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Domestic indices remain in green in late morning deals
Jun-04-2025

Indian equity markets remained in green and were trading higher by around 0.20 percent in late morning deals on the back of buying in Bharti Airtel, Tech Mahindra, Eternal, Mahindra & Mahindra and HDFC Bank companies’ stocks. Meanwhile, broader indices outperformed their large peers with BSE Mid cap index and Small cap index gaining in the range of 0.40-0.55%. Positive cues from global markets supported domestic sentiments. Further, some support also came in after a private report said that India's central bank is widely expected to deliver a third consecutive rate cut on Friday as muted inflation provides ample space to focus on boosting economic growth further. On the BSE sectoral front, traders were seen pilling up position in TECK, Telecom, Auto, IT and Industrials, while selling was witnessed in Realty, Oil & Gas, Consumer Durables, Power and Bankex.

On the global front, Asian markets were trading mostly in green following positive cues from the US markets overnight. Optimism around a potential breakthrough in US-China trade talks lifted overall market sentiment. Back home, in the stock specific development, Aditya Birla Fashion and Retail (ABFRL) dropped as 6.2% equity change hands in block deal.  

The BSE Sensex is currently trading at 80907.24, up by 169.73 points or 0.21% after trading in a range of 80705.18 and 80967.68. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.42%, while Small cap index up by 0.52%.

The top gaining sectoral indices on the BSE were TECK up by 0.69%, Telecom up by 0.66%, Auto up by 0.55%, IT up by 0.51% and Industrials up by 0.35%, while Realty down by 0.77%, Oil & Gas down by 0.20%, Consumer Durables down by 0.12%, Power down by 0.10% and Bankex down by 0.07% were the top losing indices on BSE.

The top gainers on the Sensex were Bharti Airtel up by 1.54%, Tech Mahindra up by 1.20%, Eternal up by 1.14%, Mahindra & Mahindra up by 0.81% and HDFC Bank up by 0.72%. On the flip side, NTPC down by 0.90%, Sun Pharma down by 0.87%, Axis Bank down by 0.75%, Titan down by 0.68% and Asian Paints down by 0.55% were the top losers.

Meanwhile, World Trade Organization (WTO) chief Ngozi Okonjo-Iweala has urged India to support the China-led proposal on investment facilitation for development as several developing countries are backing the initiative. Meanwhile, she put an emphasis on understanding India’s issues related to agriculture and encouraged to be helpful to India. Further, she has discussed several issues like WTO reforms and agriculture with Indian Commerce and Industry Minister Piyush Goyal. 

A China-led group of 128 countries is pushing for the Investment Facilitation for Development (IFD) proposal. While, it will be binding for only the signatory members India is against it and has opposed the initiative in the last 13th ministerial conference at Abu Dhabi as such agreements would dilute the multilateral nature of the 166-member organisation.

While talking abour reforms in WTO, Iweala has pointed out that the three quarters of world goods trade is still taking place on WTO terms, on MFN (most favoured nation) terms and members want to safeguard that. In such kind of disruption, she encouraged all WTO members to propose the required reform and try to implement those. The WTO deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.

The CNX Nifty is currently trading at 24591.65, up by 49.15 points or 0.20% after trading in a range of 24530.45 and 24612.75. There were 30 stocks advancing against 20 stocks declining on the index.

The top gainers on Nifty were Bharti Airtel up by 1.57%, Shriram Finance up by 1.32%, Tech Mahindra up by 1.19%, Indusind Bank up by 1.18% and Eternal up by 1.07%. On the flip side, NTPC down by 0.99%, Sun Pharma down by 0.89%, Axis Bank down by 0.79%, Titan down by 0.61% and JSW Steel down by 0.60% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 101.41 points or 0.43% to 23,613.90, Jakarta Composite gained 32.77 points or 0.46% to 7,077.59, Shanghai Composite strengthened 12.35 points or 0.37% to 3,374.33, KOSPI increased 67.08 points or 2.49% to 2,766.05, Nikkei 225 surged 370.64 points or 0.99% to 37,817.45 and Taiwan Weighted added 491.16 points or 2.32% to 21,618.09. However, Straits Times fell 2.12 points or 0.05% to 3,892.26.
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