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Bourses continue to trade flat in early afternoon session
Jul-01-2025

Indian markets traded near neutral lines but in green in early afternoon session. Investors’ focus now shifted towards potential India-US trade deal. Traders got some support as India's manufacturing sector witnessed a strong growth in the month of June, reaching a fourteen-month high with improved trends in output and new orders, alongside a record upturn in employment. According to the survey report, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) surged to 58.4 in June from 57.6 in May. Besides, 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. On the global front, Asian markets were trading mostly in green as Japan's consumer sentiment increased further in June to the highest level in four months. The seasonally adjusted consumer confidence index rose to 34.5 in June from 32.8 in May. 

The BSE Sensex is currently trading at 83649.44, up by 42.98 points or 0.05% after trading in a range of 83572.51 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 declined 0.40%, while Small cap index was down by 0.32%.

The few gaining sectoral indices on the BSE were Metal up by 0.33%, Capital Goods up by 0.31%, Energy up by 0.21% and Basic Materials was up by 0.14%, while Realty down by 0.52%, FMCG down by 0.51%, Healthcare down by 0.43%, Power down by 0.32% and Bankex was down by 0.31% were the top losing indices on BSE.

The top gainers on the Sensex were Bharat Electronics up by 2.54%, Reliance Industries up by 1.47%, Ultratech Cement up by 1.00%, Asian Paints up by 0.81% and HDFC Bank up by 0.51%. On the flip side, Axis Bank down by 2.62%, Eternal down by 1.29%, Trent down by 1.11%, Sun Pharma down by 0.88% and Tech Mahindra down by 0.83% were the top losers.

Meanwhile, credit rating agency ICRA in its latest report has said that domestic commercial vehicle (CV) industry is likely to see a 3-5 per cent year-on-year growth in wholesale volumes this fiscal (FY26), after logging a slight dip of 1.2 per cent in FY25. This growth is expected to be driven by resumption of construction and infrastructure activities and a steady economic environment.

According to the report, domestic CV wholesale volumes saw a miniscule 0.1 per cent increase in May 2025 on a year-on-year basis, while sequentially it grew by around 1.6 per cent. However, in the first two months (April-May) of the current financial year, the CV wholesale volumes declined by 0.7 per cent year-on-year. It said CV retail volumes declined by 3.7 per cent year-on-year in May 2025, while sequential decline was at 11.3 per cent, and added that such trends reflect elevated inventory at dealerships' end. 

The report said in the medium and heavy commercial vehicle (M&HCV) segment, retail sales volumes in May witnessed a moderate decline of 4.4 per cent on a Y-o-Y basis, while reporting a sizeable decline of 18.9 per cent sequentially. Regional disruptions and geopolitical situation had some bearing on demand for the month. The M&HCV (trucks) wholesale volumes are expected to register a 0-3 per cent Y-o-Y growth in FY26, after a 4 per cent decline in FY25. Retail volumes in the light commercial vehicle (LCV) segment in May declined by 3.2 per cent on a Y-o-Y basis, and by 4.9 per cent on a sequential basis, reflecting muted demand. 

It said the LCV (trucks) wholesale volumes are likely to register a limited 3-5 per cent Y-o-Y growth in FY26. Increasing preference for pre-owned vehicles over new vehicles in this segment has also impacted the demand in the recent past. While M&HCV (trucks) and LCV (trucks) segments are expected to witness modest Y-o-Y volume growth of 0-3 per cent and 3-5 per cent, respectively, the buses segment is likely to see a relatively higher growth of 8-10 per cent Y-o-Y for this fiscal. At the same time, pick up in construction and mining activities, coupled with a steady economic environment, will support the demand prospects for the LCV (trucks) and M&HCV (trucks) segments, while replacement demand is likely to support volume growth for the buses segment.

The CNX Nifty is currently trading at 25541.40, up by 24.35 points or 0.10% after trading in a range of 25501.80 and 25593.40. There were 27 stocks advancing against 23 stocks declining on the index.

The top gainers on Nifty were Apollo Hospital up by 3.21%, Bharat Electronics up by 2.63%, Reliance Industries up by 1.67%, JIO Financial up by 1.42% and Indusind Bank up by 1.13%. On the flip side, Axis Bank down by 2.31%, Nestle down by 1.56%, Eternal down by 1.27%, Shriram Finance down by 1.08% and Trent down by 0.94% were the top losers.

Asian markets were trading mostly in green; Taiwan Weighted added 297.7 points or 1.32% to 22,553.72, Straits Times rose 28.58 points or 0.72% to 3,992.87, KOSPI increased 17.95 points or 0.58% to 3,089.65 and Shanghai Composite was up by 11.27 points or 0.33% to 3,455.70. On the flip side, Jakarta Composite plunged 27 points or 0.39% to 6,900.68 and Nikkei 225 was down by 501.06 points or 1.25% to 39,986.33.
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