Domestic indices continue to trade in green in late morning deals

Indian equity markets remained in green and were trading higher by around quarter a percent in late morning deals owing to buying in Tata Motors, Bajaj Finance, Maruti Suzuki, Bharti Airtel and NTPC companies’ stocks. Positive cues from other Asian markets supported domestic sentiments. Further, falling crude oil prices overnight also supported domestic sentiments.  Besides, there was some encouragement in the markets as the cabinet has reportedly approved the free trade agreement (FTA) between India and the UK, which will be signed in London on July 24, 2025. On the BSE sectoral front, traders were seen pilling up positions in Auto, Telecom, Utilities, Healthcare and TECK, while selling was witnessed in Realty, Capital Goods, Industrials, FMCG and Basic Materials.

On the global front, Asian markets were trading higher after U.S. President Donald Trump announced trade deals with Japan & Philippines, sparking hopes for broader progress on international trade. Back home, in the stock specific development, Infosys rose around half a percent ahead of its earnings results due today.

The BSE Sensex is currently trading at 82383.07, up by 196.26 points or 0.24% after trading in a range of 82279.73 and 82475.45. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.29%, while Small cap index down by 0.19%.

The top gaining sectoral indices on the BSE were Auto up by 0.70%, Telecom up by 0.52%, Utilities up by 0.45%, Healthcare up by 0.45% and TECK up by 0.41%, while Realty down by 2.79%, Capital Goods down by 0.89%, Industrials down by 0.57%, FMCG down by 0.55% and Basic Materials down by 0.19% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Motors up by 2.49%, Bajaj Finance up by 1.42%, Maruti Suzuki up by 1.22%, Bharti Airtel up by 1.01% and NTPC up by 0.79%. On the flip side, Bharat Electronics down by 1.24%, Hindustan Unilever down by 0.95%, Trent down by 0.50%, Asian Paints down by 0.47% and Ultratech Cement down by 0.45% were the top losers.

Meanwhile, the World Bank in its recent report suggested that Indian cities will require over $2.4 trillion in investments by 2050 to build resilient and low-carbon infrastructure as the cities are becoming more vulnerable to floods, heatwaves, and other climate-related risks. It noted that the cities hold tremendous potential as centres of economic growth, with 70 per cent of new jobs coming from cities by 2030. It highlighted that annual economic losses from rain-related flooding are currently estimated at $4 billion and is projected to grow to $5 billion by 2030 and between $14 and $30 billion by 2070 if no remedial action is taken.

World Bank raised concerns about heat-related deaths saying, if emissions continue at current levels, annual heat-related deaths may rise from 1,44,000 to more than 3,28,000 by 2050. Further, around 20 percent of working hours in major Indian cities could be lost due to high heat stress conditions. It has suggested that heat mitigation alone could increase India's Gross Domestic Product by up to 0.4 per cent and save up to 130,000 lives annually by 2050. It expects country's urban population to grow to 1.1 billion by 2070, requiring more than 144 million new urban homes.

Besides, it emphasized the need of private sector investment as the public financing alone will not be sufficient to meet this demand. It calls for increased private sector investment through tools such as green bonds, blended finance, and access to international climate funds. Moreover, it recommends strengthening the financial autonomy of urban local bodies and improving their capacity to plan and implement bankable projects. It estimates an investment of $150 billion over 15 years could enable 60 per cent of existing Indian cities to implement flood mitigation measures.

The CNX Nifty is currently trading at 25117.85, up by 56.95 points or 0.23% after trading in a range of 25085.50 and 25149.85. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Tata Motors up by 2.42%, Bajaj Finance up by 1.43%, Maruti Suzuki up by 1.20%, Bajaj Auto up by 1.10% and Apollo Hospital up by 1.07%. On the flip side, Bharat Electronics down by 1.43%, Tata Consumer down by 1.40%, Hindustan Unilever down by 0.92%, Asian Paints down by 0.47% and HDFC Life Insurance down by 0.45% were the top losers.

All Asian markets were trading higher; Hang Seng advanced 362.71 points or 1.42% to 25,492.74, Jakarta Composite gained 56.35 points or 0.76% to 7,401.09, Shanghai Composite strengthened 23.25 points or 0.64% to 3,605.11, Straits Times rose 19.3 points or 0.46% to 4,227.56, KOSPI increased 14.09 points or 0.44% to 3,184.03, Nikkei 225 surged 1545.63 points or 3.74% to 41,320.55 and Taiwan Weighted added 282.7 points or 1.21% to 23,270.62.