Bourses trade at day’s high levels in early afternoon session

Indian markets traded at day’s high levels in early afternoon session following positive cues from other Asian markets. Investors kept close watch towards India-US trade deal. Traders preferred to buy fundamental strong stocks. Sentiments were positive as Cabinet has approved the free trade agreement (FTA) between India and the UK, which will be signed in London on July 24, 2025. The pact, officially called as comprehensive economic and trade agreement, will be signed during Prime Minister Narendra Modi's visit to London. The trade pact proposes to remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in a bid to double trade between the two economies to $120 billion by 2030. On the global front, Asian markets were trading mostly in green after U.S. President Donald Trump's announcement of a ‘massive’ trade deal with Japan eased concerns about the tariff war. 

The BSE Sensex is currently trading at 82538.22, up by 351.41 points or 0.43% after trading in a range of 82279.73 and 82544.44. There were 20 stocks advancing against 9 stocks declining on the index, while 1 stock remained unchanged. 

The broader indices were trading in red; the BSE Mid cap index declined 0.22%, while Small cap index was down by 0.11%.

The top gaining sectoral indices on the BSE were Auto up by 0.67%, Healthcare up by 0.66%, TECK up by 0.65%, Utilities up by 0.51% and IT was up by 0.46%, while Realty down by 2.68%, Capital Goods down by 0.74%, FMCG down by 0.49%, Industrials down by 0.44% and Basic Materials was down by 0.24% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Motors up by 1.94%, Bajaj Finance up by 1.58%, Maruti Suzuki up by 1.20%, Bharti Airtel up by 1.07% and Infosys up by 1.04%. On the flip side, Bharat Electronics down by 1.24%, Hindustan Unilever down by 1.01%, Ultratech Cement down by 0.53%, Asian Paints down by 0.35% and ITC down by 0.30% were the top losers.

Meanwhile, cabinet has approved the free trade agreement (FTA) between India and the UK, which will be signed in London on July 24, 2025. The pact, officially called as comprehensive economic and trade agreement, will be signed during Prime Minister Narendra Modi's visit to London. Modi's four-day visit to the United Kingdom and the Maldives begins on July 23, 2025. Commerce and Industry Minister Piyush Goyal will accompany the prime minister.

The two countries announced the conclusion of the negotiations for the trade agreement on May 6, 2025. The trade pact proposes to remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in a bid to double trade between the two economies to $120 billion by 2030. 

The pact has chapters on issues including goods, services, innovation, government procurement, and intellectual property rights. The text of the agreement is generally signed by the commerce ministers from both countries. Once the free trade agreement is signed, it will require approval from the British Parliament before it can take effect. The two countries have also concluded the negotiations for the Double Contribution Convention Agreement, or social security pact. It would help avoid double contribution to social security funds by Indian professionals working for a limited period in Britain. However, the talks for the bilateral investment treaty (BIT) are still going on.

The FTA comes into force after signing and ratification by both the countries. In such trade agreements, two countries either eliminate or significantly reduce customs duties on maximum goods traded between them. They also ease norms for promoting trade in services and bilateral investments. India's exports to the UK rose by 12.6 per cent to $14.5 billion, while imports grew by 2.3 per cent to $8.6 billion in 2024-25. The bilateral trade between India and the UK increased to $21.34 billion in 2023-24 from $20.36 billion in 2022-23.

The CNX Nifty is currently trading at 25176.45, up by 115.55 points or 0.46% after trading in a range of 25085.50 and 25176.65. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were Tata Motors up by 1.86%, Bajaj Finance up by 1.57%, Infosys up by 1.30%, Maruti Suzuki up by 1.29% and Apollo Hospital up by 1.22%. On the flip side, Tata Consumer down by 1.68%, Bharat Electronics down by 1.22%, Hindustan Unilever down by 0.92%, Ultratech Cement down by 0.55% and ONGC down by 0.41% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 1396.4 points or 3.39% to 41,171.32, Taiwan Weighted added 330.75 points or 1.42% to 23,318.67, Hang Seng advanced 289.68 points or 1.14% to 25,419.71, Jakarta Composite gained 62.6 points or 0.85% to 7,407.34, Straits Times rose 18.61 points or 0.44% to 4,226.87 and KOSPI was up by 13.83 points or 0.43% to 3,183.77. On the flip side, Shanghai Composite was down by 2.78 points or 0.08% to 3,579.08.