Bourses continue to trade in green in early afternoon session

Indian markets continued to trade in green in early afternoon session led by gains in metal sectors stocks. Traders turned their focus towards Tata Consultancy Services’ (TCS) Q2 earning, which is due later in the day. Traders took note of report that Prime Minister Narendra Modi welcomed the agreement over the first phase of US President Donald Trump's Gaza peace plan and expressed hope for ‘lasting peace’. The agreement comes after two years of ongoing conflict between Israel and Hamas. Besides, Union Commerce and Industry Minister Piyush Goyal said no power on earth can stop India from becoming a developed nation by 2047 and that the government is taking a series of initiatives to promote the domestic economy, build infrastructure and expand international trade. On the global front, Asian markets were trading mostly in green driven by robust investments in AI technology. 

The BSE Sensex is currently trading at 82074.85, up by 301.19 points or 0.37% after trading in a range of 81667.68 and 82160.85. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index gained 0.51%, while Small cap index was down by 0.04%.

The top gaining sectoral indices on the BSE were Metal up by 1.77%, Basic Materials up by 0.90%, Oil & Gas up by 0.87%, Healthcare up by 0.80% and Energy was up by 0.78%, while Auto down by 0.08%, FMCG down by 0.06%, Consumer Durables down by 0.04% and Telecom was down by 0.03% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 2.15%, HCL Tech up by 2.06%, Kotak Mahindra Bank up by 1.40%, Larsen & Toubro up by 1.33% and Eternal up by 1.27%. On the flip side, Tata Motors down by 1.10%, Axis Bank down by 0.91%, Titan Company down by 0.79%, Maruti Suzuki down by 0.56% and HDFC Bank down by 0.23% were the top losers.

Meanwhile, Union Renewable Energy Minister Pralhad Joshi has said that India's solar power generation capacity has touched the 125 GW mark, making the nation the third-largest solar energy producer. Addressing at the curtain raiser of 8th session of the International Solar Alliance (ISA) Assembly, the minister said, ‘as per CoP28 outcome, we must triple the world's renewable energy to 11,000 GW by 2030. And solar power is the single greatest key to achieving both of these ambitions.’

He opined that this progress shows how national ambition can translate into meaningful change at the local level. He stated that born from a vision shared by India and France, the ISA has become a powerful global platform for change, and added that its membership has increased to 124 countries today. He said ‘as our Hon'ble Prime Minister, Narendra Modi, envisioned, it has grown into a giant tree from a sapling, offering shelter and hope to all under one sun’. He noted that with PM Surya Ghar Muft Bijli Yojana, more than 20 lakh households are already benefiting from solar power on their rooftops. 

The ISA is a collaborative initiative between India and France aimed at uniting efforts to combat climate change by implementing solar energy solutions. Its mission is to unlock $1 trillion in solar investments by 2030 while reducing technology and financing costs.  

The CNX Nifty is currently trading at 25154.10, up by 107.95 points or 0.43% after trading in a range of 25024.30 and 25181.25. There were 40 stocks advancing against 10 stocks declining on the index.

The top gainers on Nifty were Tata Steel up by 2.22%, JSW Steel up by 2.04%, HCL Tech up by 2.00%, Interglobe Aviation up by 1.58% and Dr. Reddy's Lab up by 1.36%. On the flip side, Tata Motors down by 1.17%, Axis Bank down by 0.91%, Titan Company down by 0.72%, Maruti Suzuki down by 0.59% and Tata Consumer down by 0.28% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 775.01 points or 1.6% to 48,510.00, Taiwan Weighted added 238.24 points or 0.87% to 27,301.92, Shanghai Composite strengthened 49.49 points or 1.27% to 3,932.27 and Jakarta Composite was up by 30.94 points or 0.38% to 8,196.97. On the flip side, Straits Times fell 9.61 points or 0.22% to 4,446.69 and Hang Seng was down by 86.46 points or 0.32% to 26,743.00.