently trading at 83550.63, down by 146.66 points or 0.18% after trading in a range of 83471.57 and 83935.01. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.16%, while Small cap index down by 0.30%.

The top gaining sectoral indices on the BSE were Metal up by 0.93%, Telecom up by 0.51%, TECK up by 0.49%, Basic Materials up by 0.49% and Consumer Durables up by 0.29%, while Industrials down by 0.55%, Realty down by 0.45%, Capital Goods down by 0.44%, Bankex down by 0.32% and FMCG down by 0.27% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 1.69%, Ultratech Cement up by 1.08%, Bharti Airtel up by 1.05%, NTPC up by 0.80% and Maruti Suzuki up by 0.77%. On the flip side, Bajaj Finserv down by 1.61%, Eternal down by 1.17%, Bajaj Finance down by 1.06%, HDFC Bank down by 0.89% and Larsen & Toubro down by 0.89% were the top losers.

Meanwhile, India’s gross Goods and Services Tax (GST) collections for the month of June stood at over Rs 1.84 lakh crore recording a 6.2 per cent growth over same period last year when the gross GST collections stood at Rs 1,73,813 crore. Though the gross GST collections rose in the month of June, it slipped below the Rs 2 lakh crore mark recorded in the previous two months. In the month of May, GST collection was Rs 2.01 lakh crore, while it touched a record high of Rs 2.37 lakh crore in April this year.

In June, gross revenues from domestic transactions grew 4.6 per cent to about Rs 1.38 lakh crore, while GST revenue from imports surged 11.4 per cent to Rs 45,690 crore. In the same period, the gross Central GST revenues stood at Rs 34,558 crore, State GST revenues at Rs 43,268 crore and Integrated GST at about Rs 93,280 lakh crore in June. 

Besides, the revenue from Cess were recorded at Rs 13,491 crore. The total refunds during the month of June surged 28.4 per cent to Rs 25,491 crore. Further, the net GST mop-up stood at about Rs 1.59 lakh crore, registering a 3.3 per cent year-on-year growth.

The CNX Nifty is currently trading at 25493.90, down by 47.90 points or 0.19% after trading in a range of 25463.40 and 25608.10. There were 22 stocks advancing against 28 stocks declining on the index.

The top gainers on Nifty were JSW Steel up by 1.67%, Tata Steel up by 1.42%, Ultratech Cement up by 1.21%, Bharti Airtel up by 1.04% and NTPC up by 0.77%. On the flip side, Indusind Bank down by 2.20%, Shriram Finance down by 1.90%, Bajaj Finserv down by 1.55%, HDFC Life Insurance down by 1.51% and Eternal down by 1.23% were the top losers.

Asian markets were trading mostly in red; Jakarta Composite plunged 62.65 points or 0.91% to 6,852.71, Shanghai Composite weakened 2.31 points or 0.07% to 3,455.44, KOSPI dropped 24.18 points or 0.78% to 3,065.47, Nikkei 225 slipped 191.58 points or 0.48% to 39,794.75 and Taiwan Weighted lost 67.48 points or 0.3% to 22,486.24. However, Hang Seng advanced 116.14 points or 0.48% to 24,188.42, Straits Times rose 20.26 points or 0.51% to 4,010.02.
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