Domestic equity indices remained under pressure in late morning deals as market participants continued to reduce their positions. Traders were cautious amid escalating tensions in the Strait of Hormuz. Escalating Middle East tensions and attacks on commercial vessels in the Strait of Hormuz kept oil-supply disruption risks in focus. Meanwhile, traders avoided risky bids ahead of holiday tomorrow on account of Dussehra. Traders overlooked a report that the United States of America's Secretary of State Marco Rubio said the country is trying to finalise a trade deal with India right now and is very close to doing that.
The Sensex was trading lower by 0.45%, while the Nifty fell 0.36% amid selling pressure in index heavyweights such as HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, and Bajaj Finance. On the global front, Asian markets were trading mixed, following negative cues from the US markets on Friday.
The BSE Sensex is currently trading at 74395.20, down by 334.07 points or 0.45% after trading in a range of 74169.23 and 74849.75. There were 14 stocks advancing against 16 stocks declining on the index.
The top gaining sectoral indices on the BSE were Oil & Gas up by 0.60%, PSU up by 0.44%, Energy up by 0.40%, Telecom up by 0.21% and Auto up by 0.17%, while FMCG down by 1.09%, IT down by 0.62%, Capital Goods down by 0.50%, TECK down by 0.44% and Industrials down by 0.35% were the top losing indices on BSE.
The top gainers on the Sensex were Ultratech Cement up by 2.11%, State Bank of India up by 1.36%, Maruti Suzuki India up by 1.34%, Larsen & Toubro up by 1.34% and Adani Ports up by 1.15%. On the flip side, Axis Bank down by 3.44%, HDFC Bank down by 1.99%, Hindustan Unilever down by 1.67%, Infosys down by 1.55% and Bajaj Finserv down by 1.35% were the top losers.
Meanwhile, the commerce ministry in its latest data has showed that India's merchandise exports registered strong growth across key regions, including Africa, ASEAN and North-East Asia, during April-August period of FY27. The growth comes as India looks to diversify its export destinations amid global trade uncertainties. India's exports to West Asia, which were hit by the US-Iran war, are also gradually recovering towards pre-crisis levels. Exports to the region stood at $4.2 billion in April, which increased to $5.01 billion in August. It was $6.48 billion in January this year.
According to the data, India's merchandise shipments to Africa jumped 47 per cent to $26.19 billion in April-August 2026-27, up from $17.83 billion in the year-ago period. Africa's share in India's total exports increased to 12.2 per cent during the period under review from 9.7 per cent in the corresponding period last year. Within Africa, shipments to East Africa nearly doubled, rising 94% to $8.95 billion. Shipments to the Southern African Customs Union (SACU) increased 53 per cent to $5.09 billion, and exports to North Africa grew 33 per cent to $4.03 billion. West Africa recorded a 7 per cent rise in the period to $5.57 billion. Similarly, exports to the ASEAN (Association of Southeast Asian Nations) region grew 56 per cent to $23.08 billion, and shipments to North-East Asia rose 37 per cent to $21.03 billion in April-August. Exports to South Asia and other European countries increased 24 per cent.
It further stated that several product categories recorded strong growth during the five-month period. Exports of light-duty trucks and medium-duty trucks grew 71 per cent and 67 per cent, respectively, during April-August 2026-27, reflecting strong demand in overseas markets. Optical fibre and cable exports surged 158 per cent to $483 million, and electrical control boards nearly doubled to $303 million, supported by demand in key markets such as the US, China, Singapore and Poland.
The CNX Nifty is currently trading at 23062.25, down by 83.90 points or 0.36% after trading in a range of 22970.50 and 23175.25. There were 25 stocks advancing against 25 stocks declining on the index.
The top gainers on Nifty were Ultratech Cement up by 2.18%, Adani Ports up by 1.84%, Eicher Motors up by 1.68%, Larsen & Toubro up by 1.46% and ONGC up by 1.15%. On the flip side, Axis Bank down by 3.78%, HDFC Bank down by 2.11%, Infosys down by 1.65%, Hindustan Unilever down by 1.45% and HDFC Life Insurance down by 1.44% were the top losers.
Asian markets were trading mixed; Nikkei 225 slipped 468.29 points or 0.72% to 64,856.00, Taiwan Weighted lost 382.92 points or 0.82% to 46,728.34, Jakarta Composite plunged 261.85 points or 5.32% to 4,923.26. However, Shanghai Composite strengthened 16.33 points or 0.44% to 3,732.61, KOSPI increased 28.58 points or 0.5% to 5,696.63 and Straits Times rose 4.37 points or 0.08% to 5,419.90.
