Post Session: Quick Review

Indian equity benchmarks extended their upward momentum for the 4th straight session on Monday, supported by rally in IT and Banking stocks. Markets made an optimistic start and hovered near the day’s high point throughout the session, as Foreign Institutional Investors (FIIs) turned buyers on Friday. They bought equities worth Rs 1,009.71 crore. Sentiment remained upbeat following a private report stated that the Reserve Bank of India (RBI) is expected to hold interest rates in August but possibly make yet another reduction later this year, following its greater-than-expected cut on June 06 aimed at bolstering growth.

Some of the important factors in today’s trade:

India's extreme poverty rate declines sharply to 5.3% in 2022-23: Sentiments remained upbeat as India's extreme poverty rate declined sharply to 5.3 per cent over a decade from 27.1 per cent in 2011-12 even as the World Bank revised upwards its threshold poverty line to $3 per day. 

India’s FDI success is reflection of reforms, trust, investor-friendly policies: Some support also came with Commerce and Industry Minister Piyush Goyal’s statement that India is receiving FDI inflows from 112 countries compared to 89 in 2013-14, underscoring the country's rising global appeal. 

Trade pact between India, US to provide greater market access: Some support came with report that the proposed trade agreement between India and the US would provide greater market access for goods by reducing tariffs, cutting trade barriers, and improving supply chain integration. 

Global front: European markets were trading in red as France's industrial production declined for the first time in three months in April. Asian markets ended mostly in green amid hopes that another round of U.S.-China trade talks that will take place in London later today could help ease trade tensions between the two superpowers. 

The BSE Sensex ended at 82445.21, up by 256.22 points or 0.31% after trading in a range of 82369.24 and 82669.00. There were 22 stocks advancing against 8 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index was up by 1.03%, while Small cap index up by 1.19%. (Provisional)

The top gaining sectoral indices on the BSE were Utilities up by 1.65%, Power up by 1.43%, Oil & Gas up by 1.12%, PSU up by 1.07% and IT up by 1.02%, while Realty down by 0.11% was the only losing index on BSE. (Provisional)

The top gainers on the Sensex were Kotak Mahindra Bank up by 3.24%, Bajaj Finance up by 2.55%, Trent up by 2.43%, Axis Bank up by 2.04% and Bajaj Finserv up by 1.59%. On the flip side, Eternal down by 1.87%, ICICI Bank down by 1.70%, Titan Company down by 0.77%, Mahindra & Mahindra down by 0.60% and Adani Ports and Special Economic Zone down by 0.36% were the top losers. (Provisional)

Meanwhile, the government has said that India's agricultural sector has undergone a profound transformation over the past 11 years through various government schemes and increased budgetary allocations, empowering farmers to lead the nation from food security to global food leadership. The transformation has focused on inclusivity by supporting small farmers, women-led groups and allied sectors while positioning India as a global agricultural leader.

Further, it stated budget estimates for the Department of Agriculture and Farmers' Welfare have risen from Rs 27,663 crore in 2013-14 to Rs 1,37,664.35 crore in 2024-25, an increase of nearly five times. India's foodgrain production grew from 265.05 million tonnes in 2014-15 to an estimated 347.44 million tonnes in 2024-25, showing strong growth in agricultural output.

Besides, the government has also increased minimum support prices (MSP) significantly. MSP for wheat rose from Rs 1,400 per quintal in 2013-14 to Rs 2,425 per quintal in 2024-25, while paddy prices increased from Rs 1,310 per quintal in 2013-14 to Rs 2,369 per quintal in 2025-26. Moreover, under the PM-KISAN scheme launched in February 2019, the government has disbursed Rs 3.7 lakh crore to more than 110 million farmers. The Kisan Credit Card scheme has provided about Rs 10 lakh crore in credit to 7.71 crore farmers.

The CNX Nifty is currently trading at 25103.20, up by 100.15 points or 0.40% after trading in a range of 25077.15 and 25160.10. There were 40 stocks advancing against 10 stocks declining on the index. (Provisional)

The top gainers on Nifty were JIO Financial Services up by 3.49%, Kotak Mahindra Bank up by 3.20%, Bajaj Finance up by 2.69%, Trent up by 2.51% and Axis Bank up by 2.17%. On the flip side, Eternal down by 1.86%, ICICI Bank down by 1.75%, Titan Company down by 0.76%, Mahindra & Mahindra down by 0.61% and Adani Ports and Special Economic Zone down by 0.32% were the top losers. (Provisional) 

European markets were trading lower; Germany’s DAX lost 123 points or 0.51% to 24,181.46, UK’s FTSE 100 decreased 10.39 points or 0.12% to 8,827.52 and France’s CAC fell 2.48 points or 0.03% to 7,802.39.

Asian markets settled higher on Monday amid hopes that another round of US-China trade talks that will take place in London later in the day could help ease trade tensions between the world’s two largest economies. Chinese and Hong Kong shares gained after investors digested key inflation and trade data from China. Consumer price inflation in China eased in May but declined less than forecast, and the producer price index fell more sharply than expected. While China's exports growth missed expectations in May, dragged down by a sharp decline in shipments to the US. Japanese shares rose after the country reported progress in its fifth round of trade talks with the United States and revised data showed the economy contracted slightly less than initially estimated in the first quarter.