Bulls maintained their firm control over Indian equity markets in early afternoon deals, with both Sensex and Nifty holding strong gains, on the back of heavy buying at IT and Realty counters despite weak cues from other Asian markets amid escalating tensions in the Middle East. Sentiments remained upbeat, as FICCI President Anant Goenka said that India's corporate sector has entered the current financial year on a firm footing, with demand holding up across most parts of the economy despite inflationary pressures.
On the global front, Asian markets were trading mostly in red, after Singapore's non-oil domestic export growth eased sharply at the end of the second quarter. Non-oil domestic exports grew 20.7 percent year-over-year in June, much slower than the 38.4 percent surge in the previous month.
The BSE Sensex is currently trading at 77956.71, up by 769.84 points or 1.00% after trading in a range of 77308.00 and 78024.73. There were 23 stocks advancing against 7 stocks declining on the index.
The top gaining sectoral indices on the BSE were IT up by 1.24%, Realty up by 0.80%, Bankex up by 0.79%, Auto up by 0.62% and Energy up by 0.59%, while Telecom down by 1.51%, Healthcare down by 1.43%, Capital Goods down by 1.38%, Industrials down by 1.00% and Power down by 0.84% were the top losing indices on BSE.
The top gainers on the Sensex were Tech Mahindra up by 3.14%, TCS up by 2.62%, Kotak Mahindra Bank up by 2.49%, Reliance Industries up by 2.16% and Infosys up by 1.91%. On the flip side, Bharti Airtel down by 0.74%, Tata Steel down by 0.49%, Sun Pharma down by 0.46%, Ultratech Cement down by 0.44% and Maruti Suzuki India down by 0.23% were the top losers.
Meanwhile, the NITI Aayog in a report titled ‘Roadmap for Building India as a Leading BioEconomy Powerhouse by 2035’ has said that with focused, mission-driven implementation, India has the potential to expand its bioeconomy to $691 billion by 2035 and $2.6 trillion by 2047, generating over 30 million high-value jobs and establishing itself among the world's top three biotechnology powers. It said a bioeconomy refers to an economic model that leverages renewable biological resources to produce food, energy and industrial products.
To achieve this vision, the report said the country must move from fragmented initiatives to a coordinated national execution architecture. It advocates launching mission-mode BioMissions to accelerate growth in priority sectors, establishing empowered committees to drive cross-ministerial coordination, implementing regulatory reforms to accelerate approvals while ensuring safety and trust and a developing bioscience leadership and talent pipeline. It also proposes the creation of a Rs 50,000 crore BioEconomy Growth Fund to support innovation, infrastructure, commercial scale-up and biomanufacturing.
The report also set out a strategic proposition for India to transition from traditional biological R&D to AI-enabled biotechnology and next-generation biomanufacturing, driven by deeper collaboration across ministries, departments, academia, industry and startups. It noted that India stands at a pivotal moment in the global biological century, with its bioeconomy expanding 16-fold from $10 billion in 2014 to $195.3 billion in 2025, now accounting for 4.8 per cent of the country's GDP.
The CNX Nifty is currently trading at 24277.75, up by 205.00 points or 0.85% after trading in a range of 24099.05 and 24288.90. There were 34 stocks advancing against 15 stocks declining, while 1 stock remained unchanged on the index.
The top gainers on Nifty were JIO Financial up by 3.50%, Tech Mahindra up by 2.90%, TCS up by 2.74%, Kotak Mahindra Bank up by 2.64% and Hindustan Unilever up by 1.93%. On the flip side, Dr. Reddy's down by 1.38%, Wipro down by 1.30%, Cipla down by 1.27%, Max Healthcare down by 1.07% and Hindalco Industries down by 1.05% were the top losers.
Asian markets were trading mostly in red; Taiwan Weighted lost 2953.71 points or 6.92% to 42,671.27, Hang Seng declined 527.6 points or 2.11% to 24,481.00, Nikkei 225 slipped 3115.54 points or 4.89% to 63,720.00, Straits Times fell 32.54 points or 0.59% to 5,506.84 and Shanghai Composite weakened 118.26 points or 3.14% to 3,764.15, while Jakarta Composite gained 41.17 points or 0.67% to 6,149.38.
