Local equities continue to trade higher in morning deals

Indian equity benchmarks continued to trade higher in morning deals, amid foreign fund inflows and buying in blue-chip stocks. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,962.80 crore on Wednesday, according to exchange data. Traders took support as India and the Maldives have concluded negotiations for a bilateral investment treaty (BIT), and the text is undergoing legal scrubbing before the deal is signed. The two countries are also accelerating negotiations for a proposed free trade agreement (FTA) to further strengthen economic ties. Traders also took a note of India's Consul General in Johannesburg, S Koventhan, statement that several Indian companies have established a strong track record in rail networks, port modernisation, and power systems, and the country could become a partner in the development of infrastructure projects in South Africa. On the global front, Asian markets were trading mixed as concerns remain about a re-escalation in the Middle East conflict after the U.S. and Iran exchanged fresh strikes, with US President Donald Trump declaring the U.S.-Iran ceasefire ‘over’.

The BSE Sensex is currently trading at 77055.58, up by 551.98 points or 0.72% after trading in a range of 76576.14 and 77139.07. There were 21 stocks advancing against 9 stocks declining on the index.

The top gaining sectoral indices on the BSE were Realty up by 2.13%, Healthcare up by 2.01%, Telecom up by 1.68%, Consumer Durables up by 1.52% and FMCG up by 1.23%, while IT down by 0.51% and Metal down by 0.21% were the few losing indices on BSE.

The top gainers on the Sensex were Bharti Airtel up by 3.35%, Sun Pharma up by 3.23%, Eternal up by 2.50%, Asian Paints up by 1.26% and Adani Ports &SEZ up by 1.14%. On the flip side, Infosys down by 1.68%, TCS down by 1.31%, NTPC down by 1.15%, Bajaj Finance down by 1.05% and HCL Technologies down by 0.70% were the top losers.

Meanwhile, India's Consul General in Johannesburg, S Koventhan, has said that several Indian companies have established a strong track record in rail networks, port modernisation, and power systems, and the country could become a partner in the development of infrastructure projects in South Africa. Companies that participated in a two-day Africa Rail Expo expressed optimism about getting business as South Africa embarks on a major revamp of its rail infrastructure. 

The two-day event, which concluded on July 8, 2026, featured six small businesses from the sector, led by Pallavi Saha, Joint Director at the Engineering Export Promotion Council (EEPC), along with several multinational companies operating from India. The participants engaged with local industry representatives and agreed to have follow-up meetings.

Koventhan noted that ‘The participation of Indian companies at Africa Rail 2026 is a testimony to the robust commercial ties that exist between the two countries, and such participation will certainly pave the way for further collaborations in areas of transport, logistics and infrastructure. As South Africa is keen to modernise its rail and logistics ecosystem, Indian companies can offer affordable, reliable and sustainable solutions backed by rich experience in handling large-scale infrastructure projects.’

Besides, Pallavi Saha said that South Africa is one of India's top markets for engineering exports, and this prompted the EEPC to showcase its expertise at Africa Rail. Saha said the railway sector in India is progressing rapidly towards 100 per cent electrification, while embracing new concepts such as bullet trains and Vande Bharat. Saha added that the stringent certification requirement in India will also benefit exports into Africa.

The CNX Nifty is currently trading at 24055.35, up by 173.30 points or 0.73% after trading in a range of 23927.70 and 24076.80. There were 35 stocks advancing against 15 stocks declining on the index.

The top gainers on Nifty were Bharti Airtel up by 3.42%, Sun Pharma up by 3.07%, Eternal up by 2.44%, Max Healthcare up by 2.20% and Nestle India up by 1.77%. On the flip side, Dr. Reddy's Labs. down by 1.86%, Infosys down by 1.74%, TCS down by 1.33%, Hindalco Industries down by 1.07% and Bajaj Finance down by 1.05% were the top losers. 

Asian markets were trading mixed; Nikkei 225 surged 1115.95 points or 1.67% to 67,935.00, Taiwan Weighted added 1.22 points or 0% to 45,735.63, Jakarta Composite gained 16.43 points or 0.28% to 5,889.80 and Straits Times rose 39.94 points or 0.74% to 5,409.51.

On the flip side, Shanghai Composite weakened 18.39 points or 0.46% to 3,952.49, KOSPI dropped 2.25 points or 0.03% to 7,244.54 and Hang Seng declined 220.46 points or 0.92% to 23,979.00.