Benchmarks continued their weak trade just below the neutral lines in late afternoon session ahead of monthly expiry of Nifty F&O contracts. Index heavy weights like Infosys, ICICI Bank and TCS were the key contributors for the weakness. Further, uncertainty over the next round of US-Iran negotiations in Qatar and fund outflows by foreign institutional investors (FIIs) have sparked caution among investors. The FIIs were the net sellers on Monday, offloading securities worth Rs 1,350.10 crore. Traders also maintained risk adverse approach after Commerce and Industry Minister Piyush Goyal said that India's negotiations for free trade agreements (FTAs) with Israel and the six-nation Gulf Cooperation Council (GCC) are currently on hold due to the ongoing West Asia crisis.
On the global front, Asian equity markets were trading mixed as traders kept close eye on developments between Iran and US. European equity markets were trading higher as crude oil prices moved back to pre-Iran war levels.
The BSE Sensex is currently trading at 76662.99, down by 65.38 points or 0.09% after trading in a range of 76438.34 and 77037.36. There were 13 stocks advancing against 17 stocks declining on the index.
The top gaining sectoral indices on the BSE were Realty up by 1.75%, Consumer Durables up by 1.47%, Consumer Discretionary up by 1.12%, Healthcare up by 0.97% and Auto up by 0.77%, while IT down by 2.25%, TECK down by 1.11%, FMCG down by 0.43%, Utilities down by 0.15% and Energy down by 0.05% were the top losing indices on BSE.
The top gainers on the Sensex were Maruti Suzuki India up by 5.34%, Titan Company up by 3.39%, Bajaj Finance up by 2.68%, Eternal up by 2.16% and Adani Ports & SEZ up by 2.10%. On the flip side, Infosys down by 3.18%, TCS down by 3.15%, Tech Mahindra down by 2.34%, HCL Technologies down by 2.18% and ITC down by 1.67% were the top losers.
Meanwhile, Commerce and Industry Minister Piyush Goyal has said that India's negotiations for free trade agreements (FTAs) with Israel and the six-nation Gulf Cooperation Council (GCC) are currently on hold due to the ongoing West Asia crisis. However, negotiations are progressing with Chile, Mexico, the South African Customs Union (SACU), the Russia-led Eurasian Economic Union (EAEU), and Mercosur, while discussions with Canada are at a very advanced stage.
Mercosur comprises Brazil, Argentina, Uruguay, and Paraguay. The EAEU includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan, while the SACU consists of South Africa, Namibia, Botswana, Lesotho, and Eswatini. GCC is a union of six countries in the Gulf region: Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain. Goyal said that India has finalised nine FTAs in the last three and a half years, covering 38 developed and prosperous countries, including the UK, the EU, EFTA nations, Mauritius, the UAE, Oman, Australia, and New Zealand.
Talking about India-Greece trade relations, the minister said that the bilateral trade, currently valued at $1.3 billion, remains below its potential and both countries should work to increase it. He suggested four areas where companies of both countries can increase collaboration. These areas include shipping and logistics, clean energy (Solar, wind, offshore wind, green hydrogen, and nuclear power), technology, and processed food. He added that strengthening ties with Greece aligns with India's broader goal of raising exports to $1 trillion in the current fiscal year (FY27), up from $863 billion in 2025-26.
The CNX Nifty is currently trading at 23942.85, down by 3.40 points or 0.01% after trading in a range of 23851.95 and 24035.55. There were 25 stocks advancing against 25 stocks declining on the index.
The top gainers on Nifty were Maruti Suzuki India up by 5.46%, Titan Company up by 3.39%, Adani Enterprises up by 2.93%, Bajaj Finance up by 2.84% and Tata Motors Passenger Vehicles up by 2.74%. On the flip side, Eicher Motors down by 4.06%, Infosys down by 3.15%, TCS down by 3.07%, Tata Consumer Products down by 2.81% and Wipro down by 2.77% were the top losers.
Asian equity markets were trading mixed; Nikkei 225 surged 937.89 points or 1.33% to 70,406.00, Taiwan Weighted added 1126.01 points or 2.44% to 46,125.91, KOSPI increased 81.83 points or 0.97% to 8,476.48 and Shanghai Composite strengthened 20.5 points or 0.5% to 4,094.40, while Hang Seng declined 146.68 points or 0.64% to 22,880.00, Straits Times fell 29.72 points or 0.57% to 5,179.03 and Jakarta Composite plunged 163.16 points or 2.88% to 5,657.63.
European equity markets were trading higher; UK’s FTSE 100 increased 56.73 points or 0.54% to 10,540.95, France’s CAC rose 23.37 points or 0.28% to 8,390.70 and Germany’s DAX gained 259.91 points or 1.04% to 24,886.80.
