Bourses extend gains in early afternoon session

Indian markets extended their gains in early afternoon session amid monthly F&O contracts expiry scheduled for today.  Sentiments remained positive with easing geopolitical tensions. Traders continued to get support as rating agency Icra in its Macro Update June 2025 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. Besides, Indian government has disbursed Rs 21,534 crore under Production-Linked Incentive (PLI) schemes so far for 12 sectors, including electronics and pharma. On the global front, Asian markets were trading mixed after US stocks hung near their all-time high as financial markets caught their breath following recent bouts of volatility.

The BSE Sensex is currently trading at 83286.77, up by 531.26 points or 0.64% 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 mixed; the BSE Mid cap index gained 0.08%, while Small cap index was down by 0.07%.

The top gaining sectoral indices on the BSE were Oil & Gas up by 0.86%, Energy up by 0.76%, Bankex up by 0.60%, Power up by 0.44% and Metal up by 0.43%, while Realty down by 1.88%, Consumer discretionary down by 0.11%, IT down by 0.08% and Healthcare was down by 0.03% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 2.24%, Adani Ports up by 1.56%, Axis Bank up by 1.44%, Eternal up by 1.39% and HDFC Bank up by 1.28%. On the flip side, Sun Pharma down by 0.87%, SBI down by 0.68%, Trent down by 0.58%, Mahindra & Mahindra down by 0.49% and Tech Mahindra down by 0.37% were the top losers.

Meanwhile, Services Export Promotion Council (SEPC) and the Internet and Mobile Association of India (IAMAI) have signed a Memorandum of Understanding (MoU) to promote India's digital services exports and strengthen the global presence of Indian digital businesses. 

The partnership will promote international market access, address trade-related policy challenges, and build export readiness for India's emerging digital sectors. The collaboration aims to align institutional efforts in shaping India's leadership in global digital trade. The MoU envisions the establishment of joint working groups with government ministries and regulators concerned to address trade-related bottlenecks faced by digital services exporters.

SEPC has been set up by the Ministry of Commerce and Industry. SEPC Director General Abhay Sinha said ‘India's digital sector holds immense potential in the global services economy. Through this partnership with IAMAI, we aim to create meaningful opportunities for digital enterprises to grow their international footprint and benefit from structured policy and trade support.’

The CNX Nifty is currently trading at 25393.55, up by 148.80 points or 0.59% after trading in a range of 25259.90 and 25437.90. There were 32 stocks advancing against 18 stocks declining on the index.

The top gainers on Nifty were JIO Financial up by 2.34%, Bajaj Finance up by 2.21%, Axis Bank up by 1.49%, Shriram Finance up by 1.43% and Adani Ports up by 1.42%. On the flip side, Dr. Reddy's Lab down by 1.84%, Hero MotoCorp down by 0.94%, Sun Pharma down by 0.73%, SBI down by 0.69% and Eicher Motors down by 0.59% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 642.51 points or 1.62% to 39,584.58, Taiwan Weighted added 61.73 points or 0.27% to 22,492.34, Jakarta Composite gained 20.29 points or 0.3% to 6,852.43 and Straits Times was up by 5.08 points or 0.13% to 3,931.06. On the flip side, Shanghai Composite weakened 6.92 points or 0.2% to 3,449.05, KOSPI dropped 28.69 points or 0.93% to 3,079.56 and Hang Seng was down by 188.45 points or 0.78% to 24,286.22.