Indian markets made a positive start and were trading firm in early deals on Friday with IT and Teck stocks leading the gainers. Information technology stocks emerged as the biggest support for the benchmarks after several large-cap names advanced strongly. The Nifty IT index rose 1.25%. Investors continued accumulating export-oriented technology stocks after a strong start to the June-quarter earnings season. Traders took note of report that Commerce and Industry Minister Piyush Goyal has said that India and the European Union (EU) have agreed to ink the free trade agreement by the end of this year. He said the pact will come into force in the first quarter of 2027. In stock specific development, index heavyweight Reliance Industries gained over 1.50% ahead of its June-quarter earnings due later in the day.
On the global front, Asian markets were trading mostly lower tracking negative cues from Wall Street overnight. US technology stocks fell sharply on Thursday as stocks of sophisticated chips extended their losses. On the geopolitical front, the continued military aggression between the US and Iran is also impacting Asian equity markets. Elevated oil prices are increasing the burden of higher foreign outflows on Asian economies. Meanwhile, Trading in South Korea was suspended due to a holiday after the government announced a temporary ban on new ETF listings linked to large tech companies.
The BSE Sensex is currently trading at 77750.43, up by 563.56 points or 0.73% after trading in a range of 77308.00 and 77772.63. There were 22 stocks advancing against 8 stocks declining on the index.
The top gaining sectoral indices on the BSE were IT up by 1.25%, TECK up by 0.77%, Energy up by 0.67%, Bankex up by 0.52% and Auto up by 0.49%, while Healthcare down by 1.06%, Telecom down by 0.97%, Industrials down by 0.59%, Capital Goods down by 0.49% and Basic Materials down by 0.26% were the top losing indices on BSE.
The top gainers on the Sensex were Infosys up by 2.22%, Tech Mahindra up by 2.10%, HCL Technologies up by 1.93%, TCS up by 1.63% and Reliance Industries up by 1.55%. On the flip side, Bharti Airtel down by 0.43%, Sun Pharma down by 0.35%, Trent down by 0.33%, ITC down by 0.16% and Interglobe Aviation down by 0.15% were the top losers.
Meanwhile, in a move to fast-track efforts to strengthen bilateral ties, Commerce and Industry Minister Piyush Goyal has said that India and the European Union (EU) have agreed to sign the Free Trade Agreement (FTA) by the end of calendar year 2026. He noted that the pact is likely to come into force in the first quarter of 2027, likely during February-March. He added that the agreement would create a wide range of opportunities for businesses on both sides.
On January 27, 2026, India and the EU announced the conclusion of negotiations for what has been described as the 'mother of all deals'. Under the pact, 93 per cent of Indian exports will enjoy duty-free access to the 27-member bloc, while imports of luxury cars and wines from the EU are expected to become more affordable.
The deal, concluded after negotiations spanning more than two decades, will create a market of around 2 billion people encompassing the world's fourth-largest economy, India, and the EU, the world's second-largest economic bloc. Together, India and the EU account for nearly 25 per cent of global GDP and about one-third of global trade, valued at around $11 trillion and $33 trillion, respectively.
Further, the minister invited Finnish companies to explore investment opportunities in India across sectors such as clean and green energy, biotechnology, and energy storage systems. He also highlighted that India has earmarked Rs 1.27 lakh crore for the second phase of the India Semiconductor Mission and urged Finnish firms to tap opportunities in the semiconductor sector.
The CNX Nifty is currently trading at 24231.30, up by 158.55 points or 0.66% after trading in a range of 24099.05 and 24231.85. There were 35 stocks advancing against 15 stocks declining on the index.
The top gainers on Nifty were JIO Financial Services up by 3.95%, Tech Mahindra up by 2.36%, HCL Technologies up by 2.00%, Infosys up by 1.99% and TCS up by 1.65%. On the flip side, Wipro down by 1.11%, Dr. Reddy's Labs. down by 0.76%, Cipla down by 0.73%, Sun Pharma down by 0.41% and Max Healthcare down by 0.41% were the top losers.
Asian markets were trading mostly in red; Nikkei 225 slipped 3257.54 points or 4.87% to 63,578.00, Taiwan Weighted lost 2217.87 points or 5.11% to 43,407.11, Hang Seng declined 505.6 points or 2.06% to 24,503.00, Shanghai Composite weakened 63.82 points or 1.64% to 3,818.59 and Straits Times fell 32.69 points or 0.59% to 5,506.69, while Jakarta Composite gained 33.22 points or 0.54% to 6,141.43.
