Indian equity benchmarks erased initial losses and were trading higher with gains of over half percent each in morning deals, as strong buying in TECK, IT and Telecom stocks helped benchmark indices turn positive. Tech Mahindra, Infosys and TCS led the IT rally after better-than-expected quarterly results from technology companies lifted sentiment. Traders also took support as the commerce ministry’s data showed that India’s merchandise exports rose by 23.05 per cent to $44.40 billion in September 2026 as compared to $36.08 billion in September 2025, driven by healthy growth in shipments of petroleum products, electronic goods and chemicals. Some support also came with Commerce and Industry Minister Piyush Goyal’s statement that the first phase of the India-US trade agreement has been finalized and is undergoing legal drafting. Goyal expressed optimism that the legal drafting would be completed soon and operationalized once India secures a competitive advantage over its peer countries.
On the global front, Asian markets were trading mostly in green following the broadly positive cues from Wall Street overnight, boosted by strong gains in Japan and South Korea amid a rebound in technology and semiconductor stocks after the recent sell-off on concerns over rising costs of financing AI investments.
The BSE Sensex is currently trading at 74755.52, up by 439.91 points or 0.59% after trading in a range of 74012.99 and 74774.68. There were 14 stocks advancing against 16 stocks declining on the index.
The top gaining sectoral indices on the BSE were TECK up by 2.81%, IT up by 2.67%, Telecom up by 1.59%, Metal up by 1.20% and Basic Materials up by 0.82%, while Energy down by 0.56%, FMCG down by 0.45%, Oil & Gas down by 0.35%, Healthcare down by 0.18% and Bankex down by 0.14% were the top losing indices on BSE.
The top gainers on the Sensex were Tech Mahindra up by 6.80%, Infosys up by 3.83%, TCS up by 3.16%, Mahindra & Mahindra up by 2.00% and Bharti Airtel up by 1.92%. On the flip side, Reliance Industries down by 1.44%, ITC down by 1.11%, ICICI Bank down by 0.79%, Bajaj Finserv down by 0.66% and Asian Paints down by 0.53% were the top losers.
Meanwhile, Commerce and Industry Minister Piyush Goyal has said the first phase of the India-US trade agreement has been finalized and is undergoing legal drafting. Goyal expressed optimism that the legal drafting would be completed soon and operationalized once India secures a competitive advantage over its peer countries.
The minister added that his remarks on the US-India pact “are consistent and exactly what I've said yesterday and what I said a week ago and what I said three months ago. So nothing new in that.” Moreover, He said the free trade agreement between India and the European Union will be inked in December and would come into force from February or March next year.
Meanwhile, India's outbound shipments to the US grew marginally by 0.92 per cent to $87.3 billion during the last fiscal year despite high tariffs, while imports increased 15.95 per cent to $52.9 billion. The trade surplus declined to $34.4 billion in 2025-26 from $40.89 billion in 2024-25.
The CNX Nifty is currently trading at 23138.85, up by 141.50 points or 0.62% after trading in a range of 22913.80 and 23147.95. There were 27 stocks advancing against 23 stocks declining on the index.
The top gainers on Nifty were Tech Mahindra up by 7.21%, Infosys up by 4.22%, TCS up by 3.18%, Bharti Airtel up by 2.74% and Mahindra & Mahindra up by 1.85%. On the flip side, BSE down by 2.13%, HDFC Life Insurance down by 1.50%, Tata Consumer Products down by 0.88%, Shriram Finance down by 0.80% and Max Healthcare down by 0.75% were the top losers.
Asian markets were trading mostly in green; Nikkei 225 surged 1225.05 points or 1.9% to 65,651.00, Taiwan Weighted added 283.82 points or 0.6% to 47,253.69, Shanghai Composite strengthened 16.84 points or 0.45% to 3,724.32, KOSPI increased 215.24 points or 3.88% to 5,769.46, Hang Seng advanced 246.28 points or 1.02% to 24,309.00 and Straits Times rose 38.41 points or 0.71% to 5,441.91.
On the flip side, Jakarta Composite plunged 630.78 points or 12.05% to 5,233.00.
