Indian equity benchmarks made cautious start on Thursday and soon slipped below neutral lines tracking weakness in global markets amid elevated US bond yields. Rise in crude oil prices amid concerns over a possible resumption of US strikes on Iran, also weighed on domestic sentiments. Traders remained cautious as foreign institutional investors (FIIs) continued their selling spree, offloading equities worth Rs 6,121.37 crore on Wednesday.
Sensex and Nifty extend their losses and were trading lower with cut of around half a percent each in early deals amid selling in most of the sector indices, led by utilities and power stocks. However, buying was visible in IT and TECK counters as investors turned their attention to corporate earnings, with TCS to come out with its Q2 result later in the day.
On the global front, Asian markets were trading in red as higher borrowing costs and rising oil prices weighed on sentiment. Investors remained cautious amid concerns that persistent inflationary pressures could limit the scope for central banks to ease monetary policy.
The BSE Sensex is currently trading at 72281.86, down by 356.84 points or 0.49% after trading in a range of 72254.23 and 72693.97. There were 7 stocks advancing against 23 stocks declining on the index.
The only gaining sectoral indices on the BSE were IT up by 1.54% and TECK up by 0.72%, while Utilities down by 1.64%, Realty down by 1.62%, Power down by 1.47%, Metal down by 1.33% and Industrials down by 1.24% were top the losing indices on BSE.
The top gainers on the Sensex were TCS up by 2.16%, Tech Mahindra up by 1.99%, Infosys up by 1.84%, HCL Technologies up by 1.82% and Trent up by 1.14%. On the flip side, ITC down by 2.79%, Adani Ports & SEZ down by 2.12%, Bharat Electronics down by 1.39%, Bajaj Finserv down by 1.18% and Power Grid down by 1.10% were the top losers.
Meanwhile, with the aim of strengthening bilateral ties, India and the UK have reaffirmed the important role of the Financial Markets Dialogue (FMD) in supporting sustainable growth, deeper trade and investment ties, and resilient financial markets. The two sides welcomed constructive discussions under the FMD and acknowledged the contribution of the India-UK Financial Partnership (IUKFP) in identifying practical solutions and potential areas for deepening financial services links. The participants also reflected on the strengthening of bilateral ties, particularly in the context of the launch of Vision 2035, and stressed the importance of implementing the UK-India Comprehensive Economic and Trade Agreement (CETA), which entered into force on July 15, 2026.
Both sides agreed to drive progress across various workstreams, with updates to be reviewed through relevant bilateral mechanisms and at the next UK-India Economic and Financial Dialogue. The fourth UK-India Financial Markets Dialogue (FMD) took place on September 29 in London. The FMD is part of the broader economic engagement between India and the UK and focuses on strengthening cooperation in financial services and capital markets. The dialogue was led by senior officials from the finance ministry, Government of India, and economic and finance ministry of the UK.
It witnessed participation from Indian and the UK financial services regulatory authorities, including the Securities and Exchange Board of India (Sebi), the Reserve Bank of India (RBI), the International Financial Services Centres Authority (IFSCA), the Pension Fund Regulatory and Development Authority (PFRDA), and the Insurance Regulatory and Development Authority of India (IRDAI), the Bank of England (BoE), and the Financial Conduct Authority (FCA).
Both sides agreed on the importance of supporting responsible innovation and competition without compromising regulatory oversight. They exchanged perspectives on the potential opportunities and risks of artificial intelligence (AI) in financial services and agreed on the value of continued bilateral exchange and coordination through relevant international fora. India shared its digital onboarding process for retail financial services and committed to further share its experiences. Both sides also noted the risks posed by criminal adoption of new technologies to financial crime, including use of AI to commit fraud at industrial scale in so-called 'scam compounds' operating in foreign countries as well as risks to cyber security, data protection and operational resilience.
The CNX Nifty is currently trading at 22472.45, down by 130.60 points or 0.58% after trading in a range of 22459.70 and 22599.05. There were 9 stocks advancing against 41 stocks declining on the index.
The top gainers on Nifty were TCS up by 2.26%, HCL Technologies up by 1.97%, Infosys up by 1.85%, Tech Mahindra up by 1.84% and Trent up by 0.86%. On the flip side, Adani Enterprises down by 2.81%, ITC down by 2.79%, SBI Life Insurance down by 2.42%, Adani Ports & SEZ down by 2.23% and Power Grid down by 1.78% were the top losers.
All Asian markets were trading lower; Nikkei 225 slipped 744.71 points or 1.06% to 69,291.00, Taiwan Weighted lost 321.35 points or 0.65% to 49,485.02, Hang Seng dropped 219.5 points or 0.92% to 23,911.00, KOSPI plunged 144.53 points or 2.12% to 6,659.37, Straits Times fell 30.95 points or 0.57% to 5,435.53, Jakarta Composite declined 22.26 points or 0.36% to 6,124.46 and Shanghai Composite weakened 10.35 points or 0.27% to 3,831.84.
