Markets add more points in late morning deals

Domestic equity indices added more points in late morning deals as market participants indulged in enlarging their positions. There was broad based buying witnessed in the markets and apart from the blue chips, the broader markets also participated in the rally. Hectic buying in Tata Steel, Kotak Mahindra Bank, Bajaj Finserv, Power Grid and NTPC companies’ stocks supported the markets to added more points. Sentiments were improved after U.S. President Donald Trump announced a tariff U-turn, dropping the new reciprocal tariff rates on imports from most countries for 90 days. Traders were also getting encouragement as India and Russia have agreed on six new strategic projects aimed at enhancing bilateral investment cooperation during the eighth Session of the India-Russia Working Group on Priority Investment Projects.

On the global front, Asian markets were trading mixed amid the ongoing concerns about rising global trade tensions, particularly between the U.S. and China. Back home, all the sectoral indices on the BSE were trading in green led by Metal, Basic Materials, Consumer Durables, Utilities and Power. 

The BSE Sensex is currently trading at 75222.70, up by 1375.55 points or 1.86% after trading in a range of 74762.84 and 75319.35. There were 28 stocks advancing against 2 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 1.74%, while Small cap index up by 2.49%.

The top gaining sectoral indices on the BSE were Metal up by 4.02%, Basic Materials up by 3.04%, Consumer Durables up by 2.52%, Utilities up by 2.50% and Power up by 2.33%, while there were no losers.  

The top gainers on the Sensex were Tata Steel up by 4.68%, Kotak Mahindra Bank up by 3.92%, Bajaj Finserv up by 3.51%, Power Grid up by 3.20% and NTPC up by 2.95%. On the flip side, Asian Paints down by 0.82% and Nestle down by 0.81% were the only losers.

Meanwhile, strengthening economic ties, India and Russia have agreed on six new strategic projects aimed at enhancing bilateral investment cooperation during the eighth Session of the India-Russia Working Group on Priority Investment Projects. The session held in New Delhi was conducted under the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation with an emphasis on advancing collaborative projects in sectors of mutual interest. Meanwhile, the co-chairs of the session signed a protocol highlighting these projects and also reviewed the outcomes of the previous seventh session. During the session, both parties discussed initiatives to strengthen economic ties and affirmed their commitment to expanding investment collaboration.

The session was followed by the second edition of the India-Russia Investment Forum which was organised in collaboration with Invest India, the Indian Chamber of Commerce (ICC), and the Ministry of Economic Development of the Russian Federation. The forum saw active participation from over 80 businesses, including entrepreneurs, business chambers, financial institutions, cargo companies and officials from both countries. 

Russia being a longstanding and reliable partner for India, the development of India-Russia relations has remained a key pillar of India's foreign policy. In October 2000, both countries inked ‘Declaration on the India-Russia Strategic Partnership’, which led to greater level of cooperation in almost all areas, including political, security, defence, trade and economy, science & technology, culture, and people-to-people ties. Meanwhile, during Russian President’s visit to India in December 2010, India and Russia elevated their Strategic Partnership level to ‘Special and Privileged Strategic Partnership’.

The CNX Nifty is currently trading at 22857.10, up by 457.95 points or 2.04% after trading in a range of 22695.40 and 22874.45. There were 47 stocks advancing against 3 stocks declining on the index.

The top gainers on Nifty were Hindalco up by 5.18%, Tata Steel up by 4.59%, JSW Steel up by 4.46%, Trent up by 4.22% and Kotak Mahindra Bank up by 4.16%. On the flip side, Asian Paints down by 0.98%, Nestle down by 0.85% and Apollo Hospital down by 0.39% were the few losers.

Asian markets were trading mixed; Hang Seng advanced 315.53 points or 1.5% to 20,997.31, Jakarta Composite gained 13.69 points or 0.22% to 6,267.71, Shanghai Composite strengthened 18.07 points or 0.56% to 3,241.71 and Taiwan Weighted added 528.74 points or 2.71% to 19,528.77. However, Straits Times fell 63.28 points or 1.8% to 3,514.55, KOSPI dropped 17.82 points or 0.73% to 2,427.24 and Nikkei 225 slipped 1162.91 points or 3.48% to 33,446.09. 

Domestic equity indices added more points in late morning deals as market participants indulged in enlarging their positions. There was broad based buying witnessed in the markets and apart from the blue chips, the broader markets also participated in the rally. Hectic buying in Tata Steel, Kotak Mahindra Bank, Bajaj Finserv, Power Grid and NTPC companies’ stocks supported the markets to added more points. Sentiments were improved after U.S. President Donald Trump announced a tariff U-turn, dropping the new reciprocal tariff rates on imports from most countries for 90 days. Traders were also getting encouragement as India and Russia have agreed on six new strategic projects aimed at enhancing bilateral investment cooperation during the eighth Session of the India-Russia Working Group on Priority Investment Projects.

On the global front, Asian markets were trading mixed amid the ongoing concerns about rising global trade tensions, particularly between the U.S. and China. Back home, all the sectoral indices on the BSE were trading in green led by Metal, Basic Materials, Consumer Durables, Utilities and Power. 

The BSE Sensex is currently trading at 75222.70, up by 1375.55 points or 1.86% after trading in a range of 74762.84 and 75319.35. There were 28 stocks advancing against 2 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 1.74%, while Small cap index up by 2.49%.

The top gaining sectoral indices on the BSE were Metal up by 4.02%, Basic Materials up by 3.04%, Consumer Durables up by 2.52%, Utilities up by 2.50% and Power up by 2.33%, while there were no losers.  

The top gainers on the Sensex were Tata Steel up by 4.68%, Kotak Mahindra Bank up by 3.92%, Bajaj Finserv up by 3.51%, Power Grid up by 3.20% and NTPC up by 2.95%. On the flip side, Asian Paints down by 0.82% and Nestle down by 0.81% were the only losers.

Meanwhile, strengthening economic ties, India and Russia have agreed on six new strategic projects aimed at enhancing bilateral investment cooperation during the eighth Session of the India-Russia Working Group on Priority Investment Projects. The session held in New Delhi was conducted under the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation with an emphasis on advancing collaborative projects in sectors of mutual interest. Meanwhile, the co-chairs of the session signed a protocol highlighting these projects and also reviewed the outcomes of the previous seventh session. During the session, both parties discussed initiatives to strengthen economic ties and affirmed their commitment to expanding investment collaboration.

The session was followed by the second edition of the India-Russia Investment Forum which was organised in collaboration with Invest India, the Indian Chamber of Commerce (ICC), and the Ministry of Economic Development of the Russian Federation. The forum saw active participation from over 80 businesses, including entrepreneurs, business chambers, financial institutions, cargo companies and officials from both countries. 

Russia being a longstanding and reliable partner for India, the development of India-Russia relations has remained a key pillar of India's foreign policy. In October 2000, both countries inked ‘Declaration on the India-Russia Strategic Partnership’, which led to greater level of cooperation in almost all areas, including political, security, defence, trade and economy, science & technology, culture, and people-to-people ties. Meanwhile, during Russian President’s visit to India in December 2010, India and Russia elevated their Strategic Partnership level to ‘Special and Privileged Strategic Partnership’.

The CNX Nifty is currently trading at 22857.10, up by 457.95 points or 2.04% after trading in a range of 22695.40 and 22874.45. There were 47 stocks advancing against 3 stocks declining on the index.

The top gainers on Nifty were Hindalco up by 5.18%, Tata Steel up by 4.59%, JSW Steel up by 4.46%, Trent up by 4.22% and Kotak Mahindra Bank up by 4.16%. On the flip side, Asian Paints down by 0.98%, Nestle down by 0.85% and Apollo Hospital down by 0.39% were the few losers.

Asian markets were trading mixed; Hang Seng advanced 315.53 points or 1.5% to 20,997.31, Jakarta Composite gained 13.69 points or 0.22% to 6,267.71, Shanghai Composite strengthened 18.07 points or 0.56% to 3,241.71 and Taiwan Weighted added 528.74 points or 2.71% to 19,528.77. However, Straits Times fell 63.28 points or 1.8% to 3,514.55, KOSPI dropped 17.82 points or 0.73% to 2,427.24 and Nikkei 225 slipped 1162.91 points or 3.48% to 33,446.09.