Domestic equity indices maintained their gains in late morning deals as market participants indulged in enlarging their positions. Heavy buying in Tech Mahindra, Reliance Industries, Infosys, HCL Technologies, and TCS helped the Sensex and Nifty trade above their psychological levels of 77,200 and 24,150, respectively. Falling crude oil prices in internation markets supported domestic sentiments. There were encouragements in markets as India and South Korea have held discussions on strengthening cooperation between the two countries in areas such as digital governance, e-government services, public administration, capacity development, and citizen-centric service delivery. Most of sectoral indices on the BSE were trading in green led by IT, Telecom, TECK, Energy and Oil & Gas.
On the global front, Asian markets were trading mostly in green as the U.S. and Iran made progress during talks in Switzerland toward reaching a final deal within 60 days, including the agreement to establish a committee and a mechanism to end hostilities in Lebanon. Back home, Information Technology (IT) industry related stocks were in focus after Anthropic CEO Dario Amodei warned that leading AI companies may need to generate hundreds of billions of dollars in revenue to justify their enormous capital expenditures, arguing that firms unable to reach that scale could face existential risks as AI infrastructure costs continue to soar.
The BSE Sensex is currently trading at 77287.09, up by 484.19 points or 0.63% after trading in a range of 77008.02 and 77325.56. There were 20 stocks advancing against 10 stocks declining on the index.
The top gaining sectoral indices on the BSE were IT up by 1.27%, Telecom up by 1.23%, TECK up by 1.06%, Energy up by 1.05% and Oil & Gas up by 0.92%, while Consumer Durables down by 0.60% was the only losing indices on BSE.
The top gainers on the Sensex were Tech Mahindra up by 2.21%, Reliance Industries up by 2.19%, Infosys up by 1.50%, HCL Technologies up by 1.12% and TCS up by 1.08%. On the flip side, Titan down by 0.96%, Asian Paints down by 0.91%, Power Grid down by 0.56%, Adani Ports down by 0.53% and ITC down by 0.44% were the top losers.
Meanwhile, ratings agency ICRA in its latest report has said that passenger vehicle (PV) sales in India are projected to grow 4-6 per cent in the current fiscal year (FY27), supported by steady consumer demand, improved affordability following GST rate reductions, and continued strength in the utility vehicle segment.
According to the report, passenger vehicle wholesale volumes registered a robust 27 per cent year-on-year increase in FY26, reaching 4.4 lakh units, while retail sales rose 33 per cent, driven by strong customer demand, new model launches, and an extended wedding season during the summer months. However, it cautioned that higher fuel and commodity prices, along with the possibility of a weak monsoon, could pose challenges to the sector. It said utility vehicles remained the key growth driver, accounting for nearly 68 per cent of total passenger vehicle sales in FY26. It noted that a recovery in demand was also visible across mini and compact car categories following the GST rate cuts introduced in September last year.
On the export front, the report said passenger vehicle shipments remained healthy, growing 13 per cent year-on-year in May 2026, reflecting an increasing supply push by Indian automakers in global markets. Meanwhile, it said the adoption of electric vehicles (EV) gained further momentum, with EV penetration in the passenger vehicle segment increasing to around 6 per cent in the early months of FY27.
The CNX Nifty is currently trading at 24152.20, up by 139.10 points or 0.58% after trading in a range of 24073.15 and 24168.05. There were 36 stocks advancing against 14 stocks declining on the index.
The top gainers on Nifty were Cipla up by 3.95%, Tata MotorsPassenger up by 2.43%, Tech Mahindra up by 2.31%, Reliance Industries up by 2.14% and Infosys up by 1.53%. On the flip side, Max Healthcare down by 1.29%, Titan down by 0.90%, Asian Paints down by 0.78%, Power Grid down by 0.56% and Shriram Finance down by 0.49% were the top losers.
Asian markets were mostly trading in the green; Nikkei 225 surged 1239.94 points or 1.74% to 72,490.00, Taiwan Weighted added 1276.31 points or 2.67% to 47,741.51, Shanghai Composite strengthened 51.78 points or 1.27% to 4,142.26, KOSPI increased 36.59 points or 0.4% to 9,089.01. However, Hang Seng declined 165.81 points or 0.69% to 23,759.00, Straits Times fell 10.56 points or 0.2% to 5,182.14 and Jakarta Composite plunged 77.21 points or 1.27% to 6,099.93.
