Sensex, Nifty maintain firm trade during early noon deals

Indian equity benchmarks were maintaining their firm trade during early afternoon deals, as traders remained optimistic after Iran said it had reached an agreement with Oman on a proposed route for shipping through the Strait of Hormuz, making a potential step toward reopening of the critical waterway for energy supplies. But, there was some volatility in the markets, with investors getting anxious after the Reserve Bank of India (RBI) in its latest ‘Industrial Outlook Survey of the Manufacturing Sector’ report has stated that manufacturing firms turned less optimistic about demand conditions during the first quarter of FY27 (Q1:2026?27), with sentiments on production, order books, capacity utilisation and exports weakening amid the ongoing conflict in West Asia.

The Sensex traded with a positive bias, outperforming the Nifty, as buying in select heavyweight stocks helped the benchmark hold firm trade despite caution ahead of weekly derivatives expiry. Investor sentiment remained supported by the RBI's decision to keep interest rates unchanged, easing crude oil prices and optimism over diplomatic efforts in West Asia. The Nifty also traded higher during early noon deals but in a narrow range, reflecting a lack of broad-based buying as investors adopted a stock-specific approach amid the ongoing Q1 earnings season. 

On the global front, Asian markets were trading mixed, even after South Korea posted a current account surplus of $49.73 billion in June, up from $38.61 in May. The goods account saw a $47.89 billion surplus as exports increased by 84.5 percent to $112.37 billion and as imports increased by 38.6 percent to $47.89 billion, both compared to one year earlier.

The BSE Sensex is currently trading at 78816.74, up by 235.74 points or 0.30% after trading in a range of 78633.73 and 78904.37. There were 11 stocks advancing against 18 stocks declining, while 1 stock remained unchanged on the index.

The top gaining sectoral indices on the BSE were Energy up by 1.22%, Capital Goods up by 0.91%, Industrials up by 0.80%, Oil & Gas up by 0.79% and Consumer Durables up by 0.55%, while Realty down by 1.07%, Utilities down by 0.97%, Power down by 0.92%, Metal down by 0.55% and Telecom down by 0.51% were the top losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 2.61%, Bharat Electronics up by 2.20%, Eternal up by 1.83%, Titan Company up by 1.43% and ICICI Bank up by 0.88%. On the flip side, Power Grid down by 3.71%, Trent down by 1.24%, Mahindra & Mahindra down by 1.07%, NTPC down by 1.05% and TCS down by 0.87% were the top losers.

Meanwhile, marking a significant step towards strengthening bilateral economic engagement, Indian mission in Israel has launched a dedicated one-stop facilitation platform, India-Israel Business Hub, to boost bilateral trade, investments and collaborations. The hub will serve as a one-stop platform providing support in trade facilitation, business partnerships, and investment facilitation, connecting importers, exporters, businesses, and investors from both countries.

During the launch, Indian mission highlighted trade and investment opportunities in India across sectors, including engineering goods, pharmaceuticals, textiles, agriculture, chemicals, electronics, water technologies, renewable energy, healthcare, artificial intelligence, quantum technologies, cybersecurity, infrastructure, defence, and aerospace, among others.

Moreover, India's Ambassador to Israel, JP Singh said that India and Israel are natural economic partners with complementary strengths -- India's scale, talent, and manufacturing capabilities complement Israel's innovation and advanced technologies, creating significant opportunities for trade, investment, and innovation. Meanwhile, bilateral trade between both countries has reached around $4 billion in FY 2025-26, up from $3.62 billion in FY 2024-25.

The CNX Nifty is currently trading at 24645.30, up by 20.65 points or 0.08% after trading in a range of 24604.15 and 24677.05. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Reliance Industries up by 2.78%, Eternal up by 2.11%, Shriram Finance up by 2.02%, Bharat Electronics up by 2.00% and Titan Company up by 1.43%. On the flip side, Power Grid down by 3.74%, Hindalco Industries down by 2.06%, Trent down by 2.00%, NTPC down by 1.77% and Bajaj Auto down by 1.40% were the top losers.

Asian markets were trading mixed; Jakarta Composite gained 9.28 points or 0.15% to 6,360.42, Straits Times rose 46.32 points or 0.83% to 5,627.69 and Shanghai Composite strengthened 21.92 points or 0.57% to 3,900.35, while KOSPI dropped 301.88 points or 4.79% to 6,296.38, Taiwan Weighted lost 214.9 points or 0.48% to 44,396.70, Hang Seng declined 410.82 points or 1.59% to 25,505.00 and Nikkei 225 slipped 656.44 points or 1% to 65,644.00.