Bourses trade in fine fettle in early afternoon session

Despite the uncertainty about U.S. tariff, Indian markets continued their fine fettle trade in early afternoon session. Traders took note of report that the third session of the India-Uganda Joint Trade Committee was held in New Delhi. The session marked a significant step in strengthening India-Uganda trade relations after a gap of 23 years. Both sides reviewed the bilateral trade and agreed that the current trade volume does not reflect the full potential of economic collaboration. They resolved to take concerted efforts to enhance, deepen, and diversify bilateral trade. Discussions were also held on the formation of an India-Uganda Joint Business Forum to facilitate increased engagement between industry leaders from both nations.

On the global front, Asian markets are trading mixed after U.S. President Donald Trump said tariffs coming in April will 'probably be more lenient than reciprocal' and that he would consider lowering tariff rates imposed on China. Trump added there would be exceptions to the tariffs, but there would be ‘not too many exceptions.’

The BSE Sensex is currently trading at 77614.87, up by 326.37 points or 0.42% after trading in a range of 77082.51 and 77747.46. There were 20 stocks advancing against 10 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.02%, while Small cap index was up by 0.13%.

The top gaining sectoral indices on the BSE were Bankex up by 0.71%, Oil & Gas up by 0.70%, PSU up by 0.69%, FMCG up by 0.69% and Consumer Durables was up by 0.59%, while Auto down by 0.89%, Healthcare down by 0.77%, Consumer Disc down by 0.23% and Telecom was down by 0.11% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finserv up by 1.61%, Larsen & Toubro up by 1.57%, Ultratech Cement up by 1.57%, HDFC Bank up by 1.28% and Bajaj Finance up by 1.10%. On the flip side, Tata Motors down by 5.56%, Sun Pharma down by 1.81%, HCL Tech down by 0.69%, Mahindra & Mahindra down by 0.63% and Tata Steel down by 0.35% were the top losers.

Meanwhile, Ministry of Commerce and Industry has stated that the third Session of the India-Uganda Joint Trade Committee (JTC) took place and marked a renewed commitment to strengthening economic ties between the two nations after a 23-year gap. Both parties acknowledged that the current trade volume does not reflect the full potential of their partnership and has committed to take focused measures to expand and diversify bilateral trade between the countries. Besides, the establishment of an India-Uganda Joint Business Forum to enhance engagement between industry leaders from both countries has been discussed.

India-Uganda in their discussion identified key sectors to boost trade and investment, including minerals, dairy products, essential oils, coffee, cocoa products, pulses, spices, fruits, vegetables, plastic raw materials and residual chemical products. Additionally, cooperation in mining, banking, digital infrastructure, MSME development, health, pharmaceuticals, electric vehicles, critical minerals (including Rare Earth Elements -- REE) and petrochemicals was highlighted as a priority. Both countries have agreed to explore Memorandums of Understanding (MoUs) on the recognition of Indian Pharmacopoeia and collaboration in Public Works and Infrastructure, Agriculture and Allied sectors, Traditional Medicine, and Tele-medicine. They also had a discussion about strengthening ties in standardisation and investment promotion between the countries.

Department of Commerce’s Additional Secretary has underlined the growing partnership in trade and investment and highlighted the importance of collaboration in sectors such as e-commerce, MSME cluster development, pharmaceuticals, solar energy, and rural electrification. The third Session of the India-Uganda JTC was forward looking and both the parties have shown interest in solidifying and boosting economic partnership between the two countries.

The CNX Nifty is currently trading at 23584.75, up by 97.90 points or 0.42% after trading in a range of 23412.20 and 23626.75. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were Hero MotoCorp up by 2.52%, HDFC Life Insurance up by 2.03%, Wipro up by 1.53%, Larsen & Toubro up by 1.52% and Bajaj Finserv up by 1.51%. On the flip side, Tata Motors down by 5.56%, Sun Pharma down by 1.92%, Dr. Reddy's Lab down by 1.22%, Adani Enterprises down by 0.76% and HCL Tech down by 0.73% were the top losers.

Asian markets are trading mixed; Hang Seng advanced 217.27 points or 0.92% to 23,700.59, Straits Times rose 13.01 points or 0.33% to 3,976.72, Shanghai Composite strengthened 7.97 points or 0.24% to 3,376.67 and Jakarta Composite was up by 1.39 points or 0.02% to 6,473.75. On the flip side, KOSPI dropped 36.79 points or 1.41% to 2,607.15, Nikkei 225 slipped 227.32 points or 0.6% to 37,799.97 and Taiwan Weighted was down by 308.53 points or 1.41% to 21,951.76.