Mumbai, Jan 27: Indian equity markets witnessed a sharp decline on Monday amid weak global cues and uncertainties over US trade policies which dampened domestic investors’ sentiment.

At the closing bell, the BSE Sensex shed 824 points or 1.08 per cent at 75,366, while the NSE Nifty50 slipped 263 points or 1.14 per cent at 22,829.

On the 30-stock Sensex, only six stocks managed to stay in the green. ICICI Bank led the gainers with a 1.75 per cent rise, followed by the SBI, Hindustan Unilever, Asian Paints, UltraTech Cement, and Maruti Suzuki India.

However, the majority of stocks faced losses like Zomato, Tech Mahindra, HCLTech and Tata Motors.

Similarly, on the Nifty50, 10 stocks traded higher. Britannia Industries emerged as the top gainer, rising 1.93 per cent, followed by ICICI Bank, Hindustan Unilever, Larsen & Toubro and Nestle India.

On the losing side, Bharat Electronics Limited (BEL) dropped 2.68 per cent, followed by HCLTech, JSW Steel and Trent.

Sectoral performance was largely negative. The Media index led the losses, falling 3.83 per cent, followed by the Pharma index, which declined 2.35 per cent, and the IT index, which shed 2.19 per cent.

The only exception was the PSU Bank index, which ended the day by showing a marginal gain of 0.12 per cent.

Broader markets experienced even sharper losses. The Nifty Midcap 100 fell 2.25 per cent, while the Nifty Smallcap 100 tumbled 3.51 per cent.

According to Rupak De of LKP Securities, the index slipped from its recent consolidation on the daily chart, heightening pessimism across the Indian equity market.

“Sentiment is likely to favour bearish trades in the short term, particularly as long as the index remains below 23,000. On the lower side, the prevailing weakness could potentially lead to a decline toward 22,500,” he mentioned.

Meanwhile, Asian markets saw mixed reactions. Hong Kong’s Hang Seng Tech Index rose 2 per cent, but Japan’s Nikkei 225 futures dropped 0.6 per cent.

India’s volatility index, the India VIX, climbed 7.36 per cent to 17.98.

Gold experienced volatile trading as the first session of the week saw profit booking, with Comex gold encountering resistance near $2,770 but maintaining strong support around $2,750, showcasing resilience to break below that level.

Ahmedabad, Jan 27: Adani Total Gas Ltd (ATGL) on Monday reported a 12 per cent increase in revenue from operations in the third quarter of FY25 at Rs 1,397 crore.

EBITDA for the nine months of the current fiscal stood at Rs 893 crore, up by 6 per cent (year-on-year), India’s leading energy transition company said in a statement.

“ATGL maintained its growth trajectory, focusing on customer centric approach and delivering a robust operational performance with a notable 15 per cent year-on-year increase in volume,” said Suresh P Manglani, ED and CEO, ATGL.

Despite the reduced APM gas allocation, “Team ATGL ensured an uninterrupted supply of CNG to our large masses of consumers by sourcing additional supplies of gas through alternative options,” he mentioned.

For ATGL, the allocation of APM gas for the CNG (T) segment was reduced from 63 per cent to 51 per cent from October 16, 2024, and then further from 51 per cent to 37 per cent, effective November 16 onwards.

Manglani stated the company is striving to further accelerate the development of PNG and CNG infrastructure across its 34 geographic areas (GAs), including the recently added Jalandhar GA in Punjab.

In Q3, the company increased CNG stations to 605 by adding 28 new stations and expanded PNG home connections to 9.22 lakh, by adding 28,677 new households.

It increased industrial and commercial connections to 8,913 adding 167 new consumers.

Along with the IndianOil-Adani Gas Pvt Ltd (IOAGPL), the company now has a combined network of 999 CNG stations, with 41 new stations added in the quarter. PNG home connections crossed the 1-million mark to 1.09 million across the country, touching over 4 million lives on a daily basis.

IOAGPL is a joint venture company of Indian Oil Corporation (IOC) and Adani Total Gas Limited.

Further, ATGL has also formed two wholly-owned subsidiaries — Adani TotalEnergies E-Mobility Ltd (ATEL) and Adani TotalEnergies Biomass Ltd (ATBL) for its E-Mobility and biomass business, respectively.

About 1,914 EV charging points have already been commissioned across 226 cities and charge points have now increased to 20 airports in India, informed the company.

Mumbai, Jan 24: The Reserve Bank of India (RBI) has got in touch with banks this week to understand the impact of its new liquidity coverage norms following concerns that the move would adversely impact the flow of credit in the economy.

Banks have provided some feedback, asked for deferment of the norms and alternative mechanisms to cope with the likely hit from these norms.

The move has been initiated at a time when Sanjay Malhotra has just taken over as the new Governor of the RBI succeeding Shaktikanta Das, who completed an extended tenure as head of the central bank in December.

Liquidity has already turned tight as the banking system was facing a deficit of over Rs 3 lakh crore on Thursday despite the daily variable repo rate auctions that the RBI has started carrying out last week.

The RBI had on July 25 issued a draft circular which will require banks to set aside more funds to cover their risks from April 1 this year.

The RBI said banking has undergone rapid transformation in recent years. While increased usage of technology has facilitated the ability to make instantaneous bank transfers and withdrawals, it has also led to a concomitant increase in risks, requiring proactive management. It has reviewed the Liquidity Coverage Ratio (LCR) framework to increase the resilience of banks.

Banks have been directed to assign an additional 5 per cent funds as a run-off factor for retail deposits which are enabled with Internet and Mobile Banking facilities (IMB). Stable retail deposits enabled with IMB shall have 10 per cent run-off factor and less stable deposits enabled with IMB shall have 15 per cent run-off factor.

LCR requires banks to maintain sufficient high-quality liquid assets (HQLAs), comprising mainly government securities, to manage a potential liquidity crunch due to any sudden withdrawals of funds. The RBI has rejected the request of banks to include their existing cash reserve ratios to estimate HQLAs.

According to treasury officials of banks, this would in effect mean over Rs 4 lakh crore would have to be diverted from banks to buy government bonds instead of extending credit to corporates and individuals to demand in the economy.

Banks have also sounded the finance ministry on the need for easing the stringent RBI guidelines which are likely to hit credit growth.