Markets extend losses in late trade

Benchmarks have extended losses in late afternoon as Brent crude oil prices surged to trade over $82 barrel mark amid uncertainties over easing tensions in West Asia crisis after Iran fired missile at Israel. Further, investors were cautious as foreign institutional investors (FIIs) continued to pull out fund from Indian markets. FIIs were the net sellers on Thursday’s session, offloading securities worth Rs 17.86 crore. Sensex and Nifty were around half a percent down as Banking and Financial services stocks were the key laggard while IT stocks like TCS and Infosys lend some support. 

On the global front, Asian equity markets were trading mixed, while European equity markets were trading higher as investors monitored oil price movements and awaited the U.S. jobs report later in the day for additional clues on the Fed's rate trajectory.

The BSE Sensex is currently trading at 78452.50, down by 502.26 points or 0.64% after trading in a range of 78396.17 and 78757.40. There were 11 stocks advancing against 19 stocks declining on the index.

The top gaining sectoral indices on the BSE were Auto up by 1.34%, IT up by 1.24%, TECK up by 0.72%, PSU up by 0.35% and Healthcare up by 0.31%, while Consumer Durables down by 1.04%, Oil & Gas down by 0.82%, Bankex down by 0.71%, Energy down by 0.43% and Realty down by 0.31% were the top losing indices on BSE.

The top gainers on the Sensex were TCS up by 3.25%, State Bank of India up by 2.70%, Mahindra & Mahindra up by 2.20%, Infosys up by 1.07% and HCL Technologies up by 0.97%. On the flip side, Bajaj Finance down by 6.47%, Bajaj Finserv down by 4.32%, ICICI Bank down by 3.53%, Trent down by 3.36% and Asian Paints down by 1.42% were the top losers.

Meanwhile, in a significant policy boost for India's renewable energy sector, the Union Cabinet has approved the Rs 23,731 crore National Circular Bioenergy Scheme ‘GOBARdhan’. Scheduled for implementation between FY2026-27 and FY2035-36, the Scheme aims to increase domestic Compressed Biogas (CBG) production nearly ten-fold, mobilize large-scale private investment and create a vibrant circular bioeconomy across the country.

The scheme offers the strong and predictable framework required to take India’s CBG sector to national scale, through assured demand, remunerative and stable pricing, capital assistance, pipeline infrastructure, credit support and technology development. It will transform the country’s abundant agricultural residue, cattle dung, press mud, municipal organic waste and other biomass resources into clean fuel, organic manure, rural income and national economic value.

Building on the progress already achieved, GOBARdhan will take India’s CBG journey from a strong foundation to a nationally scaled clean energy industry. It reflects the Government’s commitment to energy security, farmers and rural enterprises, waste-to-wealth, Atmanirbhar Bharat and the vision of Viksit Bharat.

The CNX Nifty is currently trading at 24537.90, down by 98.10 points or 0.40% after trading in a range of 24522.75 and 24630.40. There were 19 stocks advancing against 30 stocks declining on the index.

The top gainers on Nifty were TCS up by 3.11%, Grasim Industries up by 2.80%, State Bank of India up by 2.77%, Mahindra & Mahindra up by 2.48% and HCL Technologies up by 1.56%. On the flip side, Bajaj Finance down by 5.62%, Bajaj Finserv down by 4.03%, Trent down by 3.28%, ICICI Bank down by 2.49% and Shriram Finance down by 2.41% were the top losers.

Asian equity markets were trading mixed; Shanghai Composite strengthened 39.685 points or 1.02 to 3,940.04, Straits Times soared 54.01 points or 0.96 to 5,693, Hang Seng surged 137.75 points or 0.54 to 25,668.03 and Jakarta Composite zoomed 55.39 points or 0.87 to 6,399.10, while Nikkei 225 slipped 76.55 points or 0.12 to 65,606.71, Taiwan Weighted lost 170.79 points or 0.38 to 44,225.91 and KOSPI dropped 37.61 points or 0.6 to 6,258.77.

European equity markets were trading higher; UK’s FTSE 100 increased 20.75 points or 0.19 to 53,790.97, France’s CAC rose 19.46 points or 0.22 to 8,719.17 and Germany’s DAX gained 182.97 points or 0.7 to 26,323.10.