Key indices end marginally higher on Wednesday

Indian equity benchmarks gave up most of their early gains to end marginally higher on Wednesday, as investors booked profits amid elevated crude oil prices and persistent geopolitical tensions in the Middle East despite positive global cues. The rally earlier in the day was driven by gains in financial stocks after softer-than-expected US inflation data improved global risk appetite. 

Some of the important factors in trade:

Net direct tax collection surges 16.4% in FY27: The government data has showed that net direct tax collection increased 16.40 per cent to over Rs 6.51 lakh crore till July 13 of the current financial year (FY27). The growth was largely driven by higher corporate tax mop-up. 

External commercial borrowings touch $4.74 billion in May: The Reserve Bank of India (RBI) in its latest data report on ECB/FCCB has showed that Indian companies raised around $4.74 billion through external commercial borrowings (ECBs) in the month of May 2026. This was higher than $3.77 billion raised in April 2026.

RBI Governor urges banks to leverage artificial intelligence: Reserve Bank of India (RBI) Governor Sanjay Malhotra has asked banks to leverage advanced technologies, including artificial intelligence (AI), to enhance their outreach while ensuring robust cybersecurity and safeguards against fraud and data misuse.

Domestic passenger vehicle dispatches from companies to dealers rises 24% in June: The industry body -- Society of Indian Automobile Manufacturers (SIAM) has said that domestic passenger vehicle dispatches from companies to dealers grew 24.1% on year-on-year basis to 3,88,144 units in June 2026. Passenger vehicle dispatches stood at 3,12,851 units in June 2025. 

Global front: European markets were trading lower as escalating Middle East tensions and weak Chinese GDP growth data rendered the mood cautious. Asian markets settled mostly higher as a softer-than-expected U.S. inflation print helped reduce concerns of a possible interest-rate hike by the Federal Reserve in the near term. 

Finally, the BSE Sensex rose 130.49 points or 0.17% to 77,185.43 and the CNX Nifty was up by 26.45 points or 0.11% to 24,078.50.   

The BSE Sensex touched high and low of 77,646.27 and 76,982.82, respectively. There were 18 stocks advancing against 12 stocks declining on the index.

The top gaining sectoral indices on the BSE were Capital Goods up by 1.27%, Consumer Durables up by 0.76%, Consumer Discretionary up by 0.66%, Oil & Gas up by 0.63% and Industrials up by 0.53%, while Utilities down by 1.26%, Metal down by 1.08%, TECK down by 0.64%, IT down by 0.63% and Realty down by 0.46% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 3.08%, Ultratech Cement up by 2.77%, State Bank Of India up by 1.50%, Bajaj Finance up by 1.49% and Interglobe Aviation up by 1.09%. On the flip side, Power Grid down by 1.73%, Larsen & Toubro down by 1.69%, Tata Steel down by 1.65%, Infosys down by 1.41% and NTPC down by 1.12% were the top losers.

Meanwhile, the government data has showed that net direct tax collection increased 16.40 per cent to over Rs 6.51 lakh crore till July 13 of the current financial year (FY27). The growth was largely driven by higher corporate tax mop-up. 

During the period, net corporate tax collection rose 22 per cent to Rs 2.40 lakh crore, while net non-corporate tax (NCT) collections, which include taxes paid by individuals, Hindu Undivided Families (HUFs) and firms, grew nearly 12 per cent to over Rs 3.84 lakh crore. The government issued refunds worth Rs 1.22 lakh crore till July 13, marking a 14.57 per cent increase over the corresponding period last year. 

On a gross basis, direct tax collection increased 16.11 per cent to over Rs 7.73 lakh crore. Gross corporate tax collections stood at over Rs 3.35 lakh crore, while gross non-corporate tax (NCT) collections reached about Rs 4.12 lakh crore. For FY27, the government has set a direct tax collection target of Rs 26.97 lakh crore, representing a 15 per cent increase over the Rs 23.40 lakh crore collected in FY26.

CNX Nifty touched high and low of 24,220.35 and 24,010.55, respectively. There were 27 stocks advancing against 23 stocks declining on the index. 

The top gainers on Nifty were Ultratech Cement up by 2.91%, Eternal up by 2.80%, HDFC Life Insurance up by 2.16%, Shriram Finance up by 1.88% and Eicher Motors up by 1.60%. On the flip side, Hindalco Industries down by 2.13%, Power Grid down by 1.87%, Tata Steel down by 1.65%, Larsen & Toubro down by 1.45% and JSW Steel down by 1.44% were the top losers. 

European markets were trading lower; UK’s FTSE 100 decreased 27.48 points or 0.26% to 10,501.91, France’s CAC fell 15.45 points or 0.18% to 8,351.40 and Germany’s DAX lost 194.43 points or 0.77% to 24,952.60. 

Asian markets settled mostly higher on Wednesday tracking Wall Street’s gains overnight and as a softer-than-expected US inflation data helped reduce concerns of a possible interest-rate hike by the Federal Reserve in the near term. South Korea's Kospi jumped over 6%, led by SK Hynix Inc after its American depositary receipts surged 27%. However, overall gains were limited after the release of weak China GDP data and amid growing concerns that the United States and Iran may return to an all-out war. After announcing a reversal of plan to charge a 20% toll on cargo passing through the Strait of Hormuz, US President Donald Trump warned that the United States would strike bridges and power plants next week unless Tehran returns to the negotiating table.