Markets continue to trade higher amid mixed global cues

Indian bourses continued to trade higher in late afternoon session amid renewed investor sentiments and continuous FII fund inflows. Sentiments remained optimistic as the FIIs were the net buyers on the fifth consecutive session and bought Rs 2,240.55 crore worth of equities on Wednesday which boosted the retail investor confidence. The market experienced some value buying as trader opted to buy heavy weight stocks at fair valuation following recent market correction. Besides, the US president Trump has stated that the new tariffs would probably be more lenient than reciprocal which raised optimism among market participant. 

On the global front, Asian markets are trading mixed amid uncertainty surrounding US trade tariffs. European markets were trading lower after US president Trump threatened to impose steeper tariffs on the European Union and Canada if they collaborate to harm the U.S. economy.

Back home, the auto and auto OEM stocks have taken a big hit amid Trumps announcement of 25% tariff on imported Automobiles and spare parts.

The BSE Sensex is currently trading at 77620.33, up by 331.83 points or 0.43% 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 and red; the BSE Mid cap index remained unchanged, while Small cap index was up by 0.51%.

The top gaining sectoral indices on the BSE were Utilities up by 0.97%, Bankex up by 0.73%, Oil & Gas up by 0.70%, Industrials up by 0.66% and  PSU up by 0.65%, while Auto down by 1.34%, Healthcare down by 0.53% and Consumer Disc down by 0.31% were the few losing indices on BSE.

The top gainers on the Sensex were Bajaj Finserv up by 2.99%, Larsen & Toubro up by 2.06%, Bajaj Finance up by 1.74%, HDFC Bank up by 1.71% and Ultratech Cement up by 1.61%. On the flip side, Tata Motors down by 5.60%, Sun Pharma Industries down by 1.99%, Eternal down by 0.98%, Mahindra & Mahindra down by 0.92% and HCL Technologies down by 0.77% were the top losers.

Meanwhile, calling for AI and data analytics in trademark searches, Union Minister of Commerce & Industry, Piyush Goyal has said that innovation is the key to India's march towards Viksit Bharat. During the National Intellectual Property Awards 2024, Goyal also highlighted the government’s commitment to strengthening India’s intellectual property (IP) ecosystem through legislative changes, administrative reforms, and new initiatives aimed at fostering innovation and research. 

Highlighting the significance of research and development (R&D), Goyal stressed that no country can claim to be developed without focusing on innovation, new ideas, and technology-driven progress. Besides, he said ‘In our Amrit Kaal, as we work towards making India a resilient economy, R&D will play a crucial role. We are moving towards becoming a powerhouse of new technologies and ideas.’

The Minister also highlighted key achievements and reforms in India’s IP landscape. He said India’s ranking in the Global Innovation Index has improved significantly, from 81 in 2015 to 39 in the latest ranking. India now has the sixth-largest trademark filings globally, with patent grants reaching approximately 100,000 last year. There has been a reduction of fees by 80% for women entrepreneurs, startups, and MSMEs to encourage greater participation in the IP ecosystem. 

Further, Goyal noted that the government has implemented digital interventions to streamline trademark applications and patent processes. The recruitment of approximately 400 new patent examiners currently undergoing training will expedite patent processing and ensure speedy grant and protection of inventions. The inauguration of a state-of-the-art IP office building in Dwarka, accommodating over 750 officers, will enhance operational efficiency.

The CNX Nifty is currently trading at 23592.75, up by 105.90 points or 0.45% after trading in a range of 23412.20 and 23626.75. There were 35 stocks advancing against 15 stocks declining on the index.

The top gainers on Nifty were Bajaj Finserv up by 3.09%, Hero MotoCorp up by 3.06%, HDFC Life Insurance up by 1.98%, Larsen & Toubro up by 1.97% and Bajaj Finance up by 1.91%. On the flip side, Tata Motors down by 5.49%, Sun Pharma Industries down by 1.98%, Eternal down by 1.03%, Dr. Reddy's Laboratories down by 1.00% and Mahindra & Mahindra down by 1.00% were the top losers.

Asian markets are trading mixed; Hang Seng advanced 95.48 points or 0.4% to 23,578.80, Jakarta Composite gained 14.82 points or 0.23% to 6,487.18, Straits Times rose 17.58 points or 0.44% to 3,981.29 and Shanghai Composite strengthened 5.05 points or 0.15% to 3,373.75, while 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 lost 308.53 points or 1.41% to 21,951.76.

European markets were trading lower; UK’s FTSE 100 decreased 55.63 points or 0.64% to 8,633.96, France’s CAC fell 57.56 points or 0.72% to 7,973.12 and Germany’s DAX lost 247.87 points or 1.09% to 22,591.16.