Bourses remain in green during early afternoon session

In a volatile trading session, Indian equity markets remained in green during early afternoon session. Traders took note of report that commerce ministry has said that Indian and US officials will hold discussions this week to expand and deepen bilateral trade ties in a mutually beneficial manner and enhance supply chain integration. To discuss trade-related issues with India, Assistant US Trade Representative for South and Central Asia Brendan Lynch, along with a team of US government officials, will be visiting India from March 25, 2025- March 29, 2025. However, gains were limited ahead of monthly F&O expiry. On the global front, Asian markets are trading mixed amid reports that US President Donald Trump may hold back some of the reciprocal tariffs set to take effect on April 2. 

The BSE Sensex is currently trading at 78073.53, up by 89.15 points or 0.11% after trading in a range of 77912.18 and 78741.69. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 1.16%, while Small cap index was down by 1.66%.

The only gaining sectoral indices on the BSE was IT up by 1.31% and TECK up by 0.95%, while Consumer Durables down by 1.63%, Metal down by 1.38%, Realty down by 1.37%, Energy down by 1.31% and Telecom was down by 1.30% were the top losing indices on BSE.

The top gainers on the Sensex were Ultratech Cement up by 3.72%, HCL Tech up by 2.20%, HDFC Bank up by 2.15%, Infosys up by 2.12% and Bajaj Finserv up by 2.12%. On the flip side, Eternal down by 4.87%, Indusind Bank down by 4.71%, ICICI Bank down by 1.85%, Adani Ports down by 1.43% and Mahindra & Mahindra down by 1.06% were the top losers.

Meanwhile, India Solar Manufacturing Association (ISMA) has asked the government to include solar cells and modules in the proposed free trade agreement (FTA) between India and the US to eliminate duties on these products. In its recommendations to the government on the ongoing India-US trade agreement talks, ISMA in a letter to the New and Renewable Energy Ministry has requested to facilitate zero-duty trade between India and the US on solar cells and modules.  

The body has also requested for zero-duty trade of polysilicon, ingots, and wafers between India and the US, saying it will support India's entry into manufacturing of upstream segments. It said there should also be zero-duty imports of capital goods and equipment used in PV manufacturing industry from the United States and additional incentives for US fabricators to set up manufacturing bases in India.

ISMA said India's solar manufacturing industry stands at the threshold of becoming a global leader. It noted that with the right trade architecture in place, supported by disciplined policy continuity and robust safeguards, the proposed bilateral trade agreement with the United States could mark a defining moment in India's Industrial and clean energy journey. 

The CNX Nifty is currently trading at 23687.40, up by 29.05 points or 0.12% after trading in a range of 23627.55 and 23869.60. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Ultratech Cement up by 3.72%, Trent up by 2.95%, HDFC Bank up by 2.24%, Bajaj Finserv up by 2.20% and HCL Tech up by 2.13%. On the flip side, Indusind Bank down by 4.79%, Dr. Reddy's Lab down by 2.82%, Hindalco down by 2.10%, Coal India down by 1.86% and ICICI Bank down by 1.76% were the top losers.

Asian markets are trading mixed; Nikkei 225 surged 172.05 points or 0.46% to 37,780.54, Taiwan Weighted added 166.55 points or 0.75% to 22,273.19, Jakarta Composite gained 76.52 points or 1.23% to 6,237.74 and Straits Times was up by 35.76 points or 0.9% to 3,972.09. On the flip side, Shanghai Composite weakened 3.86 points or 0.11% to 3,366.17, KOSPI dropped 16.26 points or 0.62% to 2,615.81 and Hang Seng was down by 548.54 points or 2.35% to 23,357.02.