Domestic indices add more points in late morning deals

Domestic equity indices added more points and were trading higher by over quarter percent in late morning deals on account of buying in Reliance Industries, Mahindra & Mahindra, Bajaj Finserv, Ultratech Cement and NTPC companies’ stocks. Meanwhile, broader indices were also trading in green with BSE Mid cap index and Small cap index gaining in the range of 0.15-0.35 percent.  Sentiments were upbeat as foreign institutional investors (FIIs) had purchased equities worth Rs 2,301.87 crore on a net basis on Tuesday, according to exchange data. Sentiments were further supported by Indian rupee appreciating 13 paise to 85.44 against the dollar at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks.  Besides, positive cues from the global markets supported domestic sentiments. On the BSE sectoral front, traders were seen pilling up positions in Oil & Gas, Energy, Telecom, Realty and Auto, while selling was witnessed in Consumer Durables, FMCG, Capital Goods, Industrials and Power.

On the global front, Asian markets were trading mostly in green, following positive cues from the US markets overnight, on optimism over progress in U.S.-China trade talks. Back home, shares of hard liquor manufacturers like United Spirits, Radico Khaitan were trading lower after the Maharashtra government increased its duty on Indian Made Foreign Liquor (IMFL) by 50% - 60%. This applies to both retail purchase from a liquor store and consumption in a restaurant or bar. However, GM Breweries and Sula Vineyards surged as wine and beer were excluded from the duty hikes.

The BSE Sensex is currently trading at 82685.63, up by 293.91 points or 0.36% after trading in a range of 82308.91 and 82710.41. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.17%, while Small cap index up by 0.34%.

The top gaining sectoral indices on the BSE were Oil & Gas up by 1.91%, Energy up by 1.70%, Telecom up by 0.53%, Realty up by 0.51% and Auto up by 0.50%, while Consumer Durables down by 0.27%, FMCG down by 0.25%, Capital Goods down by 0.13%, Industrials down by 0.09% and Power down by 0.07% were the top losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 1.54%, Mahindra & Mahindra up by 1.07%, Bajaj Finserv up by 1.04%, Ultratech Cement up by 0.93% and NTPC up by 0.84%. On the flip side, Power Grid down by 0.71%, Maruti Suzuki down by 0.57%, Adani Ports down by 0.57%, HDFC Bank down by 0.30% and Bharat Electronics down by 0.25% were the top losers.

Meanwhile, Commerce and Industry Minister Piyush Goyal has said that the proposed bilateral trade agreement between India and the US will provide both the countries with an opportunity to expand and strengthen trade ties. He stated ‘We believe it’s an opportunity for us to expand our bilateral trade and strengthen our partnership.’

Moreover, he said that both America and India are close friends, allies and strategic partners. He said the US is India’s largest bilateral trading partner, and is a home to millions of persons of Indian origin. India and the US share very, very strong ties, whether in the world of business or geopolitically.

Further, he said ‘We are negotiating to make a nice, fair, equitable and balanced agreement to promote business.’ It is aimed at more than doubling the bilateral trade to $500 billion by 2030 from the current level of $191 billion. In February, US President Donald Trump and Prime Minister Narendra Modi announced plans to negotiate the first tranche or phase of a mutually beneficial multi-sector Bilateral Trade Agreement (BTA) by fall (September-October) of 2025.

The CNX Nifty is currently trading at 25193.05, up by 88.80 points or 0.35% after trading in a range of 25081.30 and 25203.95. There were 32 stocks advancing against 18 stocks declining on the index.

The top gainers on Nifty were Hero MotoCorp up by 1.93%, Reliance Industries up by 1.62%, Coal India up by 1.61%, ONGC up by 1.26% and Bajaj Auto up by 1.21%. On the flip side, Shriram Finance down by 1.06%, JIO Financial down by 0.76%, Power Grid down by 0.65%, Tata Consumer down by 0.54% and Adani Ports down by 0.51% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 254.61 points or 1.05% to 24,417.48, Shanghai Composite strengthened 21.79 points or 0.64% to 3,406.61, KOSPI increased 33.02 points or 1.15% to 2,904.87, Nikkei 225 surged 234.77 points or 0.61% to 38,446.28 and Taiwan Weighted added 155.22 points or 0.7% to 22,397.36. However, Jakarta Composite plunged 30.87 points or 0.43% to 7,199.88 and Straits Times fell 19.57 points or 0.5% to 3,914.23.