Indian equity benchmarks continued to trade in green in morning deals, helped by foreign fund inflows and crude oil prices coming back to the pre-war levels amid easing tensions in the West Asia. Foreign Institutional Investors (FIIs) bought equities worth Rs 243.03 crore on Monday, according to exchange data. Traders took a note of Commerce and Industry Minister Piyush Goyal’s statement that India and the European Union (EU) are likely to complete the legal scrubbing of the free trade agreement (FTA) within the next 15-20 days. India and the 27-nation bloc announced the conclusion of negotiations for the trade pact in January. Following the legal scrubbing, both sides are likely to sign the agreement by the end of this year and implement it next year. On the global front, Asian markets are trading mostly in red, dragged by technology stocks which came under significant selling pressure amid concerns over high valuations in AI-linked companies
The BSE Sensex is currently trading at 78453.01, up by 167.94 points or 0.21% after trading in a range of 78248.31 and 78561.28. There were 17 stocks advancing against 13 stocks declining on the index.
The top gaining sectoral indices on the BSE were IT up by 1.71%, TECK up by 1.31%, Consumer Durables up by 0.61%, Bankex up by 0.14% and Oil & Gas up by 0.06%, while Capital Goods down by 1.56%, Realty down by 1.39%, Industrials down by 1.37%, Power down by 1.09% and Basic Materials down by 0.72% were the top losing indices on BSE.
The top gainers on the Sensex were Titan Company up by 2.72%, Tech Mahindra up by 2.45%, Infosys up by 2.44%, TCS up by 2.08% and Eternal up by 1.73%. On the flip side, Trent down by 11.22%, Larsen & Toubro down by 1.36%, Bharat Electronics down by 1.06%, NTPC down by 0.76% and Interglobe Aviation down by 0.72% were the top losers.
Meanwhile, External Affairs Minister of India S. Jaishankar has held a meeting with King Hamad bin Isa Al Khalifa in Bahrain to advance discussions on strengthening bilateral partnership. After concluding his visit to Qatar, Jaishankar reached Bahrain for the second stop of his four-nation Gulf visit, scheduled from July 5 to 10, covering Kuwait and Oman as well.
During the ongoing visit, Jaishankar is meeting his counterparts and top leaders of the four Gulf countries to expand bilateral relations and exchange views on regional developments and issues of mutual interest.
Jaishankar's Gulf visit comes at a time of significant political shifts in West Asia following the signing of an agreement aimed at ending the US-Iran conflict. During his Qatar visit, Jaishankar met Prime Minister Mohammed bin Abdulrahman Al-Thani and reviewed cooperation in energy, trade, investments, connectivity and security.
The CNX Nifty is currently trading at 24484.80, up by 54.45 points or 0.22% after trading in a range of 24423.50 and 24505.10. There were 27 stocks advancing against 23 stocks declining on the index.
The top gainers on Nifty were Titan Company up by 2.73%, SBI Life Insurance up by 2.62%, Tech Mahindra up by 2.45%, Infosys up by 2.34% and TCS up by 2.06%. On the flip side, Trent down by 11.12%, Coal India down by 1.63%, Larsen & Toubro down by 1.38%, Adani Enterprises down by 1.24% and Bharat Electronics down by 1.00% were the top losers.
Asian markets are trading mostly in red; Nikkei 225 slipped 1607.69 points or 2.31% to 68,130.00, Taiwan Weighted lost 901.69 points or 1.94% to 45,654.70, Shanghai Composite weakened 64.71 points or 1.6% to 3,976.53, KOSPI dropped 646.85 points or 8.74% to 7,404.48 and Hang Seng declined 183.32 points or 0.78% to 23,433.00.
On the flip side, Straits Times rose 34.67 points or 0.66% to 5,294.48 and Jakarta Composite gained 27.46 points or 0.46% to 5,943.53.
