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Sensex, Nifty trade cautiously higher in early deals; Services PMI eyed
Jul-03-2025

Indian equity benchmarks made slightly positive start on Thursday and soon turned volatile amid following the mixed cues from Wall Street overnight. Traders remained cautious ahead of the deadline of July 9 set by the US President Donald Trump for reaching trade deals with its partner countries. Also, traders are adopting a wait-and-watch approach ahead of the conclusion of the India-U.S. trade deal. Some volatility came ahead of India’s final Services PMI data for June to be out later in the day. Sensex and Nifty are trading cautiously higher in early deals supported by buying in Metal, Oil & Gas and Auto counters. Some support came as External Affairs Minister S Jaishankar and his American counterpart Marco Rubio held talks focused on deepening the India-US collaboration in key sectors such as trade, defence, energy, mobility and critical technologies. On the global front, Asian markets are trading mostly higher in the leadup to US jobs data, after US stocks hit another record following Donald Trump’s announcement of a trade deal with Vietnam.

The BSE Sensex is currently trading at 83496.06, up by 86.37 points or 0.10% after trading in a range of 83348.49 and 83689.05. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.22%, while Small cap index was up by 0.13%.

The top gaining sectoral indices on the BSE were Metal up by 0.82%, Oil & Gas up by 0.69%, Auto up by 0.60%, Basic Materials up by 0.48% and Energy up by 0.47%, while Utilities down by 0.64%, Power down by 0.35%, Bankex down by 0.03%, Capital Goods down by 0.02% and Telecom down by 0.01% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 1.54%, Asian Paints up by 1.31%, Mahindra & Mahindra up by 0.90%, Infosys up by 0.63% and ICICI Bank up by 0.49%. On the flip side, Bajaj Finance down by 1.45%, Kotak Mahindra Bank down by 1.41%, Trent down by 0.89%, Bajaj Finserv down by 0.77% and NTPC down by 0.57% were the top losers.

Meanwhile, External Affairs Minister S Jaishankar and his American counterpart Marco Rubio have hold talks focused on ways to deepen the India-US collaboration in key sectors such as trade, defence, energy, mobility and critical technologies. It was the first in-person meeting between Jaishankar and Rubio after the four-day military conflict between India and Pakistan in May. The two sides also took stock of the ongoing negotiations for a trade deal between India and the US.

New Delhi and Washington are holding negotiations to seal a bilateral trade agreement (BTA) as agreed during Prime Minister Narendra Modi's talks with US President Donald Trump in Washington DC in February. The US State Department said the implementation of US-India COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce and Technology) figured in the Rubio-Jaishankar talks. The COMPACT initiative, aimed at driving transformative change across key pillars of cooperation, was launched following talks between Modi and Trump in February.

He held separate bilateral talks with US Defence Secretary Pete Hegseth and Energy Secretary Chris Wright. He noted that they had a productive conversation on advancing the India-US defence partnership, building on growing convergences of interests, capabilities and responsibilities. He also met US Energy Secretary Chris Wright and discussed opportunities for a deeper bilateral energy partnership. He said they spoke about the energy transformation underway in India. And also discussed opportunities for deeper India-US energy partnership.

The CNX Nifty is currently trading at 25497.20, up by 43.80 points or 0.17% after trading in a range of 25429.75 and 25537.05. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Wipro up by 1.42%, ONGC up by 1.36%, Mahindra & Mahindra up by 1.32%, Asian Paints up by 1.25% and Tata Steel up by 1.22%. On the flip side, Bajaj Finance down by 1.78%, Kotak Mahindra Bank down by 1.30%, Bajaj Finserv down by 1.16%, HDFC Life Insurance down by 0.99% and SBI Life Insurance down by 0.94% were the top losers.

Asian markets are trading mostly in green; Taiwan Weighted jumped 167.45 points or 0.74% to 22,745.19, Nikkei 225 surged 34.37 points or 0.09% to 39,796.85, KOSPI increased 30.30 points or 0.99% to 3,105.36, Jakarta Composite gained 11.3 points or 0.16% to 6,892.55 and Shanghai Composite was up by 2.57 points or 0.07% to 3,457.36. On the other hand, Hang Seng declined 232.25 points or 0.96% to 23,989.16 and Straits Times was down by 7.68 points or 0.19% to 4,003.09.

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