Domestic equity indices added more points in late morning deals owing to buying in Tech Mahindra, Infosys, HCL Technologies, Titan Company and TCS companies’ stocks. There were encouragements in markets as Commerce and Industry Minister Piyush Goyal said India and the European Union (EU) are expected to complete the legal scrubbing of the free trade agreement (FTA) in the next 15-20 days. 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. On the BSE sectoral front, IT, TECK, Consumer Durables, Bankex, and Auto emerged as the top gainers, while Capital Goods, Realty, Industrials, Power, and Telecom witnessed selling pressure.
On the global front, Asian markets were trading mostly in red despite positive cues from the US markets overnight. Back home, in the stock specific development, Clean Max Enviro Energy Solutions surged as the company successfully commissioned around 530 MW of renewable energy (RE) capacity during Q1 FY27, its highest-ever quarterly commissioning performance.
The BSE Sensex is currently trading at 78595.81, up by 310.74 points or 0.40% after trading in a range of 78248.31 and 78617.97. There were 17 stocks advancing against 13 stocks declining on the index.
The top gaining sectoral indices on the BSE were IT up by 2.44%, TECK up by 1.84%, Consumer Durables up by 0.49%, Bankex up by 0.22% and Auto up by 0.20%, while Capital Goods down by 1.40%, Realty down by 1.27%, Industrials down by 1.15%, Power down by 0.99% and Telecom down by 0.74% were the top losing indices on BSE.
The top gainers on the Sensex were Tech Mahindra up by 3.56%, Infosys up by 3.43%, HCL Technologies up by 2.91%, Titan Company up by 2.59% and TCS up by 2.40%. On the flip side, Trent down by 11.26%, Bharat Electronics down by 0.81%, Larsen & Toubro down by 0.56%, ITC down by 0.50% and Interglobe Aviation down by 0.49% were the top losers.
Meanwhile, CRISIL Ratings in its latest report has said that gold loans surpassed vehicle loans to become the largest securitised asset class in the April-June quarter of the current fiscal (Q1FY27), marking a significant shift in the overall asset class composition. It said securitisation, a process through which lenders pool loans and sell them to investors to raise funds and free up capital for fresh lending, saw issuances rising 22 per cent year-on-year to about Rs 60,000 crore in Q1FY27.
The report said over 98 per cent of quarterly issuances came from non-banking financial companies (NBFCs), unlike previous peak periods when banks had also contributed significantly. During Q1FY27, gold loans accounted for around 31 per cent of total securitisation volume, while the share of vehicle loans eased to about 26 per cent due to lower issuances from a major originator.
According to the report, the rise in gold loan securitisation, along with subdued activity by a large private bank that had driven sizeable retail mortgage-backed securitisation (MBS) volumes last fiscal, reduced the share of MBS to 12 per cent from 21 per cent a year ago. Business loan securitisation rose to 10 per cent from 7 per cent, driven by secured business loan pools, while microfinance loans rose to 14 per cent from 11 per cent, helped by better portfolio performance and demand for priority-sector assets.
The report further said changing asset mix also influenced the mode of securitisation, with direct assignment transactions accounting for around 54 per cent of the total volume, compared with 46 per cent for pass-through certificate (PTC) transactions. Nearly 87 per cent of securitised gold loans were executed through the direct assignment (DA) route during the quarter. It noted that banks, including public sector, private and foreign lenders, invested in around 90 per cent of the issuances during the quarter. Other investors included large NBFCs, alternative investment funds, mutual funds, insurance companies, high-net-worth individuals and family offices.
The CNX Nifty is currently trading at 24519.55, up by 89.20 points or 0.37% after trading in a range of 24423.50 and 24525.75. There were 29 stocks advancing against 21 stocks declining on the index.
The top gainers on Nifty were Tech Mahindra up by 3.54%, Infosys up by 3.44%, SBI Life Insurance up by 3.13%, HCL Technologies up by 2.91% and Titan Company up by 2.73%. On the flip side, Trent down by 11.36%, Coal India down by 1.69%, Adani Enterprises down by 1.10%, Hindalco Industries down by 0.93% and Bharat Electronics down by 0.89% were the top losers.
Asian markets were trading mostly in red; Nikkei 225 slipped 1192.69 points or 1.71% to 68,545.00, Taiwan Weighted lost 964.36 points or 2.07% to 45,592.03, Shanghai Composite weakened 46.81 points or 1.16% to 3,994.43, KOSPI dropped 468.73 points or 5.82% to 7,582.60 and Hang Seng declined 140.32 points or 0.59% to 23,476.00. However, Jakarta Composite gained 27.46 points or 0.46% to 5,943.53 and Straits Times rose 35.84 points or 0.68% to 5,295.65.
