Bourses remain flat in early afternoon session

Indian markets traded flat with a negative bias in early afternoon session amid escalating tensions between Iran and Israel and fluctuating crude oil prices. Traders were cautious as the minutes of the Reserve Bank of India Monetary Policy Committee’s (MPC) meeting will be published by tomorrow. Investors took note of report that rating agency ICRA has said that India's Consumer Price Index (CPI) is expected to be above 3.5 per cent, while the Wholesale Price Index (WPI) will be over 1.8 per cent for the current fiscal (FY26). It said India’s real GDP (Gross Domestic Product) growth for 2025-26 will be 6.2 per cent, down from 6.5 per cent in the preceding financial year. Real Gross Value Added (GVA) growth is also expected to ease to 6 per cent from 6.4 per cent. On the global front, Asian markets were trading mostly in red as the U.S. Federal Reserve flagged stagflation concerns and the conflict between Israel and Iran entered its seventh day.

The BSE Sensex is currently trading at 81427.03, down by 17.63 points or 0.02% after trading in a range of 81191.04 and 81583.94. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 1.10%, while Small cap index was down by 1.19%.

The only gaining sectoral index on the BSE was Auto up by 0.48%, while IT down by 1.18%, PSU down by 1.07%, Utilities down by 0.94%, Realty down by 0.93% and Metal was down by 0.90% were the top losing indices on BSE.

The top gainers on the Sensex were Titan Company up by 1.25%, Mahindra & Mahindra up by 1.09%, Kotak Mahindra Bank up by 0.93%, Larsen & Toubro up by 0.53% and Eternal up by 0.52%. On the flip side, Adani Ports down by 2.02%, Bajaj Finance down by 1.39%, Tech Mahindra down by 1.39%, Infosys down by 0.97% and TCS down by 0.86% were the top losers.

Meanwhile, helped by significant improvement in energy efficiency and investment capacity, India has been ranked 71st on a global Energy Transition Index released by the World Economic Forum (WEF). Sweden topped the list of 118 countries, followed by Finland, Denmark, Norway and Switzerland in the top five. China was ranked 12th, the US was 17th and Pakistan at 101st place. Congo was ranked lowest. 

While India's rank has fallen from 63rd last year, the WEF said India and China experienced the greatest overall improvement among large economies, especially in increasing access to energy and strengthening transition readiness. It said the top five largest economies China, the US, EU, Japan and India will ultimately determine the pace and direction of the global energy transition due to their sheer size. It said together, they account for around half of the global GDP, population and total energy supply (TES), and also nearly two-thirds of global emissions, giving them an outsized influence through their consumption patterns, investment flows and policy choices.

It further said over the past decade, India has made significant strides in increasing equity through greater access to energy and clean fuels, while also improving energy regulations and investment in renewable and other clean-energy technologies. It said that continued improvement in grid reliability, energy access for rural areas and further reducing dependence on imported energy may enable further progress in energy security and equity. Further investment in infrastructure, renewables, labour force development and financing conditions could help boost the country's energy transition. It added that India also made progress in lowering energy intensity and CH4 emissions, creating more favourable energy regulations and increasing clean energy investments.  

The CNX Nifty is currently trading at 24810.20, down by 1.85 points or 0.01% after trading in a range of 24738.10 and 24863.10. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were Tata Consumer up by 2.21%, Eicher Motors up by 1.85%, Titan Company up by 1.48%, Dr. Reddy's Lab up by 1.11% and Wipro up by 1.08%. On the flip side, Adani Ports down by 2.05%, HDFC Life Insurance down by 1.46%, Bajaj Finance down by 1.41%, Tech Mahindra down by 1.34% and Indusind Bank down by 1.20% were the top losers.

Asian markets were trading mostly in red; Hang Seng declined 512.38 points or 2.21% to 23,198.31, Nikkei 225 slipped 396.81 points or 1.03% to 38,488.34, Taiwan Weighted lost 353.23 points or 1.61% to 22,003.50, Jakarta Composite plunged 127.88 points or 1.83% to 6,979.91, Shanghai Composite weakened 29.68 points or 0.88% to 3,359.13 and Straits Times was down by 15.86 points or 0.41% to 3,904.95. On the flip side, KOSPI was up by 5.55 points or 0.19% to 2,977.74.