Indian equity benchmarks continued to trade mixed in morning deals, following introduction of a new auction mechanism for shares having futures and options (F&O) contracts. Investors also tracked the latest developments in the U.S.-Iran conflict and looked forward to the upcoming RBI's monetary policy decision for directional cues. Meanwhile, the Government has proposed significant relaxations to the eligibility criteria for Eligible Investment Funds (EIFs) managed from India, aiming to strengthen the country's position as a global fund management hub. Under the proposed Taxation and Other Laws (Amendment) Bill, 2026, offshore funds seeking tax exemption on their global income would no longer be required to meet several existing conditions. On the global front, Asian markets were trading mixed as traders remain cautious while being optimistic about peace talks to end the conflict in the Middle East after President Donald Trump canceled a planned attack on Iran in favour of the talks.
The BSE Sensex is currently trading at 78671.09, up by 32.06 points or 0.04% after trading in a range of 78663.78 and 79143.15. There were 21 stocks advancing against 9 stocks declining on the index.
The top gaining sectoral indices on the BSE were Capital Goods up by 1.51%, Industrials up by 0.96%, Metal up by 0.83%, Power up by 0.82% and Consumer Durables up by 0.60%, while IT down by 0.37% and TECK down by 0.32% were the top losing indices on BSE.
The top gainers on the Sensex were Asian Paints up by 1.56%, Bajaj Finance up by 1.43%, Trent up by 1.38%, Bharat Electronics up by 1.29% and Tata Steel up by 1.08%. On the flip side, Infosys down by 1.07%, Hindustan Unilever down by 0.63%, TCS down by 0.52%, Tech Mahindra down by 0.50% and HDFC Bank down by 0.50% were the top losers.
Meanwhile, the government has increased the windfall tax on exports of petrol, diesel, and aviation turbine fuel (ATF) for the fortnight starting August 3, 2026. The rate of special additional excise duty (SAED) on export of diesel will be Rs 25.5 per litre, up from Rs 15.5 per litre. SAED on export of ATF will be Rs 22 per litre, as against Rs 14.5 per litre earlier. Duty on petrol exports has been raised to Rs 3.5 per litre, from Rs 2.5 per litre levied on July 16.
Amid escalating tensions in West Asia, the government imposed an export duty on diesel and ATF on March 27 and revised the rate every fortnight. Beginning May 16, the levy was imposed on petrol exports. According to the ministry, that there is no change in the existing duty rates on petrol and diesel cleared for domestic consumption.
The windfall tax was levied to increase domestic availability of the fuel amid the war in West Asia. It was also aimed at preventing exporters from taking undue advantage due to price differences as global crude oil prices had risen since the war began. The windfall tax was intended to ensure domestic availability of petroleum products by disincentivising exports amid the West Asia crises.
The CNX Nifty is currently trading at 24582.90, down by 191.40 points or 0.77% after trading in a range of 24580.90 and 24703.90. There were 12 stocks advancing against 38 stocks declining on the index.
The top gainers on Nifty were JIO Financial Services up by 1.14%, Hindalco Industries up by 1.05%, Trent up by 0.85%, Eternal up by 0.66% and Apollo Hospital up by 0.48%. On the flip side, Grasim Industries down by 3.14%, Titan Company down by 2.26%, Bajaj Auto down by 2.20%, HDFC Life Insurance down by 1.92% and Infosys down by 1.83% were the top losers.
Asian markets are trading mixed; Nikkei 225 slipped 174.9 points or 0.27% to 63,580.00, Taiwan Weighted lost 149.34 points or 0.34% to 43,237.07, KOSPI dropped 75.78 points or 1.21% to 6,181.67 and Hang Seng declined 150.4 points or 0.58% to 25,859.00.
On the flip side, Straits Times rose 14.25 points or 0.25% to 5,626.53, Jakarta Composite gained 36.36 points or 0.58% to 6,270.86 and Shanghai Composite strengthened 9.11 points or 0.24% to 3,818.77.
