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Markets trade firm amid strong global cues
Dec-19-2025

Indian equity benchmarks made an optimistic start on Friday, tracking overnight gains on Wall Street as well as firm trade in Asian counterparts on renewed confidence the US Fed will continue to cut interest rates next year after the release of unexpectedly tamer-than-expected U.S. inflation data. Sensex and Nifty were trading in fine-fettle in early deals on account of value buying in all the sector indices coupled with foreign fund inflows. FIIs remained net buyers and bought shares worth Rs 596 crore on Thursday. Sentiments got boost as India and Oman signed a historic free trade agreement to provide duty-free access to a host of Indian labour-intensive sectors. In sector specific move, stocks of food delivery platforms were be in focus as an NCAER-Prosus report said that India's food delivery platforms generated Rs 1.2 lakh crore in gross output in 2023-24 and have been expanding at a rate faster that of the overall economy, thus emerging as a powerful economic engine.

The BSE Sensex is currently trading at 84931.27, up by 449.46 points or 0.53% after trading in a range of 84734.96 and 85014.83. There were 27 stocks advancing against 3 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.54%, while Small cap index was up by 0.72%.

The top gaining sectoral indices on the BSE were Realty up by 1.15%, Healthcare up by 1.12%, Capital Goods up by 0.97%, Telecom up by 0.96% and Industrials up by 0.89%, while there was no loser on the BSE sectoral front.

The top gainers on the Sensex were Tata Motors Passenger Vehicles up by 1.95%, Bharat Electronics up by 1.71%, Reliance Industries up by 1.27%, Infosys up by 1.17% and Bajaj Finserv up by 1.13%. On the flip side, HCL Technologies down by 0.32%, Tech Mahindra down by 0.09% and ICICI Bank down by 0.04% were the top losers.

Meanwhile, in a move to diversify India's exports after its largest export destination (the US) imposed steep tariffs on Indian goods from August, India has signed the Comprehensive Economic Partnership Agreement (CEPA) with Oman. This free trade agreement will provide duty-free access to a host of Indian labour-intensive sectors, including engineering goods and textiles. The CEPA was signed by Commerce and Industry Minister Piyush Goyal and Oman's Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef in Muscat. The deal is likely to be implemented by the first quarter of 2026. Talks for the agreement formally began in November 2023, and the negotiations concluded this year.

As per the agreement, Oman has offered zero-duty access on over 98 of its tariff lines or product categories, covering 99.38 per cent of India's exports to the Gulf country. All major labour-intensive sectors, including gems and jewellery, textiles, leather, footwear, sports goods, plastics, furniture, agricultural products, engineering products, pharmaceuticals, medical devices, and automobiles, will attract nil duty. These goods, at present, attract import duties in the range of 5-100 per cent in Oman. On the other hand, India is offering duty concessions on 77.79 per cent of its total tariff lines (12,556), which covers 94.81 per cent of India's imports from Oman by value. For products of export interest to Oman and those that are sensitive to India, the offer is mostly a tariff-rate quota (TRQ) based tariff liberalisation, which includes products like dates, marbles and petrochemical items.

In July, India had inked a comprehensive trade pact with the UK, and negotiations are in the last phase with the European Union and New Zealand. India is also strengthening its presence in the Middle East nations. In May 2022, it implemented a pact with the UAE and will soon start talks with Qatar. These nations are members of the Gulf Cooperation Council (GCC). Though Oman is a small country, it has strategic importance as the country borders the Strait of Hormuz, an important maritime chokepoint. Asian companies use this passage for oil trade. Oman is also an important strategic partner in the region for India, as it is a key gateway for Indian goods and services to the wider Middle Eastern and African nations. 

For the first time, Oman has offered wide-ranging commitments under Mode 4 (movement of skilled professionals), including a notable increase in the quota for intra-corporate transferees from 20 per cent to 50 per cent, together with a longer permitted duration of stay for contractual service suppliers - extended from the existing 90 days to two years, with the possibility of a further two-year extension. In addition, both sides have agreed to hold future discussions on the social security pact once Oman's contributory social security system is implemented. India-Oman bilateral trade was about $10.5 billion (exports $4 billion and imports $6.54 billion) in 2024-25. The pact is expected to help additional $2 billion in the next 2-3 years. India has received $615.54 million in foreign direct investment from Oman between April 2000 and September 2025.

The CNX Nifty is currently trading at 25943.85, up by 128.30 points or 0.50% after trading in a range of 25880.45 and 25970.40. There were 44 stocks advancing against 6 stocks declining on the index.

The top gainers on Nifty were Tata Motors Passenger Vehicles up by 1.98%, Max Healthcare Inst up by 1.84%, Bharat Electronics up by 1.77%, JIO Financial Services up by 1.47% and Reliance Industries up by 1.25%. On the flip side, Shriram Finance down by 1.18%, HCL Technologies down by 0.27%, Tech Mahindra down by 0.12%, HDFC Life Insurance down by 0.09% and ICICI Bank down by 0.05% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 543.5 points or 1.11% to 49,545.00, Taiwan Weighted added 308.95 points or 1.12% to 27,777.48, Hang Seng advanced 186.87 points or 0.73% to 25,685.00, KOSPI increased 39.85 points or 1% to 4,034.36, Shanghai Composite strengthened 22.94 points or 0.59% to 3,899.31 and Straits Times rose 5.89 points or 0.13% to 4,576.50, while Jakarta Composite was down by 44.55 points or 0.52% to 8,573.65.
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