Post Session: Quick Review

Indian equity benchmarks closed higher on Wednesday amid positive cues from Asian markets. After making a positive start, indices soon gained momentum and touched intraday highs, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a ‘framework’ to move forward on trade, following two days of high-level talks in London. Some support also came with foreign institutional investors (FIIs) purchasing equities worth Rs 2,301.87 crore on a net basis on Tuesday. However, in the afternoon session, markets came off from day’s high points as investors booked some profit but markets managed to end in green. Some cautiousness came as the World Bank pegged India’s economic growth projection at a lower level of 6.3 per cent for 2025-26 due to pressure on exports emanating from global uncertainties.

Some of the important factors in today’s trade:

India, EU Very Near to finalizing free trade agreement: Some support came as Commerce and Industry Minister Piyush Goyal said that India and the 27-nation EU bloc are really very near to concluding talks for the proposed free trade agreement, with only a few issues left to be resolved.

India-US trade pact to provide opportunity to expand economic ties: Sentiments remained upbeat as 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. 

Jaishankar holds productive India-EU strategic dialogue in Brussels: Traders took note of External Affairs Minister S Jaishankar held very open and productive talks with the European Union's High Representative in Brussels, covering areas of defence and security, maritime security, cyber and space. 

Global front: European markets were trading in green, as Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany. Asian markets ended mostly in green after top U.S. and Chinese officials said they have reached a framework to implement the Geneva consensus, following two days of discussions in London.

The BSE Sensex ended at 82515.14, up by 123.42 points or 0.15% after trading in a range of 82308.91 and 82783.51. There were 15 stocks advancing against 15 stocks declining on the index. (Provisional)

The broader indices ended mixed; the BSE Mid cap index was down by 0.12%, while Small cap index up by 0.06%. (Provisional)

The top gaining sectoral indices on the BSE were Oil & Gas up by 1.83%, Energy up by 1.33%, IT up by 1.25%, TECK up by 1.01% and Healthcare up by 0.74%, while Power down by 0.81%, Utilities down by 0.76%, FMCG down by 0.56%, Industrials down by 0.43% and Capital Goods down by 0.42% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were HCL Technologies up by 3.13%, Infosys up by 1.99%, Tech Mahindra up by 1.74%, Bajaj Finserv up by 0.68% and Reliance Industries up by 0.65%. On the flip side, Power Grid Corp down by 1.91%, Bharat Electronics down by 1.27%, Adani Ports and Special Economic Zone down by 1.00%, HDFC Bank down by 0.96% and Hindustan Unilever down by 0.83% were the top losers. (Provisional)

Meanwhile, highlighting India’s transformative growth story and vast opportunities for collaboration, Union Minister of Commerce and Industry, Piyush Goyal has invited the Swiss business community to be active partners in India’s journey towards becoming a $30-35 trillion economy by 2047. In a symbolic gesture of partnership, Minister proposed the creation of a dedicated Swiss Enclave in India - a zone tailored for Swiss businesses - to provide comfort and a sense of home for Swiss enterprises looking to establish a base in India.

Goyal further highlighted India’s remarkable transformation - from a $270 billion economy 30 years ago to a $4 trillion economy today - and its ambition to grow further to $30-35 trillion as the nation approaches 100 years of independence. He noted India’s youthful demographic with an average age of 28.4 years and emphasized that the nation will continue to remain young and vibrant for decades to come. Goyal underlined the advantages of India as a trusted, rule-of-law-based, and democratic country where Swiss businesses can operate without fear of discrimination. He said ‘Democracy, demographic dividend, decisive leadership, and diversity make India a dependable partner.’

Besides, referring to the India-EFTA Trade and Economic Partnership Agreement (TEPA), Goyal termed it a ‘Trust and Efficiency Partnership’ - a relationship built on mutual confidence and complementarity. He expressed optimism that this partnership would mark the beginning of a new era of cooperation between India and the four EFTA nations, opening new avenues for trade, investment, and innovation.

The CNX Nifty ended at 25141.40, up by 37.15 points or 0.15% after trading in a range of 25081.30 and 25222.40. There were 28 stocks advancing against 22 stocks declining on the index. (Provisional)

The top gainers on Nifty were HCL Technologies up by 3.23%, Infosys up by 2.20%, Tech Mahindra up by 1.65%, Wipro up by 1.59% and ONGC up by 1.08%. On the flip side, Shriram Finance down by 2.05%, Power Grid Corp down by 1.86%, Adani Enterprises down by 1.22%, Adani Ports and Special Economic Zone down by 1.18% and Bharat Electronics down by 1.13% were the top losers. (Provisional)

European markets were trading higher; France’s CAC rose 17.98 points or 0.23% to 7,822.31, UK’s FTSE 100 increased 3.84 points or 0.04% to 8,856.92 and Germany’s DAX gained 53.37 points or 0.22% to 24,040.93.

Asian markets settled mostly higher on Wednesday, tracking Wall Street’s gains overnight, after top US and Chinese officials said they have reached a framework to implement the Geneva consensus. Meanwhile investors were awaiting the release of US consumer inflation data later in the day for direction. Japanese shares gained after new data from the Bank of Japan showed wholesale inflation slowed in May, easing pressure on the central bank to raise interest rates in its next policy board meeting. Chinese shares rose with automakers rising after pledging to shorten payment terms for suppliers. Seoul shares rallied after South Korean President Lee Jae-myung said the government was preparing to revamp the country's tax system as part of a broader push to make the domestic stock market more attractive.