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Bourses trade flat in early afternoon session
May-06-2026

Indian markets were trading flat in early afternoon session. Sensex traded in red, while Nifty traded marginally in green. Some cautiousness came as Confederation of Indian Industry (CII) President Rajiv Memani stated that a prolonged conflict in West Asia, accompanied by major disruptions in shipping and rising energy prices, poses a serious threat to India's economic growth momentum and likely to pull down the country's gross domestic product (GDP) growth to below 6.5%. However, U.S. President Donald Trump signaled progress toward a potential final agreement with Iran, which helped markets trade near the flat line. Sector wise, sugar stocks remained in limelight as government has decided to increase the Fair and Remunerative Price (FRP) of sugarcane by Rs 10 to Rs 365 per quintal for the 2026-27 season starting in October. On the global front, all Asian markets were trading higher amid signs of de-escalation in the Middle East conflict. 

The BSE Sensex is currently trading at 76969.80, down by 47.99 points or 0.06% after trading in a range of 76918.03 and 77675.01. There were 18 stocks advancing against 12 stocks declining on the index. 

The top gaining sectoral indices on the BSE were Telecom up by 2.33%, Healthcare up by 1.70%, Realty up by 1.07%, TECK up by 0.72% and Consumer discretionary was up by 0.67% while, Power down by 0.76%, Utilities down by 0.61%, Industrials down by 0.59%, FMCG down by 0.56% and Energy was down by 0.40% were the top losing indices on BSE.

The top gainers on the Sensex were Trent up by 2.98%, Interglobe Aviation up by 2.84%, Asian Paints up by 1.93%, Bharti Airtel up by 1.36% and Mahindra & Mahindra up by 1.33%. On the flip side, Larsen & Toubro down by 3.41%, Reliance Industries down by 1.65%, Hindustan Unilever down by 1.35%, Power Grid down by 1.00% and Titan Company down by 0.87% were the top losers.

Meanwhile, Confederation of Indian Industry (CII) President Rajiv Memani has said that a prolonged conflict in West Asia, accompanied by major disruptions in shipping and rising energy prices, poses a serious threat to India's economic growth momentum and likely to pull down the country's gross domestic product (GDP) growth to below 6.5%. Memani said that the ongoing energy crisis on account of the West Asia conflict poses the biggest risk to global economic growth - including India's - if it drags on for a long time. 

He stated ‘If it (West Asia crisis) does settle on time, then I think, you know, the growth momentum should pick up. You know, we should be somewhere between 6.5 to 7%. If it extends for a very, very long time, then, you know, maybe slower than 6.5%.’ However, he said that any concrete predictions for GDP growth and interest rates remain uncertain until the situation in West Asia stabilizes. 

On elevated crude oil prices and their impact on the Indian economy, he said ‘There is enough evidence of different price points and different impacts on India's growth. I think by and large, over the last 10-12 years, except for some phases in between, oil prices have been benign, and I think that's also helped India to achieve strong growth.’ Moreover, he noted that any price above $100 per barrel is likely to impact growth, as India has not yet sufficiently altered its demand patterns.

The CNX Nifty is currently trading at 24054.65, up by 21.85 points or 0.09% after trading in a range of 24029.75 and 24250.85. There were 32 stocks advancing against 17 stocks declining on the index, while 1 stock remained unchanged. 

The top gainers on Nifty were Interglobe Aviation up by 2.86%, Trent up by 2.82%, Cipla up by 1.96%, Asian Paints up by 1.93% and Dr. Reddy's Lab up by 1.62%. On the flip side, Larsen & Toubro down by 3.42%, ONGC down by 1.74%, Reliance Industries down by 1.51%, Hindustan Unilever down by 1.26% and Power Grid down by 1.14% were the top losers.

All Asian markets were trading higher; Taiwan Weighted added 369.56 points or 0.9% to 41,138.85, Hang Seng advanced 246.39 points or 0.95% to 26,145.00, Jakarta Composite gained 30.31 points or 0.43% to 7,087.42, KOSPI increased 447.57 points or 6.06% to 7,384.56, Shanghai Composite strengthened 48.01 points or 1.17% to 4,160.17 and Straits Times was up by 3.98 points or 0.08% to 4,924.59.
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