Indices magnify gains in late morning deals

Domestic equity indices magnified their gains and were trading higher by over half percent in late morning deals as market participants indulged in expanding their positions. Positive cues from the other Asian markets supported domestic sentiments. There was encouragement in markets as the commerce ministry has emphasized that the proposed free trade agreement (FTA) between India and New Zealand is expected to significantly enhance trade flows, deepen investment linkages, strengthen supply-chain resilience, and provide greater predictability and market access for businesses in both countries. Most of sectoral indices on the BSE were trading in green led by IT, TECK, Consumer Durables, Capital Goods and Industrials.

On the global front, Asian markets were trading mostly in green as traders cheer reports the U.S. Senate is nearing a potential deal to extend government funding after the record 40-day long US government shutdown. Back home, in the stock specific development, AIK Pipes and Polymers rallied on receiving an order from an AA-Class EPC contracting Firm working under the Public Health Engineering Department (PHED), Government of Rajasthan.

The BSE Sensex is currently trading at 83714.71, up by 498.43 points or 0.60% after trading in a range of 83197.67 and 83737.16. There were 22 stocks advancing against 8 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index was up by 0.65%, while Small cap index down by 0.16%.

The top gaining sectoral indices on the BSE were IT up by 1.86%, TECK up by 1.57%, Consumer Durables up by 0.92%, Capital Goods up by 0.79% and Industrials up by 0.69%, while Telecom down by 0.09% was the losing index on BSE.

The top gainers on the Sensex were Infosys up by 2.69%, HCL Technologies up by 2.03%, TCS up by 1.63%, Asian Paints up by 1.47% and Reliance Industries up by 1.40%. On the flip side, Trent down by 6.51%, Power Grid down by 0.70%, Mahindra & Mahindra down by 0.53%, Tata Steel down by 0.44% and SBI down by 0.12% were the top losers.

Meanwhile, the commerce ministry has emphasized that the proposed free trade agreement (FTA) between India and New Zealand is expected to significantly enhance trade flows, deepen investment linkages, strengthen supply-chain resilience, and provide greater predictability and market access for businesses in both countries. The India and New Zealand have concluded their fourth round of negotiations FTA on November 7, in Auckland and Rotorua. 

The ministers from both sides have acknowledged the steady progress made during this round and reaffirmed their commitment to work towards a modern, comprehensive, and future-ready FTA. Further, they held detailed engagements across key tracks including trade in goods, trade in services, economic and trade cooperation, and rules of origin. The commerce ministry noted that the discussions reflected the shared aim to strengthen economic ties and build a mutually beneficial partnership that supports resilient, inclusive, and sustainable growth.

In FY204-25, the India’s bilateral merchandise trade with New Zealand stood at $1.3 billion, marking a year-on-year growth of nearly 49 percent. The ministry highlighted that the proposed FTA is expected to unlock further potential in sectors such as agriculture, food processing, renewable energy, pharmaceuticals, education, and services, creating new opportunities for businesses and consumers alike.

The CNX Nifty is currently trading at 25649.80, up by 157.50 points or 0.62% after trading in a range of 25503.50 and 25651.95. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were Infosys up by 2.71%, Wipro up by 1.99%, HCL Technologies up by 1.98%, Grasim Industries up by 1.82% and Asian Paints up by 1.65%. On the flip side, Trent down by 6.55%, Apollo Hospital down by 1.24%, Power Grid down by 0.72%, Max Healthcare down by 0.70% and Eicher Motors down by 0.65% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 649.63 points or 1.28% to 50,926.00, Taiwan Weighted added 218.1 points or 0.78% to 27,869.51, Jakarta Composite gained 21.01 points or 0.25% to 8,415.60, Shanghai Composite strengthened 6.38 points or 0.16% to 4,003.94, KOSPI increased 129.32 points or 3.17% to 4,083.08 and Hang Seng advanced 367.17 points or 1.38% to 26,609.00. However, Straits Times fell 19.42 points or 0.43% to 4,472.82.