Indian equity benchmarks maintained their uptrend in morning session, following a rally in global markets and a drop in crude oil prices after US President Donald Trump declared that his country has ended the war with Iran. Traders took support with the Reserve Bank data showing that bank credit grew 17.44 per cent year-on-year in May, marking the ninth consecutive month of double-digit expansion, reflecting sustained demand for loans from both retail and corporate borrowers. Traders took a note of Commerce and Industry Minister Piyush Goyal’s statement that countries safeguard their domestic industries, and India is no exception, but the country remains committed to navigating trade challenges through dialogue, cooperation, and mutually beneficial engagement. Sector-wise, Agriculture sector’s stocks remained in watch as the latest government data showed India's horticulture production is estimated to rise 2 per cent to 377.77 million tonnes during the 2025-26 crop year, mainly on better output of fruits and vegetables. On the global front, Asian markets were trading higher tracking overnight gains on Wall Street following U.S. President Donald Trump calling off strikes against Iran.
The BSE Sensex is currently trading at 74560.29, up by 727.74 points or 0.99% after trading in a range of 74453.39 and 74859.16. There were 26 stocks advancing against 4 stocks declining on the index.
The top gaining sectoral indices on the BSE were Telecom up by 1.92%, Industrials up by 1.77%, Realty up by 1.47%, Capital Goods up by 1.36% and Consumer Durables up by 1.35%, while there was no losing sectoral indices on the BSE.
The top gainers on the Sensex were Interglobe Aviation up by 3.32%, Eternal up by 2.53%, HDFC Bank up by 1.96%, Larsen & Toubro up by 1.80% and Bajaj Finance up by 1.75%. On the flip side, Tech Mahindra down by 1.17%, HCL Technologies down by 0.71%, Tata Steel down by 0.56% and Power Grid Corporation down by 0.49% were the top losers.
Meanwhile, Union Textiles Minister Giriraj Singh has said that the government is targeting to increase size of India’s textile market, including domestic as well as exports, from around Rs 16 lakh crore at present to Rs 33 lakh crore by 2030-31. While outlining the textile ministry's initiatives and achievements during the current Narendra Modi-led government's tenure, he said efforts are underway to increase the annual income of handloom weavers to Rs 5 lakh annually by providing them training, raw material, design technology, and market access.
He stated ‘We have 29 Weaving Service Centres in the handloom sector... Starting from North East's Guwahati, this model has been established in six states wherein our aim is to skill and upskill them and after training, give them the required raw material, design and technology, along with a market for clothing. Through this, our target is to increase the income of every weaver to Rs 5 lakh (annually).’
He highlighted that the number of people formally working in the textile sector rose from 2.8 crore in 2014 to 5.3 crore in 2024-25. Besides, He noted that India imported 46.10 lakh stitching machines for the garment sector during the 10 years of the Congress-led UPA government, whereas during the Narendra Modi-led government tenure till 2024-25, more than 2.87 crore machines were imported, which implies an increase in employment during the period as they are used by workers.
The CNX Nifty is currently trading at 23349.85, up by 188.25 points or 0.81% after trading in a range of 23322.65 and 23455.95. There were 40 stocks advancing against 10 stocks declining on the index.
The top gainers on Nifty were Interglobe Aviation up by 3.30%, Eternal up by 2.53%, Shriram Finance up by 2.45%, HDFC Bank up by 2.03% and Bajaj Finance up by 1.79%. On the flip side, ONGC down by 1.66%, Bajaj Auto down by 1.23%, Tech Mahindra down by 1.21%, Nestle down by 0.76% and HCL Technologies down by 0.73% were the top losers.
All Asian markets were trading higher; Nikkei 225 surged 2319.73 points or 3.61% to 66,537.00, Taiwan Weighted added 991.21 points or 2.3% to 44,140.67, Jakarta Composite gained 157.52 points or 2.61% to 6,043.55, Shanghai Composite strengthened 49.9 points or 1.25% to 4,036.91, KOSPI increased 596.53 points or 7.68% to 8,360.48, Hang Seng advanced 452.71 points or 1.87% to 24,702.00 and Straits Times rose 19.55 points or 0.39% to 5,007.65.
