Domestic indices maintain gains in late morning deals

Domestic equity markets maintained their gains in late morning deals on account of buying by funds and retail investors. Hectic buying in Eternal, ICICI bank, HDFC bank, Ultratech Cement and Tata Steel companies’ stocks helped the markets to maintain their gains. Sentiments got boost after strong Q1 earnings from heavyweights HDFC Bank and ICICI Bank. Positive cues from other Asian markets also supported domestic sentiments. Further, some support also came in as Prime Minister Narendra Modi’s two-day visit to the United Kingdom (UK) on July 23-24 will focus on increasing bilateral trade, and the signing of the India-UK Free Trade Agreement (FTA) in London. On the BSE sectoral front, traders were seen pilling up positions in Metal, Bankex, Basic Materials, Capital Goods and Industrials, while selling was witnessed in Energy, Oil & Gas, FMCG, IT and TECK.

On the global front, Asian markets were trading mostly in green despite trade tensions persisted, and Japan's ruling coalition lost control of the upper house in an election on Sunday, further weakening Prime Minister Shigeru Ishiba's grip on power. U.S. Commerce Secretary Howard Lutnick Sunday called August 1 the hard deadline for countries to start paying tariffs. Back home, in the stock specific development, Sona BLW Precision Forgings surged as the company has forayed into China EV market. The company has signed a binding term sheet with Jinnaite Machinery Co. (JNT) to establish a joint venture (JV) company in China. 

The BSE Sensex is currently trading at 82109.73, up by 352.00 points or 0.43% after trading in a range of 81518.66 and 82161.55. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index was up by 0.32%, while Small cap index down by 0.03%.

The top gaining sectoral indices on the BSE were Metal up by 1.06%, Bankex up by 0.91%, Basic Materials up by 0.86%, Capital Goods up by 0.79% and Industrials up by 0.58%, while Energy down by 0.94%, Oil & Gas down by 0.56%, FMCG down by 0.44%, IT down by 0.35% and TECK down by 0.18% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 3.17%, ICICI Bank up by 2.30%, HDFC Bank up by 1.95%, Ultratech Cement up by 1.20% and Tata Steel up by 1.02%. On the flip side, Reliance Industries down by 2.13%, HCL Technologies down by 0.88%, Hindustan Unilever down by 0.80%, TCS down by 0.67% and Asian Paints down by 0.44% were the top losers.

Meanwhile, the commerce ministry’s data revealed that the U.S., UAE and China have emerged as the top three export destinations for India's electronics sector, during April-June quarter of 2025-26. Besides, Netherlands and Germany were other major export destinations for the country's electronic exports. During the same period, India’s electronic exports grew by 47% to $12.41 billion. The US remains India's largest export destination contributing to 60.17% of total electronic exports, followed by the UAE contributing 8.09%, China with 3.88%, the Netherlands with 2.68%, and Germany with 2.09% share.

The data indicated that the country’s exports of RMG of all textiles rose to $4.19 billion in April-June quarter of 2025-26 as against $3.85 billion in the same quarter last fiscal. The data showed that the US remains the dominant export destination for India's ready-made garments (RMG). The US accounted for 34.11% of total RMG shipments, followed by the UK accounting for 8.81%, the UAE for 7.85%, Germany for 5.51%, and Spain for 5.29%. During FY25, country’s RMG sector recorded a 10.03% growth at $15.99 billion compared to $14.53 billion in FY24. 

During April-June this fiscal, marine exports grew by 19.45% to $1.95 billion. The revival in these exports during the first quarter of the current fiscal is largely attributed to robust demand from key markets such as the US, which remains the largest importer with a 37.63% share. It was followed by China with 17.26% share, Vietnam with 6.63%, Japan with 4.47%, and Belgium with 3.57% share. The diversification in product offerings, improved cold chain logistics, and compliance with international quality standards have been instrumental in sustaining India's competitive edge in the global seafood market. Further, country’s export performance across electronic goods, RMG, and marine products reveals a strong reliance on mature, high-value markets.

The CNX Nifty is currently trading at 25053.55, up by 85.15 points or 0.34% after trading in a range of 24882.30 and 25079.50. There were 24 stocks advancing against 26 stocks declining on the index.

The top gainers on Nifty were Eternal up by 3.09%, ICICI Bank up by 2.38%, HDFC Bank up by 1.90%, Hindalco up by 1.15% and Ultratech Cement up by 1.13%. On the flip side, Indusind Bank down by 2.65%, Reliance Industries down by 2.15%, Wipro down by 1.76%, Tata Consumer down by 1.02% and Hindustan Unilever down by 0.92% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 84.47 points or 0.34% to 24,910.13, Jakarta Composite gained 63.88 points or 0.87% to 7,375.80, Shanghai Composite strengthened 22.76 points or 0.64% to 3,557.24, Straits Times rose 19.84 points or 0.47% to 4,209.34 and KOSPI increased 20.72 points or 0.65% to 3,208.79. However, Taiwan Weighted lost 42.57 points or 0.18% to 23,340.56.