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Markets manage to garner gains in late trade
Jul-16-2025

Indian equity markets have recovered from early losses to trade higher in late afternoon session. The investors remained optimistic over India’s economic growth prospects after Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev indicated that the Indian economy is likely to grow at 6.5 per cent in the current financial year (FY26), despite geo-political tensions and trade policy uncertainties. He further said that domestic growth will be driven by low inflation, resulting from good monsoon and benign interest rate regime, triggered by three back-to-back rate cuts by the Reserve Bank of India. Further, the stocks have shown significant up move, reflected by BSE IT index surging 0.76%, with Infosys, Tech Mahindra and Wipro leading the charge. 

On the global front, Asian equity markets are trading mixed as U.S. President Donald Trump announced a 19 percent tariff on Indonesian exports under a new bilateral pact. European equity markets were trading mostly in green after reports of European Union preparing a second list of U.S. products, including aircraft, machinery and wines worth around $77 billion, that would face retaliatory duties if the bloc doesn't reach a deal by Trump's August 1 deadline.

The BSE Sensex is currently trading at 82705.50, up by 134.59 points or 0.16% after trading in a range of 82342.94 and 82784.75. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index surged 0.20%, while Small cap index was up by 0.35%.

The top gaining sectoral indices on the BSE were IT up by 0.76%, TECK up by 0.64%, FMCG up by 0.49%, PSU up by 0.43% and Realty up by 0.42%, while Metal down by 0.58%, Basic Materials down by 0.32%, Capital Goods down by 0.09%, Healthcare down by 0.04% were the top losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 2.02%, SBI up by 1.80%, Tech Mahindra up by 1.79%, Infosys up by 1.44% and Adani Ports & SEZ up by 1.04%. On the flip side, Eternal down by 1.50%, Sun Pharmaceutical Industries down by 1.39%, Tata Steel down by 0.94%, Tata Motors down by 0.80% and Power Grid Corporation down by 0.65% were the top losers.

Meanwhile, overall performance across the auto sector remained subdued, as the Society of Indian Automobile Manufacturers (SIAM) in its latest report has said that domestic passenger vehicle sales fell 1.4 per cent to 10,11,882 units in the first quarter of this fiscal (Q1 FY26) from 10,26,006 in the corresponding quarter of last fiscal. According to the report, total two-wheelers sales also fell by 6.2 per cent to 46,74,562 units during the April-June quarter of FY26 as compared to 49,85,631 units in the period a year earlier. The commercial vehicle (CV) saw a marginal 0.6 per cent fall in sales to 2,23,215 units in the June quarter of the current fiscal from 2,24,575 units in the first quarter of the previous fiscal.

On the export front, passenger vehicles saw their highest ever exports in the quarter under review with 2.04 lakh units, registering a growth of 13.2 per cent over the same quarter last year. Meanwhile, SIAM said that looking ahead to Q2, the overall industry outlook remains cautiously optimistic. While the challenges from the first quarter may continue to linger in the near term, several positive macroeconomic and seasonal indicators could support a gradual recovery. The upcoming festive season typically serves as a demand driver, particularly for PVs and two-wheelers, and could help uplift consumer sentiments.

SIAM also said that an above-normal monsoon is likely to aid rural income recovery, which is especially important for two-wheelers and entry-level vehicles that rely heavily on rural demand, adding that the RBI's cumulative repo rate cuts of 100 basis points over the past six months are expected to gradually ease borrowing costs which could positively impact the auto sector by improving affordability and boosting consumer sentiment in the coming months. However, supply-side challenges, especially the recent export licensing requirement from China on rare earth magnets, have been a concern for OEMs of all categories.

The CNX Nifty is currently trading at 25227.70, up by 31.90 points or 0.13% after trading in a range of 25121.05 and 25255.30. There were 24 stocks advancing against 26 stocks declining on the index.

The top gainers on Nifty were Mahindra & Mahindra up by 2.06%, Wipro up by 2.02%, Nestle up by 1.87%, SBI up by 1.86% and Tech Mahindra up by 1.80%. On the flip side, Shriram Finance down by 2.40%, Eternal down by 1.44%, Sun Pharmaceutical Industries down by 1.31%, Tata Steel down by 0.92% and Hindalco down by 0.77% were the top losers.

Asian markets are trading mixed; Jakarta Composite gained 70.84 points or 0.98% to 7,211.31, Taiwan Weighted added 206.96 points or 0.9% to 23,042.90 and Straits Times rose 8.36 points or 0.2% to 4,128.18, while Hang Seng declined 72.36 points or 0.3% to 24,517.76, Shanghai Composite weakened 1.22 points or 0.03% to 3,503.78, KOSPI dropped 28.90 points or 0.91% to 3,186.38 and Nikkei 225 slipped 14.62 points or 0.04% to 39,663.40.

European markets were trading mostly in green; UK’s FTSE 100 increased 17.08 points or 0.19% to 8,955.40 and Germany’s DAX gained 32.75 points or 0.14% to 24,093.04, while France’s CAC fell 0.71 points or 0.01% to 7,765.50.
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