Weak trade persisted in Indian equity markets amid fresh tensions in the Strait of Hormuz region, while a sharp fall in the rupee also added to the weak trend. Traders were cautious, as think tank GTRI said that the Indo-Pacific Economic Framework for Prosperity (IPEF), a 14-member grouping including India, the US and Australia, is losing relevance under US President Donald Trump's aggressive trade strategy. Besides, RBI Deputy Governor Swaminathan J. said that a lightly supervised system may appear efficient for some time, because of lower costs and faster growth, but if that growth rests on weak governance, poor credit standards or hidden risks, the eventual cost is also borne by depositors as well as the wider economy.
On the global front, European markets were trading mostly in green, as euro zone investor sentiment improved unexpectedly in May, driven by investor expectations that the conflict with Iran would not escalate further. A survey conducted by the behavioral research institute Sentix showed that the investor sentiment index rose to -16.4 in May from -19.2 in April. The score was forecast to fall to -20.9.
The BSE Sensex is currently trading at 76987.45, down by 281.95 points or 0.36% after trading in a range of 76515.03 and 77151.33. There were 10 stocks advancing against 20 stocks declining on the index.
Thetop gaining sectoral indices on the BSE were Telecom up by 0.50%, Power up by 0.45%, FMCG up by 0.38%, Capital Goods up by 0.37% and Auto up by 0.27%, while Realty down by 1.25%, Consumer Durables down by 0.63%, Energy down by 0.55%, Oil & Gas down by 0.41% and Bankex down by 0.36% were the top losing indices on BSE.
The top gainers on the Sensex were Mahindra & Mahindra up by 2.35%, Ultratech Cement up by 1.71%, Bajaj Finserv up by 0.93%, Bajaj Finance up by 0.62% and Infosys up by 0.61%. On the flip side, ICICI Bank down by 1.36%, Eternal down by 1.35%, Larsen & Toubro down by 1.33%, Maruti Suzuki down by 1.30% and Tech Mahindra down by 1.27% were the top losers.
Meanwhile, amid ongoing efforts to expand India's global trade footprint, Union Minister of Commerce and Industry Piyush Goyal has reviewed the progress of India's Free Trade Agreements (FTAs) in a meeting held with key officers and chief negotiators. During the meeting, they discussed ways to encourage more businesses to export from India, further unlocking the country's potential to export world-class products. Also, avenues to strengthen India's position in global value chains were explored.
India has significantly expanded its network of trade agreements in recent years, reaching nine FTAs spanning 38 countries. The expansion began with the India-Mauritius agreement in 2021, followed by the India-UAE Comprehensive Economic Partnership Agreement in May 2022 and the India-Australia Economic and Trade Agreement in December 2022.
India later signed the EFTA Trade and Economic Partnership Agreement on March 10, 2024, which came into force on October 1, 2025. Further strengthening its trade ties, India signed the India-UK Comprehensive Economic and Trade Agreement in July 2025 and the India-Oman Comprehensive Economic Partnership Agreement in December 2025. The India-New Zealand FTA was announced on December 22, 2025 and signed on April 27, 2026. The India-EU FTA was announced on January 27, 2026. With the United States, India has also delivered a framework for an interim agreement on February 7, 2026, further expanding its global engagement.
The CNX Nifty is currently trading at 24042.10, down by 77.20 points or 0.32% after trading in a range of 23882.05 and 24081.70. There were 16 stocks advancing against 34 stocks declining on the index.
The top gainers on Nifty were Mahindra & Mahindra up by 2.53%, Ultratech Cement up by 1.64%, Nestle up by 1.48%, Bajaj Finserv up by 1.07% and Hindalco up by 0.94%. On the flip side, JIO Financial Serv. down by 1.70%, Coal India down by 1.55%, ICICI Bank down by 1.48%, Eternal down by 1.36% and Tech Mahindra down by 1.27% were the top losers.
European markets were trading mostly in green; Germany’s DAX gained 207.13 points or 0.86% to 24,198.40, and France’s CAC rose 51.28 points or 0.64% to 8,027.40, while UK’s FTSE 100 decreased 105.51 points or 1.02% to 10,258.42.
Asian markets ended mixed; Hang Seng declined 233.88 points or 0.9% to 25,862.00 and Straits Times fell 11.75 points or 0.24% to 4,912.56, while Taiwan Weighted added 64.15 points or 0.16% to 40,769.29 and Jakarta Composite gained 66.68 points or 0.95% to 7,038.63.
