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Domestic indices keep heads above water in late morning deals
Sep-11-2025

Domestic equity indices were trading slightly in green in late morning deals on account of buying in NTPC, Eternal, Adani Ports, Power Grid and Axis Bank. Meanwhile, broader indices were trading in green with BSE Mid cap index and Small cap index gaining in the range of 0.20-0.40%. There was some encouragement in markets as Commerce and Industry Minister Piyush Goyal said that India is in active dialogue with the United States for a free trade agreement. However, cautiousness prevailed in markets as a private report said India’s consumer price index (CPI)-based retail inflation rate is likely to have recorded an uptick in August to 2.18 per cent from an eight year low of 1.55 per cent in July. 

On the global front, Asian markets were trading mostly in green on increasing optimism that the US Fed will lower interest rates a couple of times this year after report showed softer-than-expected US producer price figures. Back home, on the BSE sectoral front, traders were seen pilling up positions in Oil & Gas, Energy, Power, Utilities and PSU, while selling was witnessed in IT, TECK, Auto, Consumer Disc and Consumer Durables.

The BSE Sensex is currently trading at 81443.67, up by 18.52 points or 0.02% after trading in a range of 81216.91 and 81583.88. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.20%, while Small cap index up by 0.37%.

The top gaining sectoral indices on the BSE were Oil & Gas up by 1.76%, Energy up by 1.33%, Power up by 1.20%, Utilities up by 1.17% and PSU up by 1.15%, while IT down by 0.68%, TECK down by 0.42%, Auto down by 0.34%, Consumer Disc down by 0.06% and Consumer Durables down by 0.03% were the top losing indices on BSE.

The top gainers on the Sensex were NTPC up by 1.50%, Eternal up by 1.45%, Adani Ports up by 1.24%, Power Grid up by 0.83% and Axis Bank up by 0.52%. On the flip side, Infosys down by 1.32%, Titan down by 0.71%, Ultratech Cement down by 0.64%, Tech Mahindra down by 0.60% and HDFC Bank down by 0.46% were the top losers.

Meanwhile, Chief Economic Adviser (CEA) V Anantha Nageswaran has said that the goods and services tax (GST) reforms will help offset some of the adverse impacts of steep tariffs of 50 per cent imposed by the US on Indian shipment and the net impact of this on the Gross Domestic Product (GDP) growth would be 0.2-0.3 per cent in the current financial year (FY26). On the positive side, he said, the GST reforms will play a very good offsetting role by substituting domestic demand for whatever export demand that may not materialise from the United States. He said GST reforms will help alleviate the second and third round effects by creating domestic demand and therefore removing the uncertainty that will come in the way of capital formation. 

CEA exuded confidence that the tariff situation will turn out to be transient and short-lived, rather than long lived. He said ‘but in the event that it lasts longer than we want it to, especially the penal tariff of 25 per cent, then the second and third round effects will become more pronounced, which is the uncertainty with respect to investments, capital formation, overall sentiment in the economy’. However, he said GST reform would not only boost domestic consumption but more importantly it provides an antidote to the second and third rounds of tariff impact. 

On structural reforms in the domestic economy, Nageswaran said while many initiatives have been started by the Centre to boost the agriculture sector, these initiatives are state-level subjects that should be supplemented by them. He emphasised that the agriculture sector still has room to contribute at least 0.5-0.7 per cent more to India's GDP growth and that is a function of giving farmers the right to sell to whosoever, whatsoever, wherever, and whenever. He said 'That is the kind of freedom that farmers need much more than agriculture subsidies. Farmers also need some element of insurance, given their business is inherently prone to ravages of nature and uncertainties'. He added that empowering farmers and not imposing restrictions in their ability to tap market signals from within India or overseas, these would unleash productivity in agriculture and add to GDP growth.

The CNX Nifty is currently trading at 24977.85, up by 4.75 points or 0.02% after trading in a range of 24940.15 and 25008.95. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 2.94%, Shriram Finance up by 2.68%, NTPC up by 1.49%, ONGC up by 1.35% and Eternal up by 1.33%. On the flip side, Bajaj Auto down by 1.49%, Infosys down by 1.30%, SBI Life down by 0.98%, Wipro down by 0.96% and Eicher Motors down by 0.83% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 453.33 points or 1.03% to 44,291.00, Taiwan Weighted added 23.12 points or 0.09% to 25,215.71, Jakarta Composite gained 66.44 points or 0.86% to 7,765.45, Shanghai Composite strengthened 44.34 points or 1.16% to 3,856.56, KOSPI increased 15.80 points or 0.48% to 3,330.33 and Straits Times rose 2.17 points or 0.05% to 4,348.63. However, Hang Seng declined 128.26 points or 0.49% to 26,072.00.
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