Indian equity markets entered into red territory in late afternoon session as traders were cautious ahead of the Budget session. Traders were worried as 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. The HSBC Flash India Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - fell from a final reading of 59.2 in December to 57.9 in January, indicating the weakest rate of expansion for 14 months.
On the global front, Asian markets were trading mixed after U.S. President Donald Trump said that his recent conversation with Chinese President Xi Jinping was friendly and that he would rather not impose tariffs on China, suggesting a potentially softer stance on tariffs against the country. European markets were trading higher after U.S. President Donald Trump called for lower interest rates and cheaper oil prices.
The BSE Sensex is currently trading at 76334.33, down by 186.05 points or 0.24% after trading in a range of 76225.26 and 76985.95. There were 12 stocks advancing against 18 stocks declining on the index.
The broader indices were trading in red; the BSE Mid cap index declined 1.52%, while Small cap index was down by 1.89%.
The few gaining sectoral indices on the BSE were TECK up by 0.48%, FMCG up by 0.43% and IT was up by 0.21%, while Healthcare down by 2.12%, Realty down by 2.10%, Industrials down by 1.97%, Oil & Gas down by 1.85% and Capital Goods was down by 1.72% were the top losing indices on BSE.
The top gainers on the Sensex were Hindustan Unilever up by 1.89%, Nestle up by 1.00%, Infosys up by 0.95%, Tech Mahindra up by 0.87% and Power Grid up by 0.78%. On the flip side, Tata Motors down by 2.21%, Mahindra & Mahindra down by 2.03%, Ultratech Cement down by 1.67%, Indusind Bank down by 1.52% and Zomato down by 1.46% were the top losers.
Meanwhile, 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.
The HSBC Flash India Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - fell from a final reading of 59.2 in December to 57.9 in January, indicating the weakest rate of expansion for 14 months. Nevertheless, the headline figure was comfortably above its long-run average of 54.7.
However, the HSBC Flash India Manufacturing PMI - a single-figure snapshot of factory business conditions calculated from measures of new orders, output, employment, supplier delivery times and stocks of purchases - increased from 56.4 in December to 58.0 in January, highlighting the best improvement in the health of the sector since July 2024.
The report further noted that business confidence improved from December, reflecting more buoyant forecasts among manufacturing companies who were at their most optimistic since May 2024. But, the overall level of positive sentiment at service providers slipped to a three-month low owing to concerns around competition.
The CNX Nifty is currently trading at 23129.80, down by 75.55 points or 0.33% after trading in a range of 23102.90 and 23347.30. There were 21 stocks advancing against 29 stocks declining on the index.
The top gainers on Nifty were Hindustan Unilever up by 1.99%, Britannia up by 1.74%, Eicher Motors up by 1.73%, Tata Consumer up by 1.31% and Grasim Industries up by 0.97%. On the flip side, Dr. Reddy's Lab down by 4.70%, Trent down by 3.18%, Cipla down by 2.39%, Tata Motors down by 2.24% and Apollo Hospital down by 2.16% were the top losers.
Asian markets were trading mixed; Hang Seng advanced 365.63 points or 1.82% to 20,066.19, Shanghai Composite strengthened 22.47 points or 0.69% to 3,252.63, KOSPI increased 21.31 points or 0.84% to 2,536.80 and Straits Times was up by 0.54 points or 0.01% to 3,807.11. On the flip side, Jakarta Composite plunged 26.58 points or 0.37% to 7,206.06 and Nikkei 225 was down by 26.89 points or 0.07% to 39,931.98.
European markets were trading higher; UK’s FTSE 100 increased 3.78 points or 0.04% to 8,568.98, France’s CAC rose 92.27 points or 1.17% to 7,984.88 and Germany’s DAX was up by 73.26 points or 0.34% to 21,484.79.