Indian markets slip further; hover near day's lows

Indian markets slipped further in early afternoon deals to hover near day’s low points, on the back of sustained selling at Banking and Telecom counters. Oil prices continued to surge amid escalating tensions in the Middle East, raising concerns over the potential impact on global energy supplies, inflation and the current account deficit. Traders also got cautious, as the Global Trade Research Initiative (GTRI) has cautioned that the proposed steep US tariffs on generic medicines could have a significant impact on India's largest pharmaceutical export market, although the effect is expected to vary across product categories. 

On the global front, Asian markets were trading mostly in green, after South Korea's gross domestic product expanded a seasonally adjusted 0.6 percent on quarter in the second quarter of 2026. That beat forecasts for an increase of 0.4 percent following the 1.8 percent jump in the previous three months.

The BSE Sensex is currently trading at 76426.12, down by 328.93 points or 0.43% after trading in a range of 76344.67 and 76726.66. There were 11 stocks advancing against 19 stocks declining on the index.

The only gaining sectoral indices on the BSE were Auto up by 0.90% and Consumer Disc up by 0.26%, while Bankex down by 1.13%, Telecom down by 0.95%, Realty down by 0.88%, Oil & Gas down by 0.73% and Power down by 0.71% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 3.65%, Mahindra & Mahindra up by 2.28%, Bajaj Finserv up by 0.88%, Kotak Mahindra Bank up by 0.79% and ITC up by 0.69%. On the flip side, Infosys down by 0.98%, State Bank of India down by 0.90%, HDFC Bank down by 0.88%, Bajaj Finance down by 0.81% and Bharti Airtel down by 0.80% were the top losers.

Meanwhile, with an aim to deepen maritime cooperation between India and Panama, Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal held bilateral talks with Panama's Minister of Foreign Affairs, Javier Martinez-Acha Vasquez. Both sides have identified logistics, shipping, maritime security, skill development and digital transformation as the key pillars of an expanded strategic partnership. Sonowal has emphasized on combining Panama's strategic logistics strengths with India's growing maritime capabilities to build resilient supply chains, strengthen global connectivity and create new opportunities for trade, investment, innovation and sustainable growth. 

With India emerging as a global ports leader and Panama serving as one of the world's foremost maritime logistics hubs, both countries agreed that closer collaboration and the exchange of best practices would unlock new opportunities for trade, connectivity and investment across the Americas. Sonowal highlighted India's rapid transformation through sustained investments in ports, shipping, inland waterways, logistics, shipbuilding, cruise tourism and green maritime initiatives. 

Further, he reiterated that Panama is India's natural gateway to Central America, Latin America and the Caribbean, and stressed the need to improve shipping connectivity, deepen logistics partnerships and accelerate institutional cooperation to realise the untapped potential of bilateral trade. Moreover, he proposed expediting discussions on a bilateral agreement on maritime transportation and port development, expanding cooperation in green ship recycling, strengthening seafarer welfare and skill development, and promoting collaboration in port modernisation, warehousing, digital innovation and maritime infrastructure.

The CNX Nifty is currently trading at 23899.65, down by 96.60 points or 0.40% after trading in a range of 23876.20 and 23990.75. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Bajaj Auto up by 2.60%, Mahindra & Mahindra up by 1.97%, Eternal up by 1.56%, SBI Life Insurance up by 1.37% and Eicher Motors up by 1.32%. On the flip side, Adani Enterprises down by 2.98%, Nestle India down by 2.75%, Cipla down by 2.24%, Dr. Reddy's  down by 2.17% and Shriram Finance down by 1.88% were the top losers.

Asian markets were trading mostly in green; Jakarta Composite gained 90.32 points or 1.43% to 6,424.80, KOSPI increased 299.19 points or 4.22% to 7,096.89, Taiwan Weighted added 25.03 points or 0.06% to 44,850.81, Hang Seng advanced 293.34 points or 1.18% to 25,186.00, Nikkei 225 surged 249.4 points or 0.38% to 66,365.00 and Shanghai Composite strengthened 9.75 points or 0.25% to 3,876.78, while Straits Times fell 36.62 points or 0.65% to 5,558.80.