Indian equity benchmarks extended losses in morning deals, dragged by foreign fund outflows and a muted start to the earnings season. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,694.31 crore on Thursday, according to exchange data. Some concern also came as ratings firm CRISIL in its latest report stated that India's goods exports are likely to face some headwinds in fiscal 2026, as reciprocal tariffs imposed by the US are seen to aggravate this. It said with the tariff hikes expected to come into effect from August, as India and the US are negotiating on a bilateral trade agreement and a key monitorable. Sector-wise, auto stocks remained in focus as the Ministry of Heavy Industries said the government has initiated the formulation of the Automotive Mission Plan 2047 (AMP 2047), a strategic road map aligned with the Viksit Bharat 2047 vision to establish India as a global automotive leader, focusing on innovation and sustainability. On the global front, Asian markets are trading mostly in green as investors took up New York's latest record highs sparked by healthy US retail data and upbeat earnings from some of Wall Street's big names.
The BSE Sensex is currently trading at 81756.67, down by 502.57 points or 0.61% after trading in a range of 81677.51 and 82334.75. There were 4 stocks advancing against 26 stocks declining on the index.
The broader indices were trading in red; the BSE Mid cap index fell 0.63%, while Small cap index was down by 0.72%
The lone gaining sectoral index on the BSE was Metal up by 0.03%, while Bankex down by 1.18%, Capital Goods down by 0.98%, Telecom down by 0.92%, Power down by 0.81% and Healthcare down by 0.75% were the top losing indices on BSE
The top gainers on the Sensex were Bajaj Finance up by 0.88%, Tata Steel up by 0.75%, Mahindra & Mahindra up by 0.06% and TCS up by 0.02%. On the flip side, Axis Bank down by 4.16%, Bharti Airtel down by 1.81%, Bharat Electronics down by 1.37%, Adani Ports &SEZ down by 1.36% and Kotak Mahindra Bank down by 1.33% were the top losers.
Meanwhile, the Ministry of Heavy Industries said that the government has initiated the formulation of the Automotive Mission Plan 2047 (AMP 2047), a strategic road map aligned with the 'Viksit Bharat @2047' vision to establish India as a global automotive leader, focusing on innovation and sustainability.
Sub-committees for AMP 2047 have held a meeting to outline objectives and framework and targets for sectoral growth, exports and industry advancement, to help increase India's share in global automotive trade. Seven sub-committees, comprising experts from government, industry, and academia, will guide the development of a comprehensive plan targeting milestones for 2030, 2037, and 2047.
Additional Secretary in the Heavy Industries Ministry Hanif Qureshi said ‘The vision for 2047 is not an aspiration but a strategic road map backed by concrete targets for sector growth, exports, and industry advancement. We must think beyond specific technologies or companies and focus on India's global standing in 2047, aiming to increase our share in global automotive trade through innovation and quality.’ The initiative involves various ministries, industry bodies (SIAM, ACMA, CII), academia, and testing agencies for an industry-led effort.
The CNX Nifty is currently trading at 24952.55, down by 158.90 points or 0.63% after trading in a range of 24938.15 and 25144.60. There were 6 stocks advancing against 44 stocks declining on the index.
The top gainers on Nifty were Wipro up by 2.86%, Bajaj Finance up by 1.13%, Tata Steel up by 0.84%, Infosys up by 0.07% and Mahindra & Mahindra up by 0.03%. On the flip side, Axis Bank down by 4.12%, SBI Life Insurance down by 2.15%, Bharti Airtel down by 1.68%, Adani Ports &SEZ down by 1.37% and Bharat Electronics down by 1.35% were the top losers.
Asian markets are trading mostly in green; Taiwan Weighted added 248.52 points or 1.08% to 23,361.80, Hang Seng advanced 177.69 points or 0.72% to 24,676.64, Straits Times rose 22.61 points or 0.54% to 4,184.04, Jakarta Composite gained 92.25 points or 1.25% to 7,379.27 and Shanghai Composite strengthened 12.07 points or 0.34% to 3,528.90.
On the flip side, Nikkei 225 slipped 87.82 points or 0.22% to 39,813.37 and KOSPI dropped 13.22 points or 0.41% to 3,179.07.
