Post Session: Quick Review

Indian equity benchmarks ended higher on Tuesday as easing geopolitical tensions after Israel and Iran agreed to halt attacks. After making a positive start, soon indices erased most of their gains amid continued selling pressure in IT stocks and sustained foreign institutional investors (FIIs) outflows. However, markets regained momentum in the afternoon session and settled near the day's highs, led by strong buying in PSU bank, auto, and financial stocks.

Some of the important factors in trade:

India’s merchandise exports rise 15% during April-May: Some support came amid reports that India’s merchandise exports have recorded about 15 per cent growth during April-May 2026-27 despite global economic uncertainties.

India, UK talks progressing on resolving issues: Sentiments remained upbeat as the report stated that discussions between India and the UK are progressing well to resolve certain outstanding issues, including Britain's steel safeguard measure, for the implementation of the free trade agreement.

Fitch cuts FY27 growth projection to 6.4%: Traders overlooked that Fitch Ratings report where it lowered GDP growth projections for the current fiscal to 6.4 per cent from the earlier estimate of 6.7 per cent, saying that the US-Iran war will slow down the economy in the September and December quarters.

On the global front: European markets are trading mostly in green, while Asian markets closed mostly higher, amid Middle East peace hopes following Iran and Israel agreeing to halt attacks against each other.

The BSE Sensex ended at 73918.76, up by 394.50 points or 0.54% after trading in a range of 73426.18 and 74035.41. There were 20 stocks advancing against 10 stocks declining on the index. (Provisional)

The top gaining sectoral indices on the BSE were Bankex up by 2.18%, Realty up by 1.76%, Auto up by 1.34%, Industrials up by 1.17% and Consumer Discretionary up by 1.10%, while Utilities down by 0.63%, TECK down by 0.60% and IT down by 0.25% were the few losing indices on BSE. (Provisional)

The top gainers on the Sensex were Interglobe Aviation up by 3.86%, SBI up by 2.27%, ICICI Bank up by 1.99%, Axis Bank up by 1.92% and Bajaj Finance up by 1.84%. On the flip side, Titan Company down by 2.14%, NTPC down by 1.82%, Power Grid Corp down by 1.67%, Tech Mahindra down by 1.02% and Bharti Airtel down by 0.93% were the top losers. (Provisional)

Meanwhile, commerce and Industry Minister Piyush Goyal has said that the Rs 33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) scheme will help attract huge investments, create jobs, and provide modern social infrastructure in the 100 industrial parks to be developed under this initiative. To create plug-and-play industrial parks focused on industries best suited to specific locations, he said that the government will work closely with industry to identify the most suitable sectors and infrastructure requirements for each location, whether for chemicals, manufacturing, data centres or other industries.

Moreover, the government will explore earmarking areas for start-ups, deep-tech enterprises, technology-oriented businesses, research and development activities, and innovation-led enterprises. To make advanced testing infrastructure accessible to the investors within the parks, he noted that the government will pursue to establish modern testing facilities in partnership with institutions such as BIS, Export Inspection Agency, and FSSAI. He added that the possibility of creating dedicated international enclaves in partnership with countries such as Japan, Singapore, the Republic of Korea and Switzerland could be explored to facilitate investment and provide a familiar environment for expatriate professionals working in India.

The BHAVYA scheme was approved by the Union Cabinet on March 18, 2026, to develop 100 plug-and-play industrial parks across the country. The scheme is aimed at developing world-class industrial infrastructure, unlock manufacturing potential and drive the country's economic growth. Applicants can submit their applications through the scheme’s portal. Applications received on the portal between June 1 and July 31 would be for the first phase of 20 parks, while a further 30 parks would be taken up based on applications received up to September 30 this year. Subsequent phases would be implemented based on the experience and learnings from the initial rounds. 

The CNX Nifty ended at 23242.10, up by 119.10 points or 0.52% after trading in a range of 23104.45 and 23279.40. There were 29 stocks advancing against 21 stocks declining on the index. (Provisional)

The top gainers on Nifty were Interglobe Aviation up by 4.08%, JIO Financial Services up by 2.34%, SBI up by 2.11%, Axis Bank up by 2.07% and Apollo Hospital up by 2.00%. On the flip side, Titan Company down by 2.25%, ONGC down by 2.13%, NTPC down by 1.86%, Power Grid Corp down by 1.58% and Eternal down by 1.13% were the top losers. (Provisional)

European markets were trading mostly in green; France’s CAC rose 72.31 points or 0.88% to 8,271.60 and Germany’s DAX gained 123.48 points or 0.5% to 24,739.70, while UK’s FTSE 100 decreased 30 points or 0.29% to 10,343.20. 

Asian markets settled mostly higher on Tuesday, tracking Wall Street’s gains overnight as investors returned to artificial intelligence-linked names, while risk appetite improved after Israel and Iran halted attacks on each other following a warning from US President Donald Trump. Chinese shares rose, despite heightened US-China tensions after the Pentagon accused some of China’s biggest companies, including Alibaba, Baidu and BYD of supporting the Chinese military. Japanese shares gained, while the yen held near a one-month low against the dollar amid reports that the Bank of Japan will raise its short-term policy rate and consider halting bond tapering from April 2027 at its upcoming monetary policy meeting on June 15-16. Moreover, Seoul shares surged over 8% after data showed South Korea's economy expanded at a faster pace in the first quarterly than initially reported.