Domestic equity indices remained in the green in late-morning deals, tracking positive cues from global markets. Some support came in markets as Union Finance Minister Nirmala Sitharaman said closer economic cooperation between India and Canada has assumed greater significance amid a rapidly changing global landscape marked by geopolitical uncertainty. However, gains remained capped following a report that U.S. President Donald Trump is not interested in returning to the previous deal terms with Iran. Meanwhile, Investors remained cautious ahead of remarks from U.S. Federal Reserve Chair Kevin Warsh at the Jackson Hole Symposium, which could provide cues on the central Bank's monetary policy outlook.
Both the Sensex and Nifty were trading higher, helped by buying in blue-chip IT stocks, namely Tata Consultancy Services, Infosys and HCL Technologies, as well as HDFC Bank. On the global front, Asian markets were trading mostly in green following positive cues from the US markets overnight.
The BSE Sensex is currently trading at 77214.32, up by 280.73 points or 0.36% after trading in a range of 77043.34 and 77357.97. There were 20 stocks advancing against 10 stocks declining on the index.
The top gaining sectoral indices on the BSE were IT up by 3.15%, TECK up by 2.01%, Bankex up by 1.05%, Telecom up by 0.63% and Healthcare up by 0.33%, while Utilities down by 0.23%, Basic Materials down by 0.20%, Power down by 0.20%, Oil & Gas down by 0.12% and Capital Goods down by 0.11% were the top losing indices on BSE.
The top gainers on the Sensex were HCL Technologies up by 3.52%, TCS up by 3.48%, Tech Mahindra up by 3.47%, Infosys up by 3.24% and Trent up by 1.05%. On the flip side, Ultratech Cement down by 1.39%, ICICI Bank down by 1.00%, Asian Paints down by 0.89%, Tata Steel down by 0.38% and Mahindra & Mahindra down by 0.37% were the top losers.
Meanwhile, Domestic rating agency ICRA in its latest report has said that India Inc's revenue growth is likely to moderate to 13-15 per cent in the July-September quarter of 2026-27 (Q2FY27) as compared with the 21.3 per cent growth recorded in Q1FY27. The agency also warned that India Inc's aggregate operating profit margin (OPM) could contract by 1-1.5 per cent on a year-on-year basis in Q2FY27, mainly due to elevated raw material, fuel, freight and packaging costs that have risen largely due to the ongoing West Asia conflict.
It said oil refiners are likely to remain under pressure in Q2FY27 due to petroleum-product under-recoveries and thinner marketing margins. It noted that aviation, automobiles, FMCG, cement and other energy-intensive sectors could also face margin pressures from elevated prices of crude oil and its derivatives, palm oil, coal, etc and the consequent rise in freight and packaging material costs.
However, the report said several sectors are taking pricing actions to pass on higher costs arising from West Asia conflict and the rupee’s depreciation against the US dollar. It said metals and mining companies, upstream oil producers, telecom operators and select utilities are relatively better placed on the margins front, supported by favourable realisations, operating leverage or cost pass-through mechanisms. Despite pressures on margins, it said India Inc's credit metrics are likely to remain resilient.
The CNX Nifty is currently trading at 24140.50, up by 49.65 points or 0.21% after trading in a range of 24106.55 and 24188.30. There were 25 stocks advancing against 25 stocks declining on the index.
The top gainers on Nifty were TCS up by 3.65%, Tech Mahindra up by 3.48%, HCL Technologies up by 3.46%, Infosys up by 2.71% and Wipro up by 2.11%. On the flip side, Ultratech Cement down by 1.39%, ICICI Bank down by 0.94%, Asian Paints down by 0.93%, Tata Steel down by 0.86% and Shriram Finance down by 0.86% were the top losers.
Asian markets were trading mostly in green; Nikkei 225 surged 214.02 points or 0.32% to 66,346.00, Taiwan Weighted added 331.77 points or 0.72% to 46,306.99, Jakarta Composite gained 27.11 points or 0.41% to 6,548.86, Hang Seng advanced 81.26 points or 0.32% to 25,647.00 and Straits Times rose 7.31 points or 0.13% to 5,691.43. However, Shanghai Composite weakened 1.28 points or 0.03% to 3,955.29 and KOSPI dropped 118.46 points or 1.71% to 6,793.91.
