Key gauges remain in green in morning deals

Indian equity benchmarks continued to trade in green in morning deals, tracking gains in Asian markets amid sustained optimism over a potential Israel-Iran ceasefire. Some support also came as rating agency Icra has retained India's Gross Domestic Product (GDP) growth forecast for fiscal 2025-26 (FY2026) at 6.2 per cent, assuming well-distributed monsoons and crude oil prices averaging around $70/barrel. However, gains remain capped as some concern came with provisional exchange data showed Foreign institutional investors (FIIs) recorded a net outflow of Rs 2,427.74 crore in Indian equities on Wednesday, marking the third consecutive session of selling. So far in June, FIIs have withdrawn a total of Rs 3,243.18 crore from Indian equities. On the global front, Asian markets are trading mostly in green, bolstered by Japanese stocks after a flat session on Wall Street as traders assessed simmering economic and geopolitical risks.

The BSE Sensex is currently trading at 83152.62, up by 397.11 points or 0.48% after trading in a range of 82816.26 and 83380.98. There were 21 stocks advancing against 9 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.07%, while Small cap index was down by 0.03%.

The top gaining sectoral indices on the BSE were Oil & Gas up by 1.08%, Energy up by 0.94%, Metal up by 0.85%, Telecom up by 0.73% and Basic Materials up by 0.65%, while Realty down by 1.55%, IT down by 0.46%, Consumer Disc down by 0.16% and Auto down by 0.09% were the top losing indices on BSE.

The top gainers on the Sensex were Bharti Airtel up by 1.84%, Ultratech Cement up by 1.69%, Bajaj Finance up by 1.57%, Eternal up by 1.29% and Tata Steel up by 1.28%. On the flip side, Trent down by 0.91%, TCS down by 0.65%, Tech Mahindra down by 0.56%, Infosys down by 0.48% and SBI down by 0.42% were the top losers.

Meanwhile, an article in the Reserve Bank of Indian (RBI) June Bulletin has said that amid global uncertainties, various high-frequency indicators for May 2025 point towards resilient economic activity in India across the industrial and services sectors. It said the global economy is in a state of flux, reeling from the twin shocks of trade policy uncertainties and a spike in geopolitical tensions.

It noted that agriculture showed a broad-based increase in production across most major crops during 2024-25. Also, the domestic price situation remains benign, with headline inflation staying below the target for the fourth consecutive month in May. 

It stated financial conditions too remained conducive to facilitate an efficient transmission of rate cuts to the credit market. The central bank said the views expressed in the bulletin article are those of the authors and do not represent the views of the Reserve Bank of India.

The CNX Nifty is currently trading at 25362.30, up by 117.55 points or 0.47% after trading in a range of 25259.90 and 25437.90. There were 37 stocks advancing against 12 stocks declining on the index.

The top gainers on Nifty were JIO Financial Services up by 2.70%, Bajaj Finance up by 1.72%, Bharti Airtel up by 1.68%, HDFC Life Insurance up by 1.43% and Ultratech Cement up by 1.43%. On the flip side, Dr. Reddy's Lab down by 1.34%, Hero MotoCorp down by 1.01%, Trent down by 0.96%, Tech Mahindra down by 0.62% and TCS down by 0.59% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 556.14 points or 1.43% to 39,498.21, Taiwan Weighted added 70.51 points or 0.31% to 22,501.12, Straits Times rose 8.21 points or 0.21% to 3,934.19, Jakarta Composite gained 11.04 points or 0.16% to 6,843.18 and Shanghai Composite strengthened 3.69 points or 0.11% to 3,459.66.

On the flip side, Hang Seng declined 117.11 points or 0.48% to 24,357.56 and KOSPI dropped 37.15 points or 1.2% to 3,071.10.