Indian equity benchmarks came off their intraday high points during early afternoon session, on the back of mixed cues from other Asian markets along with selling at Healthcare and Oil & Gas counters. Sentiments got hit, after the latest HSBC ‘flash’ PMI data report, compiled by S&P Global, has showed that Indian private sector companies started 2025 with a slowdown in growth, amid slower growth in new business intakes and aggregate output. A stronger expansion in the manufacturing industry was more-than-offset by a loss of growth momentum in the service economy. Besides, prices charged for goods and services rose at a faster rate than in December as cost pressures intensified.
On the global front, Asian markets were trading mixed, after the Bank of Japan raised its short-term interest rate to the highest in seventeen years on Friday as expected, aiming for a sustainable and stable achievement of the price stability target of 2.0 percent amidst rising wages. At the policy board meeting, members voted 8-1 to raise the uncollateralized overnight call rate to around 0.5 percent from 0.25 percent. This was the highest since the global financial crisis in 2008.
The BSE Sensex is currently trading at 76557.07, up by 36.69 points or 0.05% after trading in a range of 76225.26 and 76985.95. There were 17 stocks advancing against 13 stocks declining on the index.
The broader indices were trading in red; the BSE Mid cap index fell by 0.87%, while Small cap index was down by 1.25%.
The top gaining sectoral indices on the BSE were TECK up by 0.68%, IT up by 0.45%, FMCG up by 0.38%, Metal up by 0.35% and Utilities up by 0.22%, while Healthcare down by 1.65%, Oil & Gas down by 1.41%, Realty down by 1.40%, Industrials down by 1.35% and Capital Goods down by 1.20% were the top losing indices on BSE.
The top gainers on the Sensex were Power Grid up by 1.55%, Hindustan Unilever up by 1.37%, Infosys up by 1.30%, Tata Steel up by 1.23% and Tech Mahindra up by 0.76%. On the flip side, Tata Motors down by 1.72%, Zomato down by 1.49%, Mahindra & Mahindra down by 1.24%, Reliance Industries down by 0.92% and Ultratech Cement down by 0.90% were the top losers.
Meanwhile, the All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) for December 2024 eased to 5.01 per cent and 5.05 per cent from 5.35 per cent and 5.47 per cent, respectively, in November 2024. In the same month last year (December 2023), retail inflation for farm and rural workers was 7.71 per cent and 7.46 per cent, respectively.
The inflation rate for both categories of labourers has been coming down over the last four months. The easing of the inflation burden for both agricultural and rural labourers comes as a welcome relief for these vulnerable segments that are hit hardest by spiralling prices. It also leaves more money in their hands to buy a wider range of goods, leading to a better lifestyle.
Ministry of Labour & Employment in its latest report has showed that the All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) remained unchanged for December 2024 at 1,320 and 1,331 points, respectively. According to the report, the CPI-AL and CPI-RL were 1320 points and 1331 points, respectively, in November 2024.
The CNX Nifty is currently trading at 23213.55, up by 8.20 points or 0.04% after trading in a range of 23102.90 and 23347.30. There were 25 stocks advancing against 25 stocks declining on the index.
The top gainers on Nifty were Tata Consumer Products up by 1.83%, Eicher Motors up by 1.68%, Grasim Industries up by 1.56%, Power Grid up by 1.53% and Hindustan Unilever up by 1.38%. On the flip side, Dr. Reddy's Lab down by 5.07%, Trent down by 2.22%, Apollo Hospital down by 1.80%, Tata Motors down by 1.74% and Cipla down by 1.53% were the top losers.
Asian markets were trading mixed; Hang Seng advanced 369.92 points or 1.88% to 20,070.48, Shanghai Composite strengthened 22.47 points or 0.7% to 3,252.63 and KOSPI increased 21.31 points or 0.84% to 2,536.80, while Jakarta Composite plunged 26.84 points or 0.37% to 7,205.80, Nikkei 225 slipped 26.89 points or 0.07% to 39,931.98 and Straits Times fell 1.47 points or 0.04% to 3,805.10.