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Domestic indices trade flat with positive bias in late morning deals
Jul-01-2025

Domestic equity markets traded flat with positive bias in late morning deals on account of buying in Bharat Electronics, Reliance Industries, Asian Paints, Ultratech Cement and Infosys companies’ stocks. Some support came in as India’s gross Goods and Services Tax (GST) collections have doubled over the past five years to reach a record Rs 22.08 lakh crore in the financial year 2024-25, up from Rs 11.37 lakh crore in FY21. Traders took a note of report that External Affairs Minister S Jaishankar has said India is ‘in the middle, hopefully more than the middle’ of a ‘very intricate trade negotiation’ with the United States, adding that he remains optimistic about a successful outcome despite the complexity involved. On the BSE sectoral front, traders were seen pilling up positions in Capital Goods, Energy, TECK, IT and Consumer Durables, while selling was witnessed in Metal, Healthcare, Realty, Auto and Bankex.

On the global front, Asian markets were trading mostly in green following positive cues from the US markets overnight. However, the Japanese stock market was trading significantly lower as US President Donald Trump threatened to impose new tariffs on Japan, following the country's resistance to importing American rice. He also confirmed that the 25% tariff on Japanese auto imports would remain in place, due to the persistent trade imbalance. Back home, in the stock specific development, Keystone Realtors surged as the company, in collaboration with MHADA (Maharashtra Housing and Area Development Authority), received a letter of acceptance (LoA) for the redevelopment of GTB Nagar in Sion.  

The BSE Sensex is currently trading at 83675.58, up by 69.12 points or 0.08% after trading in a range of 83597.51 and 83874.29. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.37%, while Small cap index down by 0.28%.

The top gaining sectoral indices on the BSE were Capital Goods up by 0.53%, Energy up by 0.35%, TECK up by 0.18%, IT up by 0.09% and Consumer Durables up by 0.05%, while Metal down by 0.74%, Healthcare down by 0.57%, Realty down by 0.47%, Auto down by 0.44% and Bankex down by 0.39% were the losing indices on BSE.

The top gainers on the Sensex were Bharat Electronics up by 2.87%, Reliance Industries up by 1.48%, Asian Paints up by 0.94%, Ultratech Cement up by 0.81% and Infosys up by 0.61%. On the flip side, Axis Bank down by 2.56%, Trent down by 1.19%, Tata Steel down by 1.06%, Eternal down by 0.76% and Sun Pharma down by 0.74% were the top losers.

Meanwhile, the Reserve Bank of India (RBI) in its half-yearly The Reserve Financial Stability Report has said that the gross non-performing assets (GNPAs) of the banking system declined to a multi-decadal low of 2.3 per cent in March 2025. Meanwhile, it has indicated a possible rise in GNPAs of 46 banks accounting for 98 per cent of the total assets of scheduled commercial banks (SCBs) to 2.6 per cent by March 2027. The report showed that the loan write-offs, including technical write-offs -- which can be recovered in the future -- were one of the prime reasons for the reduction in GNPAs over the last five years.

In FY 25, write-offs to GNPA ratio for SCBs has increased to 31.8 per cent compared to 29.5 per cent in the previous year, led by private sector lenders and foreign banks, and added that write-offs by PSBs exhibited a marginal decline. The half-yearly slippage ratio, measuring new accretions to NPAs as a share of standard advances at the beginning of the half year, remained stable at 0.7 per cent. Further, on sectoral front, the agricultural sector had the highest contribution to GNPAs at 6.1 per cent, while it was broadly remained stable at 1.2 per cent for personal loans. Meanwhile, GNPAs of public sector banks from the credit card segment increased to 14.3 per cent as against 2.1 per cent in case of the private sector rivals.

The report also showed that share of the large borrowers in the GNPAs was declined to 37.5 per cent as compared to their 43.9 per cent share in the overall outstanding loans. It added that this cohort’s GNPA ratio declined from 3.8 per cent in September 2023 to 1.9 per cent in March 2025. Further, the share of top-100 borrowers in the overall loan pie was stable over the last six months at 15.2 per cent as none of them were classified as NPAs.

The CNX Nifty is currently trading at 25526.30, up by 9.25 points or 0.04% after trading in a range of 25513.30 and 25593.40. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Bharat Electronics up by 2.94%, Apollo Hospital Ent. up by 2.35%, Reliance Industries up by 1.44%, JIO Financial Serv. up by 1.06% and Asian Paints up by 1.02%. On the flip side, Axis Bank down by 2.59%, Trent down by 1.13%, Tata Steel down by 1.06%, Nestle down by 0.97% and Shriram Finance down by 0.89% were the top losers.

Asian markets were trading mostly in green; Shanghai Composite strengthened 9.64 points or 0.28% to 3,454.07, Straits Times rose 31.35 points or 0.78% to 3,995.64, KOSPI increased 23.53 points or 0.76% to 3,095.23 and Taiwan Weighted added 297.7 points or 1.32% to 22,553.72. However, Jakarta Composite plunged 18.45 points or 0.27% to 6,909.23 and Nikkei 225 slipped 502.4 points or 1.26% to 39,984.99.
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