Indian equity benchmarks have extended gains in morning deals, driven by a rally in Realty, Auto and Banking stocks and a positive trend in global markets. Sentiments remained up-beat as the Asian Development Bank (ADB) has projected India's GDP growth to remain ‘robust’ at 6.9 per cent in the current fiscal, and rise to 7.3 per cent in next fiscal driven by strong domestic demand, and supported by easing financing conditions and lower US tariffs on Indian goods. Some support also came with Principal Secretary to the Prime Minister, Shaktikanta Das’ statement that India has consistently shown remarkable resilience during global crises, not only surviving them but also transforming through the turbulence to emerge stronger. Traders overlooked Federation of Indian Export Organisations (FIEO) stated that the country's merchandise exports are expected to register a fall of 2-3 per cent in 2025-26 due to global economic uncertainties, aggravated by the West Asia crisis. On the global front, Asian markets were trading higher as investors remained hopeful that the ceasefire between the United States and Iran would hold.
The BSE Sensex is currently trading at 77410.26, up by 778.61 points or 1.02% after trading in a range of 76851.16 and 77501.40. There were 25 stocks advancing against 5 stocks declining on the index.
The top gaining sectoral indices on the BSE were Realty up by 2.44%, Auto up by 2.06%, Bankex up by 1.84%, Consumer Disc up by 1.79% and Industrials up by 1.62%, while IT down by 2.20% and TECK down by 1.44% were the few losing indices on BSE.
The top gainers on the Sensex were Asian Paints up by 4.11%, ICICI Bank up by 3.03%, Axis Bank up by 2.56%, Mahindra & Mahindra up by 2.45% and Bajaj Finance up by 2.16%. On the flip side, Sun Pharma down by 3.96%, Infosys down by 3.12%, TCS down by 2.91%, HCL Technologies down by 2.44% and Tech Mahindra down by 1.68% were the top losers.
Meanwhile, the Federation of Indian Chambers of Commerce and Industry in its latest report on the implications of the West Asia conflict has said that signs of early stress are being observed across sectors, warranting proactive measures to mitigate immediate risks as well as to build long-term resilience.
The report highlighted that this crisis, while being challenging, also presents an opportunity for India to accelerate structural reforms aimed at strengthening economic resilience and reducing external vulnerabilities. According to the report, the government may consider the provision of emergency financing for Micro, Small, and Medium Enterprises (MSMEs) and issuance of advisories to address force majeure-related risks in public procurement contracts, ensuring companies are not punished for unavoidable delays.
Moreover, the report suggested that the government may initiate consultations within the Goods and Services Tax (GST) Council to explore a roadmap for the inclusion of petroleum products under GST, a move that may cut costs, improve logistics efficiency, and make industries more competitive.
The CNX Nifty is currently trading at 24003.75, up by 228.65 points or 0.96% after trading in a range of 23856.35 and 24036.20. There were 41 stocks advancing against 9 stocks declining on the index.
The top gainers on Nifty were Asian Paints up by 4.06%, ICICI Bank up by 2.97%, Axis Bank up by 2.50%, Shriram Finance up by 2.49% and Eicher Motors up by 2.36%. On the flip side, Sun Pharma down by 3.91%, Infosys down by 3.20%, TCS down by 3.09%, HCL Technologies down by 2.38% and Tech Mahindra down by 1.78% were the top losers.
All Asian markets were trading higher; Nikkei 225 surged 1122.68 points or 2.01% to 57,018.00, Taiwan Weighted added 475.12 points or 1.34% to 35,336.28, Jakarta Composite gained 147.87 points or 1.98% to 7,455.46, Shanghai Composite strengthened 20.82 points or 0.52% to 3,986.99, KOSPI increased 96.52 points or 1.64% to 5,874.53, Hang Seng advanced 194.6 points or 0.76% to 25,947.00 and Straits Times rose 8.3 points or 0.17% to 4,985.38.
