Sensex, Nifty trade higher in early deals amid foreign fund inflows

Indian equity benchmarks made flat-to-negative start on Friday but soon entered into green terrain amid weak global cues. However, Sensex and Nifty were trading higher with decent gains in early deals amid foreign fund inflows. Foreign institutional investors (FIIs) were net buyers of shares to the extent of Rs 1,308.16 crore on Thursday. Easing geopolitical tension in the Middle East also supported domestic sentiments. Some support came as the Union Minister for Road Transport and Highways, Nitin Gadkari, reiterated the Government’s goal of achieving a $5 trillion economy by 2027. He also highlighted the national vision of making India a developed nation by 2047.

On the global front, Asian markets were trading mostly lower, following the broadly negative cues from Wall Street overnight, on waning optimism over the outlook for interest rate amid concerns about the ongoing U.S. government shutdown, which entered its ninth day with no end in sight. Besides, the Bank of Japan said producer prices in Japan were up 0.3 percent on month in September. Meanwhile, Taiwan is closed for Double Tenth Day.

Back home, Fertiliser stocks were in focus as Crisil Ratings report said that volume growth of complex fertilisers is expected to slow down to 2-4 per cent in this financial year from a growth of 9 per cent last year amid import constraints, geopolitical headwinds and a high-base effect. In stock specific development, Tata Consultancy Services (TCS) traded under pressure after Q2-FY26 bottom line came in below the street's estimates, while margins and revenue came in line.

The BSE Sensex is currently trading at 82497.15, up by 325.05 points or 0.40% after trading in a range of 82072.93 and 82519.26. There were 25 stocks advancing against 5 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.29%, while Small cap index was up by 0.65%.

The top gaining sectoral indices on the BSE were Realty up by 1.54%, Utilities up by 1.05%, Power up by 0.87%, Consumer Durables up by 0.84% and Capital Goods up by 0.79%, while Metal down by 1.06%, Basic Materials down by 0.24%, IT down by 0.03% and TECK down by 0.02% were the top losing indices on BSE.

The top gainers on the Sensex were Power Grid up by 1.47%, Axis Bank up by 1.34%, Adani Ports & SEZ up by 1.19%, SBI up by 1.01% and NTPC up by 0.98%. On the flip side, Tata Steel down by 1.39%, TCS down by 0.87%, Tech Mahindra down by 0.27%, Mahindra & Mahindra down by 0.25% and Bajaj Finance down by 0.18% were the top losers.

Meanwhile, British Prime Minister Keir Starmer has said that India is on track to become the third largest economy by 2028 and the UK is perfectly placed to be a partner in this journey. He said the India-UK trade deal is a launchpad to boost British leadership in areas ranging from technology to life sciences to renewable energy and more, and added that the two countries are also deepening the UK-India Technology Security Initiative.

Calling the Free Trade Agreement (FTA) signed in July this year between the two countries ‘really important’, Starmer said ‘It's the biggest deal we've struck since we left the European Union. I think it's also the biggest deal that India has ever struck, so it's hugely important’.

Moreover, he expressed confidence that US President Donald Trump's Israel-Hamas peace plan will bring relief to the hostages, civilian population in Gaza, and the whole world. He and Prime Minister Narendra Modi discussed the Russia-Ukraine conflict, and looked at the outcome both of the countries want, which focused on ending the conflict.

The CNX Nifty is currently trading at 25279.20, up by 97.40 points or 0.39% after trading in a range of 25156.85 and 25285.10. There were 41 stocks advancing against 9 stocks declining on the index.

The top gainers on Nifty were Power Grid up by 1.52%, Adani Ports & SEZ up by 1.20%, ONGC up by 1.13%, Axis Bank up by 1.05% and SBI up by 0.98%. On the flip side, Tata Steel down by 1.43%, JSW Steel down by 1.23%, Hindalco down by 1.08%, TCS down by 0.73% and Tech Mahindra down by 0.28% were the top losers.

Asian markets are trading mostly in red; Nikkei 225 slipped 499.44 points or 1.03% to 48,081.00, Hang Seng declined 305.59 points or 1.14% to 26,447.00, Shanghai Composite weakened 20.17 points or 0.51% to 3,913.80, Jakarta Composite fell 7.44 points or 0.09% to 8,243.50 and Straits Times was down by 5.34 points or 0.12% to 4,435.16, while KOSPI was up by 50.00 points or 1.41% to 3,599.21.