Indian equities ended Monday’s trading session, October 13, with mild losses, as a sharp recovery in the second half helped the key benchmark indices pare their early declines and stay above crucial levels.
The Nifty 50 closed 0.23% lower at 25,227, while the S&P BSE Sensex lost 0.21% to finish at 82,327 points. Broader markets, however, closed mixed, with the Nifty Midcap 100 advancing 0.11%, while the Nifty Smallcap 100 closed 0.17% lower.
Among sectors, Nifty PSU Bank led the gains with a 0.24% surge, followed by Media and Nifty Private Bank, both rising 0.10%.
On the downside, the Nifty FMCG index was the top laggard, slipping 0.90%, followed by Nifty Consumer Durables and Nifty IT, which declined 0.84% and 0.78%, respectively. Others, including Nifty Metal, Nifty Oil & Gas, and Nifty Auto, also closed lower.
The markets initially reacted negatively to renewed trade tensions between the U.S. and China after Donald Trump imposed a 100% tariff on all Chinese imports. The move came in response to Beijing adding more rare earth minerals to its export restriction list. However, the sentiment later cooled as markets took note of Trump’s softened stance, with him clarifying that the U.S. does not intend to “hurt China.”
In addition, the talks between Prime Minister Narendra Modi and the U.S. President reaffirmed their commitment to advancing the India–U.S. trade pact.
BLS International emerges as the top laggard
BLS International Services emerged as the top laggard among Nifty 500 stocks, tumbling 11% to ₹299.80 apiece, its biggest single-day crash since March 2020 after the digital visa and passport services provider was barred from bidding for government tenders for two years.
The Ministry of External Affairs banned the company from participating in tenders floated by it and Indian Missions, which represent India’s diplomatic and consular offices abroad, BLS said on Friday.
Reliance Power was another major loser, plunging 5% to ₹46.22 apiece after the company disclosed that its Chief Financial Officer, Ashok Pal, was arrested on October 10, according to an official statement.
Profit booking dragged Tata Communications lower by 3.85% to ₹1,798 apiece. The stock had gained nearly 16% last week. Meanwhile, Redington resumed its losing streak after a brief pause, declining 3.7% to ₹279.40 apiece.
Vodafone Idea shares also came under pressure, closing 3.43% lower at ₹8.73 apiece, after the Supreme Court once again deferred hearing on its plea regarding additional adjusted gross revenue (AGR) dues, following a request from the Centre for more time.
Investors booked profits in Netweb Technologies as the stock fell another 3.43% to ₹3,889 apiece. The company had posted stellar gains of 65.27% in September, driven by strong order wins.
Avenue Supermarts, the operator of DMart retail chain, extended its decline, dropping another 2.8% after its September-quarter earnings missed Street estimates. Similarly, EMS stock Kaynes Technology ended with a drop of over 3%.
Jubilant Ingrevia, Tata Investment lead gainers despite weak market close
While the broader market closed lower, several stocks bucked the trend and ended with strong gains. Jubilant Ingrevia emerged as the top gainer, rallying 8.5% to ₹706.3 apiece, followed by Tata Investment Corporation, which jumped 6.8% to ₹9,922.
KFin Technologies was another standout performer, surging 6.7% to ₹1,143 apiece after Citi turned bullish on the stock, citing robust mutual fund inflows and improving sentiment in the primary market. The brokerage ‘double-upgraded’ the stock to Buy from its earlier Sell rating and raised the price target to ₹1,215 from ₹1,100.
Meanwhile, CE Info Systems, the parent company of MapMyIndia, pared intraday gains but still closed 5% higher at ₹1,788 apiece. The rally followed Railway Minister Ashwini Vaishnaw’s social media post highlighting the features of one of its products, Mappls. The Minister added that the Railways will soon sign an agreement with the company to use the application.
AMC stocks such as UTI Asset Management, Aditya Birla Sun Life AMC, and HDFC Asset Management also rose up to 4%, while capital market players including BSE, Choice International, MCX, Motilal Oswal Financial Services, and JM Financial gained up to 3%.
Other notable gainers included L&T Finance, Dr. Lal PathLabs, Shipping Corporation of India, Torrent Power, Fortis Healthcare, Adani Power, Ather Energy, Himadri Speciality, and Force Motors, all of which advanced more than 2.5%.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
