Benchmarks continue firm trade in morning session

Indian equity benchmarks continued their firm trade in morning session on account of buying in frontline blue chip counters. Traders took support as data with the depositories showed foreign investors have infused nearly Rs 8,500 crore in the country's equity markets last week, after a phase of heavy outflows earlier in the month, supported by renewed investor confidence, resilient domestic economy and relative insulation from global trade disruptions. Some support also came with Reserve Bank of India (RBI) Governor Sanjay Malhotra’s statement that the central bank will continuously monitor the rapidly evolving global situation and remain 'agile and proactive' in its policy actions. Sector-wise, auto stocks remained in watch as Society of Indian Automobile Manufacturers (SIAM) stated that automobile exports from India rose by 19 per cent to over 53 lakh units in the last 2024-25 fiscal year driven by robust demand for passenger vehicles, two wheelers and commercial vehicles in the overseas markets. On the global front, Asian markets are trading mostly in red as China’s central bank held rates at a time when the yuan has come under pressure due to Beijing-Washington trade tensions.

The BSE Sensex is currently trading at 79188.97, up by 635.77 points or 0.81% after trading in a range of 78776.06 and 79260.64. There were 23 stocks advancing against 7 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 1.48%, while Small cap index was up by 1.03%.

The top gaining sectoral indices on the BSE were PSU up by 1.97%, Power up by 1.96%, Utilities up by 1.93%, Oil & Gas up by 1.92% and IT up by 1.74%, while FMCG down by 0.64% was the lone losing index on BSE.

The top gainers on the Sensex were Indusind Bank up by 5.25%, Tech Mahindra up by 4.12%, SBI up by 3.14%, Axis Bank up by 2.88% and Bajaj Finserv up by 2.22%. On the flip side, Adani Ports &SEZ down by 2.03%, ITC down by 1.22%, Hindustan Unilever down by 0.99%, Asian Paints down by 0.59% and Bharti Airtel down by 0.52% were the top losers.

Meanwhile, Reserve Bank of India (RBI) Governor Sanjay Malhotra has said that India’s financial markets must play a crucial role if the country is to successfully navigate global challenges and achieve its long-term aspirations. He underlined the growing importance of financial markets as key enablers of economic growth. He stated ‘If India is to navigate the shifting tides and fulfil its aspirations, financial markets will have to play a crucial role. As the marketplace for raising capital and trading financial assets, financial markets are key enablers of economic growth.’ 

He also pointed out that financial markets have existed for centuries and have continued to evolve over time to meet the needs of changing economies. Moreover, he highlighted the progress India has made in building strong and efficient financial markets. He said ‘We have made significant strides in the development of financial markets in our country. Motivated to fulfil the nation’s evolving needs and aspirations and guided by learnings from successive crises, our markets have matured and advanced.’ 

He noted that India’s financial market infrastructure is now state-of-the-art and its transparency standards are comparable to the best in the world. he added markets such as government securities, foreign exchange, and key derivatives are highly liquid - not just compared to peer economies but also to several advanced countries.

The CNX Nifty is currently trading at 24057.40, up by 205.75 points or 0.86% after trading in a range of 23903.65 and 24061.45. There were 40 stocks advancing against 10 stocks declining on the index.

The top gainers on Nifty were Indusind Bank up by 5.19%, Tech Mahindra up by 4.09%, SBI up by 3.09%, Axis Bank up by 2.91% and Trent up by 2.52%. On the flip side, Adani Ports &SEZ down by 1.94%, HDFC Life Insurance down by 1.35%, ITC down by 1.23%, Hindustan Unilever down by 0.99% and Bharti Airtel down by 0.54% were the top losers.

Asian markets are trading mostly in red; Nikkei 225 slipped 440.24 points or 1.27% to 34,290.04, Taiwan Weighted lost 268.32 points or 1.38% to 19,126.71, KOSPI dropped 0.11 points or 0% to 2,483.31 and Jakarta Composite plunged 17.24 points or 0.27% to 6,421.03.

On the global front, Shanghai Composite strengthened 9.71 points or 0.3% to 3,286.44 and Straits Times rose 38.28 points or 1.03% to 3,758.61.