Indices remain under pressure in late morning deals

Domestic equity indices remained under pressure in late morning deals as market participants indulged in reducing their positions. Traders were cautious as preliminary data from the Reserve Bank of India (RBI) showed that India’s current account deficit stood at $6.2 billion in June, compared with a surplus of $1.2 billion in the year-ago month. Depreciation in Indian rupee against dollar also weighed down sentiments. Rupee weakened by 18 paise to 95.60 against the dollar in early trade at the Inter-bank Foreign Exchange market on account of increased demand for the American currency from importers and banks.

Both Sensex and Nifty were trading over half a percent lower, dragged down by index heavyweights such as State Bank of India, Infosys, Tata Consultancy Services, Reliance Industries, and HDFC Bank. On the BSE sectoral front, traders were seen piling up positions only in Capital Goods and Industrials, while selling was witnessed in IT, TECK, Realty, and FMCG. On the global front, Asian markets were trading mostly in the green despite the U.S. said its naval blockade of Iranian ports could continue indefinitely, reigniting concerns over energy flows through the critical Strait of Hormuz.

The BSE Sensex is currently trading at 77504.73, down by 504.52 points or 0.65% after trading in a range of 77453.75 and 77928.68. There were 5 stocks advancing against 25 stocks declining on the index.

The only gaining sectoral indices on the BSE were Capital Goods up by 0.75% and Industrials up by 0.29%, while IT down by 1.75%, TECK down by 1.32%, Realty down by 0.92%, Utilities down by 0.88% and FMCG down by 0.78% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 0.48%, Bharat Electronics up by 0.30%, Eternal up by 0.22%, Interglobe Aviation up by 0.19% and Titan Company up by 0.03%. On the flip side, Infosys down by 2.46%, HCL Technologies down by 2.08%, TCS down by 1.87%, Tech Mahindra down by 1.63% and State Bank of India down by 1.36% were the top losers.

Meanwhile, the commerce ministry data has showed that India's exports to key free trade agreement (FTA) partner countries recorded robust growth in the first quarter of 2026-27 (Q1FY27), with shipments to Singapore and Sri Lanka more than doubling. India has signed 17 FTAs with various countries and trade blocs, including Singapore, Malaysia, South Korea, Mauritius, the UAE, Australia, the European Union, ASEAN and the EFTA bloc, of which 16 are currently operational. 

The data showed that exports to Singapore surged 101.2 per cent year-on-year to $6.52 billion during April-June 2026, compared with $3.24 billion in the corresponding period last year. During the same period, shipments to Sri Lanka rose 123.8 per cent to $2.35 billion from $1.05 billion. Exports to the ASEAN (Association of South East Asian Nations) region increased 61.6 per cent to $14.61 billion in the first quarter of this fiscal, from $9.04 billion a year earlier, while shipments to the South Asian Free Trade Area (SAFTA) region also grew 36.6 per cent to $8.40 billion from $6.15 billion. 

Among individual FTA partner countries, exports to Malaysia jumped 75.2 per cent to $2.54 billion, while shipments to Australia rose 25.2 per cent to $2.68 billion during Q1FY27. Exports to the UK increased 11.1 per cent to $3.69 billion in Q1FY27 from $3.32 billion in the year-ago period. The India-UK trade agreement was operationalised on July 15, 2026. During the period, shipments to South Korea grew 22.6 per cent to $1.95 billion, while exports to Japan increased 22.4 per cent to $1.75 billion. Exports to Oman rose 26.4 per cent to $1.39 billion, while shipments to Nepal increased 18.1 per cent to $2.28 billion. Exports to Bhutan and Thailand grew 16.1 per cent and 6 per cent, respectively, reaching $360 million and $1.23 billion.

The data indicates that across key FTA partner countries, India's exports are growing robustly. The sharp increase in the shipments contributed significantly to the overall momentum in exports during the quarter. Overall, India’s exports rose 15.92 per cent year-on-year to $129.32 billion during April-June 2026.  

The CNX Nifty is currently trading at 24239.85, down by 126.15 points or 0.52% after trading in a range of 24226.95 and 24357.60. There were 18 stocks advancing against 32 stocks declining on the index.

The top gainers on Nifty were HDFC Life Insurance up by 1.41%, Hindalco Industries up by 0.78%, Titan Company up by 0.77%, Bajaj Finance up by 0.57% and Bajaj Finserv up by 0.51%. On the flip side, Infosys down by 2.53%, HCL Technologies down by 2.13%, TCS down by 1.92%, Tech Mahindra down by 1.64% and ITC down by 1.53% were the top losers.

Asian markets were trading mostly in the green; Nikkei 225 surged 476.2 points or 0.69% to 69,190.00, Taiwan Weighted added 46.26 points or 0.1% to 45,857.27, Jakarta Composite gained 100.12 points or 1.56% to 6,401.89, Shanghai Composite strengthened 42.37 points or 1.08% to 3,969.55 and Hang Seng advanced 456.15 points or 1.78% to 25,573.00. However, Straits Times fell 4.15 points or 0.07% to 5,739.44.