Indian equity benchmarks continued to trade higher in morning deals, defying a rout in global markets triggered by sharp tech selloff. Traders took support with exchange data showed foreign institutional investors (FIIs) remained net buyers in Indian equities for the fifth straight session on Thursday, purchasing shares worth Rs 14,974.68 crore. Some support also came with Global Trade Research Initiative (GTRI) founder Ajay Srivastava’s statement that US President Donald Trump’s political setback in the November 2026 midterm elections could accelerate India-US trade negotiations, with an agreement potentially concluded within two months. Sector wise, auto stocks remained in watch as data from the Federation of Automobile Dealers Associations (FADA) showed India's automobile retail sales declined 23.8 per cent year-on-year to over 31.72 lakh units in October this year on a high base, with a decline in two-wheeler and passenger vehicle registrations. On the global front, Asian markets were trading lower tracking heavy losses on Wall Street overnight as a sharp sell-off in artificial intelligence (AI) and technology stocks rattled investor sentiment.
The BSE Sensex is currently trading at 79919.68, up by 609.67 points or 0.77% after trading in a range of 79016.05 and 80044.67. There were 17 stocks advancing against 13 stocks declining on the index.
The top gaining sectoral indices on the BSE were TECK up by 0.99%, IT up by 0.95%, Consumer Durables up by 0.92%, Bankex up by 0.29% and Healthcare up by 0.28%, while Capital Goods down by 3.73%, Industrials down by 2.56%, Power down by 2.05%, Basic Materials down by 1.06% and Realty down by 1.01% were the top losing indices on BSE.
The top gainers on the Sensex were Mahindra & Mahindra up by 5.25%, Titan Company up by 2.49%, TCS up by 1.80%, HDFC Bank up by 1.71% and ICICI Bank up by 1.58%. On the flip side, Power Grid down by 2.38%, Bharat Electronics down by 1.15%, Interglobe Aviation down by 1.14%, Asian Paints down by 1.13% and Bajaj Finance down by 1.11% were the top losers.
Meanwhile, the Indian Solar Manufacturers Association (ISMA), in its report titled ‘the Farms, Building the Factory (PM-KUSUM: Solarising Agriculture and Strengthening Domestic Manufacturing)’, has said that India's agricultural sector could generate demand for an additional 116 GW of solar modules. This presents a significant growth opportunity for domestic manufacturers as the government steps up efforts to solarise irrigation pumps and reduce reliance on conventional electricity and diesel.
According to the report, grid-connected agricultural pumps have the potential to drive 100 GW of additional solar module demand, while diesel-powered pumps could generate another 16 GW, excluding those located in groundwater-stressed areas. With nearly 2.3 crore irrigation pumps across the country, agricultural solarisation could emerge as a significant source of long-term demand for India's solar manufacturing industry, linking the country's clean energy transition with its push to expand domestic manufacturing capacity.
As per the report, the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) as an important driver of this opportunity, highlighting the potential of the programme to create a sustained market for domestically manufactured solar modules and cells. The report stated that PM-KUSUM added 7.6 GW of solar capacity in FY26, marking a record, with more than 28 lakh irrigation pumps solarised by July 2026.
The CNX Nifty is currently trading at 24674.40, up by 137.80 points or 0.56% after trading in a range of 24388.05 and 24702.60. There were 27 stocks advancing against 23 stocks declining on the index.
The top gainers on Nifty were Mahindra & Mahindra up by 4.12%, Titan Company up by 3.26%, HDFC Bank up by 1.95%, Adani Ports &SEZ up by 1.95% and HCL Technologies up by 1.77%. On the flip side, Shriram Finance down by 2.70%, Hindalco Industries down by 2.46%, Power Grid down by 2.13%, Tata Motors Passenger down by 1.50% and Bajaj Finance down by 1.42% were the top losers.
All Asian markets were trading lower; Nikkei 225 slipped 3892.9 points or 6.37% to 57,185.00, Taiwan Weighted lost 1632.52 points or 3.93% to 39,942.20, Jakarta Composite plunged 98.87 points or 2% to 4,931.39, Shanghai Composite weakened 40.46 points or 1.1% to 3,649.45, KOSPI dropped 282.64 points or 5.25% to 5,101.16, Hang Seng declined 338.98 points or 1.37% to 24,458.00 and Straits Times fell 7.26 points or 0.14% to 5,172.20.