Indian equity markets trimmed some of their gains in late afternoon session ahead of weekly F&O expiry. Most market participants were cautious about the upcoming 2025-2026 Budget. However, markets continued to trade in green as private report stated that The United States and India Business Council (USIBC) has urged the new Trump administration to collaborate with India on artificial intelligence (AI) research and development, quantum computing and other deep tech fields. Such a digital trade agreement will foster data flows and reduce tariffs. On the global front, Asian markets were trading mixed despite China announcing a slew of measures to stabilize its stock markets. Traders awaited key announcements on tariffs from the Trump administration and policy decisions from several major central banks in the coming weeks. European markets were trading mostly in red as investors await more clarity on U.S. President Donald Trump's policy plans.
The BSE Sensex is currently trading at 76572.68, up by 167.69 points or 0.22% after trading in a range of 76202.12 and 76743.54. There were 20 stocks advancing against 10 stocks declining on the index.
The broader indices were trading in green; the BSE Mid cap index gained 1.79%, while Small cap index was up by 0.78%.
The top gaining sectoral indices on the BSE were Consumer Durables up by 2.14%, Basic Materials up by 1.74%, IT up by 1.67%, Consumer Disc up by 1.40% and Realty was up by 1.38%, while Oil & Gas down by 0.59%, Energy down by 0.36% and Bankex was down by 0.32% were the few losing indices on BSE.
The top gainers on the Sensex were Ultratech Cement up by 5.47%, Zomato up by 2.61%, Tech Mahindra up by 2.51%, Sun Pharma up by 2.18% and Mahindra & Mahindra up by 2.16%. On the flip side, Reliance Industries down by 1.11%, Hindustan Unilever down by 0.98%, Axis Bank down by 0.95%, Kotak Mahindra Bank down by 0.84% and HCL Tech down by 0.74% were the top losers.
Meanwhile, Raksha Mantri Rajnath Singh has said that India is a fast-developing country, but its development needs to be inclusive, equitable, ecologically sustainable and morally desirable without compromising the planet’s health. He asserted that the country’s consumption should be need-based and not greed-based, stressing that behaviors need to change to ensure sustainability. There is a need to do away with the ‘use-and-dispose’ economy.
Singh also pointed out that India’s constitutional makers were aware of the great ancestors’ thoughts and deep respect for nature, which is why a directive to protect, improve and safeguard the environment was established. He further stated that the Indian constitution made it a fundamental duty of all the citizens to protect and improve the natural environment and have compassion for living creatures.
He enumerated the green initiatives taken by the Government, under the leadership of the Prime Minister Narendra Modi, such as Mission LiFE which envisions replacing mindless consumption with a mindful circular economy; ‘Pro-Planet People’ to enable environmentally-friendly behaviors; National Green Hydrogen Mission to make India the Global Hub for the production, usage and export of Green Hydrogen; Green Credit Program to focus on tree plantation on degraded forest land parcels, and ‘Ek Ped Maa Ke Naam’ campaign, a unique nationwide tree plantation initiative.
The CNX Nifty is currently trading at 23226.50, up by 71.15 points or 0.31% after trading in a range of 23090.65 and 23270.80. There were 33 stocks advancing against 17 stocks declining on the index.
The top gainers on Nifty were Ultratech Cement up by 5.71%, Wipro up by 2.88%, Grasim Industries up by 2.65%, Tech Mahindra up by 2.50% and Shriram Finance up by 2.30%. On the flip side, BPCL down by 2.32%, Reliance Industries down by 1.13%, Hindustan Unilever down by 0.96%, Axis Bank down by 0.93% and Kotak Mahindra Bank down by 0.84% were the top losers.
Asian markets were trading mixed; Nikkei 225 surged 312.62 points or 0.78% to 39,958.87, Jakarta Composite gained 26.17 points or 0.36% to 7,283.30, Straits Times rose 23.46 points or 0.62% to 3,804.67 and Shanghai Composite was up by 16.54 points or 0.51% to 3,230.16. On the flip side, KOSPI dropped 31.57 points or 1.26% to 2,515.49 and Hang Seng was down by 78.21 points or 0.4% to 19,700.56.
European markets were trading mostly in red; UK’s FTSE 100 decreased 0.63 points or 0.01% to 8,544.50 and France’s CAC was down by 3.65 points or 0.05% to 7,833.75. On the flip side, Germany’s DAX was up by 3.58 points or 0.02% to 21,257.85.