Key gauges snap four-day losing streak on Tuesday

Snapping four-day losing streak, Indian equity benchmarks ended higher on Tuesday amid renewed value buying, gains in information technology stocks and easing crude oil prices. Traders assessed mixed signals over the status of U.S.-Iran peace talks and awaited upcoming RBI rate decision. 

Some of the important factors in trade: 

Free trade agreement between India, Oman comes into force on June 01: Marking a defining milestone in bilateral economic relations, Commerce and Industry Minister Piyush Goyal has said that the free trade agreement between India and Oman came into force on June 01, 2026 after completion of internal processes by both sides. 

Govt meets FY26 fiscal deficit target of 4.4% of GDP: Easing immediate concerns over government finances, the data released by the Controller General of Accounts (CGA) has showed that the government met its fiscal deficit target of 4.4 per cent of gross domestic product (GDP) for FY 2025-26 (FY26). 

Banks sanctions Rs 35,000 crore ECLGS loans to MSMEs & industries hit by West Asia Crisis: Department of Financial Services Joint Secretary Manoj Muttathil Ayyappan has said that banks have sanctioned loans worth more than Rs 35,000 crore under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 for MSMEs, airlines and other businesses impacted by the ongoing crisis in West Asia.  

India-US finalize most elements of first phase of BTA, now focus on minor issues: Indicating that talks on the India-US trade agreement are in final stage, the Commerce and Industry Minister Piyush Goyal has said that India and US have finalised most elements of the first phase of the bilateral trade agreement (BTA), and negotiations are now focused on a few minor issues.  

Global front: European markets were trading higher with investors assessing the situation in the Middle East amidst differing accounts from U.S. President Donald Trump and the Israelian Prime Minister Benjamin Netanyahu. Asian markets settled mostly higher as investors weighed optimism around artificial intelligence against heightened geopolitical risks from Middle East tensions. 

Finally, the BSE Sensex rose 382.50 points or 0.52% to 74,649.84 and the CNX Nifty was up by 100.95 points or 0.43% to 23,483.55.   

The BSE Sensex touched high and low of 74,862.19 and 73,815.12, respectively. There were 20 stocks advancing against 10 stocks declining on the index.    

The top gaining sectoral indices on the BSE were IT up by 4.40%, TECK up by 2.96%, Consumer Durables up by 1.23%, Telecom up by 0.95% and Consumer Discretionary up by 0.83%, while Utilities down by 0.61%, Power down by 0.61%, Healthcare down by 0.38%, Oil & Gas down by 0.17% and PSU down by 0.16% were the top losing indices on BSE.

The top gainers on the Sensex were TCS up by 6.53%, Infosys up by 5.66%, HCL Technologies up by 4.08%, Adani Ports &SEZ up by 1.84% and Tech Mahindra up by 1.76%. On the flip side, NTPC down by 2.89%, Axis Bank down by 1.74%, Power Grid Corporation down by 1.38%, ICICI Bank down by 1.06% and Bajaj Finance down by 0.91% were the top losers. 

Meanwhile, marking a defining milestone in bilateral economic relations, Commerce and Industry Minister Piyush Goyal has said that the free trade agreement between India and Oman came into force on June 01, 2026 after completion of internal processes by both sides. The India-Oman Comprehensive Economic Partnership Agreement (CEPA) will benefit domestic exporters in sectors such as textiles, leather, plastics, marine products, automobiles, sports goods, and agri-items, as they gain preferential access to the Omani market over competitors. The free trade pact was signed on December 18, 2025 in Muscat.

To mark the entry into force, about 10 consignments of agriculture and gems and jewellery products from Mumbai, Kolkata and Chennai were shipped to the Gulf nation under the preferential tariffs. Successfully concluded through a structured negotiation process, the agreement reinforces India’s growing economic and trade footprint and strategic presence across GCC economies, encompassing goods, services, professional mobility, regulatory cooperation, non-tariff barrier safeguards, and cooperation chapters, going well beyond tariff reduction to build a long-term economic architecture.

CEPA provides duty-free access for 99.38% of India’s exports to Oman by value, covering 98.08% of Oman’s tariff lines, making it one of the most comprehensive market access outcomes secured by India in the Gulf region. All zero-duty concessions come into effect immediately providing certainty and competitiveness to Indian exporters. India has offered tariff liberalization on 77.79% of tariff lines covering 94.81% of imports from Oman by value, while maintaining strong safeguards for sensitive sectors. Oman is India’s second-largest trading partner in the Gulf region and serves as a strategic gateway to the wider GCC market through its advanced port infrastructure. Bilateral trade between India and Oman reached $11.18 billion in FY 2025-26, up from $10.61 billion in FY 2024-25.

CNX Nifty touched high and low of 23,556.95 and 23,229.15, respectively. There were 34 stocks advancing against 16 stocks declining on the index. 

The top gainers on Nifty were TCS up by 6.69%, Infosys up by 5.61%, HCL Technologies up by 4.17%, Adani Enterprises up by 2.15% and Wipro up by 1.79%. On the flip side, NTPC down by 2.98%, Axis Bank down by 1.76%, Power Grid Corporation down by 1.45%, HDFC Life Insurance down by 1.22% and Dr. Reddy's Lab down by 1.04% were the top losers. 

European markets were trading higher; UK’s FTSE 100 increased 38.04 points or 0.37% to 10,376.99, France’s CAC rose 54.51 points or 0.66% to 8,201.10 and Germany’s DAX gained 176.06 points or 0.7% to 25,179.10.

Asian markets settled mostly higher on Tuesday tracking Wall Street’s gains overnight after US President Donald Trump said talks with Iran were continuing at a rapid pace and that a memorandum of understanding with Iran could be reached within the next week. He also said that Israel and Hezbollah had agreed to dial back fighting. Market sentiment was also boosted by continued optimism surrounding artificial intelligence-related investments. However, Japanese shares declined on concerns over rising import costs and regional supply chain exposures. Markets are pricing in roughly a 78% probability that the Bank of Japan will raise interest rates again later this month as inflationary pressures linked to the Middle East conflict continue to build. Meanwhile, investors awaited the slew of US economic data scheduled for release this week, including US job openings data, jobless claims data and Nonfarm Payrolls report. Malaysian market remained close on account of holiday.