Indian equity markets have made negative start and are trading lower with cut of over quarter percent in early deals on Tuesday on weak cues from the global markets and rising crude oil prices. Cautiousness prevailed in the markets as traders continued to assess the risk of immediate crude oil supply disruptions amid renewed tensions between the United States and Iran. A fragile ceasefire between the United States and Iran appeared close to unraveling after the United Arab Emirates was hit by Iranian drones and missiles. Meanwhile, U.S. President Donald Trump warned that Iran would be blown off the face of the earth if it targeted U.S. ships safeguarding commercial traffic through the strait. Further, depreciation in Indian rupee against dollar also weighed down sentiments. The rupee weakened to 95.39 per ?dollar, down 0.3% on ?the day. On the BSE sectoral front, traders were seen piling up positions in Telecom, Capital Goods, Power, TECK and IT, while selling was witnessed in Realty, Metal, Bankex, Basic Materials and Healthcare.
On the global front, Asian markets were trading mostly in red following weak cues from the US markets overnight. Back home, in the stock specific development, Dynacons Systems surged as the company has been awarded an order for Supply, Installation, Implementation, Integration, Maintenance and Facilities Management Services for Private Cloud Infrastructure for Data Centers of Reserve Bank of India. The total order value is Rs 750.82 crore (including GST).
The BSE Sensex is currently trading at 77046.17, down by 223.23 points or 0.29% after trading in a range of 76745.16 and 77140.97. There were 8 stocks advancing against 22 stocks declining on the index.
The top gaining sectoral indices on the BSE were Telecom up by 0.91%, Capital Goods up by 0.65%, Power up by 0.62%, TECK up by 0.41% and IT up by 0.32%, while Realty down by 0.60%, Metal down by 0.52%, Bankex down by 0.46%, Basic Materials down by 0.34% and Healthcare down by 0.19% were the top losing indices on BSE.
The top gainers on the Sensex were Bharti Airtel up by 0.83%, Reliance Industries up by 0.39%, Titan up by 0.36%, Infosys up by 0.30% and Bharat Electronics up by 0.28%. On the flip side, Larsen & Toubro down by 1.34%, Bajaj Finance down by 1.12%, ICICI Bank down by 1.01%, Bajaj Finserv down by 1.01% and Sun Pharma down by 0.94% were the top losers.
Meanwhile, the data released by the Central Board of Direct Taxes (CBDT) has showed that government's net direct tax collections (including corporate and non-corporate tax) for the fiscal year 2025-26 (FY26) increased by 5.12% to over Rs 23.40 lakh crore as compared to Rs 22.26 lakh crore collected in FY25. However, this figure fell short of the revised budget target set for the fiscal year that ended March 2026.
In the revised estimates (RE) for FY26, the government lowered the direct tax collection target to Rs 24.21 lakh crore. The original budget estimate was set at Rs 25.20 lakh crore. This included a corporate tax of Rs 11.09 lakh crore and personal income tax (including STT) of Rs 13.12 lakh crore. Net corporate tax mop-up was Rs 10.99 lakh crore, and personal income tax, including Securities Transaction Tax, was about Rs 12.41 lakh crore.
The issuance of refunds dipped slightly by 1.09% to Rs 4.71 lakh crore in 2025-26. Gross direct tax collection during the recently concluded fiscal stood at about Rs 28.12 lakh crore, registering a 4.03% increase compared to Rs 27.03 lakh crore in FY25.
The CNX Nifty is currently trading at 24042.75, down by 76.55 points or 0.32% after trading in a range of 23949.40 and 24072.10. There were 13 stocks advancing against 37 stocks declining on the index.
The top gainers on Nifty were HDFC Life up by 0.71%, Bharti Airtel up by 0.69%, Reliance Industries up by 0.53%, Titan up by 0.46% and Adani Enterprises up by 0.34%. On the flip side, Shriram Finance down by 1.68%, Larsen & Toubro down by 1.24%, Bajaj Finance down by 1.07%, ICICI Bank down by 1.01% and Bajaj Finserv down by 0.98% were the top losers.
Asian markets were trading mostly in red; Hang Seng declined 335.88 points or 1.29% to 25,760.00, Straits Times fell 22.67 points or 0.46% to 4,901.64 and Taiwan Weighted lost 0.04 points to 40,705.10. However, Jakarta Composite gained 91.74 points or 1.32% to 7,063.69.
