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Key gauges remain in red in morning deals
Jul-10-2025

Indian equity benchmarks remained in red in morning deals, as investors stayed on the sidelines ahead of the start of earnings season, with IT major TCS scheduled to announce its Q1 numbers later in the day. Tariff related uncertainty also led to caution in the market. However, losses remain capped as some support came with Commerce and Industry Minister Piyush Goyal’s statement that free trade agreements (FTAs) with developed markets such as Australia, UAE and UK will provide greater market access for the domestic agri sector. He added that despite the global slowdown, India's agriculture, animal husbandry and fishery exports now reached at Rs 4 lakh crore. On the global front, Asian markets are trading mostly in green even as U.S. President Donald Trump escalated his tariff campaign, sending letters targeting six additional countries -- Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines with fresh import duties ranging from 20-30 percent.

The BSE Sensex is currently trading at 83375.63, down by 160.45 points or 0.19% after trading in a range of 83309.84 and 83742.28. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index fell 0.07%, while Small cap index was up by 0.23%.

The top gaining sectoral indices on the BSE were Realty up by 0.90%, Utilities up by 0.41%, Power up by 0.25%, Bankex up by 0.17% and Consumer Discretionary up by 0.12%, while TECK down by 0.78%, IT down by 0.70%, Healthcare down by 0.64%, Energy down by 0.26% and FMCG down by 0.20% were the top losing indices on BSE.

The top gainers on the Sensex were Maruti Suzuki up by 1.16%, Axis Bank up by 0.72%, Bajaj Finance up by 0.55%, Eternal up by 0.53% and Bajaj Finserv up by 0.49%. On the flip side, HCL Technologies down by 1.29%, Bharti Airtel down by 1.26%, Tech Mahindra down by 1.18%, Sun Pharma down by 1.00% and Infosys down by 0.95% were the top losers.

Meanwhile, Commerce and Industry Minister Piyush Goyal has said food processing, better quality packaging, and branding can help increase the country's agriculture and fishery exports to Rs 20 lakh crore. At present, India's agriculture and fishery exports stand at about Rs 4-4.5 lakh crore.

Goyal said that with the help of government initiatives, India is now exporting fruits and vegetables such as pineapple, jamun, and litchi to different countries. He suggested to enhance partnership between farmers, food processors and exporters. Citing an example, he said that in Indigo flight, people buy food packets including Rice-Dal, poha and upma for Rs 250 to Rs 400, which otherwise would cost only Rs 40.

Through this example, he said 'I want to tell you the potential (of food processing)', and added that there is huge potential to cater to 4 crore Indian origin people living abroad. He said that because of initiatives taken by the Modi government to promote millets, people all over the world are shifting towards these nutritional foodgrains. As a result, there is a situation of shortage of millets in the country. Further, he said that people should not be dependent on government subsidies.

The CNX Nifty is currently trading at 25420.35, down by 55.75 points or 0.22% after trading in a range of 25400.25 and 25524.05. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Maruti Suzuki up by 1.47%, JIO Financial Services up by 0.88%, Indusind Bank up by 0.86%, Axis Bank up by 0.63% and Bajaj Finance up by 0.50%. On the flip side, Cipla down by 1.74%, Bharti Airtel down by 1.25%, Wipro down by 1.16%, HCL Technologies down by 1.14% and Dr. Reddy's Lab down by 1.12% were the top losers.

Asian markets are trading mostly in green; Taiwan Weighted added 123.43 points or 0.55% to 22,650.44, Hang Seng advanced 22.47 points or 0.09% to 23,914.79, KOSPI increased 41.49 points or 1.32% to 3,175.23, Straits Times rose 17.61 points or 0.43% to 4,075.43, Jakarta Composite gained 58.02 points or 0.84% to 7,001.94 and Shanghai Composite strengthened 12.53 points or 0.36% to 3,505.58.

On the flip side, Nikkei 225 slipped 247.56 points or 0.62% to 39,573.72.
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