Bourses add some points in early afternoon session

Indian equity markets added some points in early afternoon session tracing some positive cues from other Asian markets. Globally, investors were keeping a close eye on tariff related developments by the US. Traders got some support as Reserve Bank of India (RBI) has come up with more measures including the purchase of government bonds under open market operations (OMO) and foreign currency swaps, with an aim to ease the tight liquidity conditions in the banking system. The RBI’s decision to inject liquidity into the banking system has been taken on a review of current and evolving liquidity conditions. Meanwhile, with US President Donald Trump's threat of reciprocal tariff stoking fears of a global trade war, India is looking at finding an amicable solution to the challenge under the broader framework of a trade deal with Washington.  On the global front, Asian markets were trading mostly in green after US President Donald Trump announced a one-month tariff delay on auto imports from Mexico and Canada. 

The BSE Sensex is currently trading at 73956.76, up by 226.53 points or 0.31% after trading in a range of 73415.68 and 74308.59. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index surged 0.60%, while Small cap index was up by 1.49%.

The top gaining sectoral indices on the BSE were Metal up by 2.26%, Energy up by 1.83%, Oil & Gas up by 1.38%, Basic Materials up by 1.35% and Healthcare was up by 1.22%, while Telecom down by 0.40% and Consumer Durables down by 0.14% were the few losing indices on BSE.

The top gainers on the Sensex were Asian Paints up by 3.50%, Tata Steel up by 2.63%, Axis Bank up by 2.25%, Reliance Industries up by 1.81% and Hindustan Unilever up by 1.61%. On the flip side, Tech Mahindra down by 1.60%, Power Grid down by 0.91%, Kotak Mahindra Bank down by 0.86%, HDFC Bank down by 0.64% and ITC down by 0.44% were the top losers.

Meanwhile, Central Electricity Authority (CEA) has issued guidelines to promote efficient allocation, sharing, and utilization of optical fibers that will contribute to a better resource management across the power sector. These guidelines aim to provide a clear and standardized framework for the allocation and sharing of fiber cores of Optical Ground Wire (OPGW)/Under Ground Fiber Optic (UGFO) Cable for power system applications. 

It said the guidelines establish a structured approach to fiber allocation, safeguarding power system communication needs and mitigating future conflicts. A well-defined framework has been outlined to facilitate the sharing of spare fiber capacity among various stakeholders, including Central Transmission Utilities (CTUs), State Transmission Utilities (STUs), Transmission Service Providers (TSPs), and other entities. Leasing of spare fibers for non-grid applications is permitted provided it doesn't compromise future grid requirements. All leasing contracts to include a termination clause, mandating maximum of 18-month notice period to reclaim fiber cores for grid applications whenever required.

It further said the guidelines emphasised the need for assessment of future grid communication needs and adherence to applicable CEA/CERC/SERC regulations. Utilities will be encouraged to plan and install OPGW with 48/96 fiber cores to provide sufficient capacity for last-mile connectivity, future expansions, and LILO requirements, leveraging the Right of Way (ROW) effectively. A comprehensive database to be maintained to monitor the allocation and utilization of OPGW fibers, ensuring transparency and accountability. 

The CNX Nifty is currently trading at 22414.75, up by 77.45 points or 0.35% after trading in a range of 22245.85 and 22491.30. There were 32 stocks advancing against 18 stocks declining on the index.

The top gainers on Nifty were Asian Paints up by 3.72%, BPCL up by 3.19%, Hindalco up by 2.77%, Tata Steel up by 2.77% and Coal India up by 2.59%. On the flip side, Trent down by 1.79%, Tech Mahindra down by 1.58%, HDFC Life Insurance down by 0.76%, Bharat Electronics down by 0.73% and HDFC Bank down by 0.62% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 653.85 points or 2.77% to 24,248.06, Nikkei 225 surged 286.69 points or 0.76% to 37,704.93, Jakarta Composite gained 108.2 points or 1.66% to 6,639.60, Shanghai Composite strengthened 36.68 points or 1.1% to 3,378.64, Straits Times rose 27.84 points or 0.71% to 3,926.24 and KOSPI was up by 18.03 points or 0.7% to 2,576.16. On the flip side, Taiwan Weighted was down by 156.47 points or 0.69% to 22,715.43.