HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Markets pare some gains in late trade
Jul-03-2026

Indian equity markets have pared some gains in afternoon session as traders opted to book profits at higher levels following the recent gains made by the markets. However, markets continued to trade in positive territory as weaker-than-expected US June jobs data fade expectations of an interest rate hike by the US Federal Reserve. Further, investors were sanguine as Brent crude oil prices remained below $75 a barrel mark amid easing tension in West Asia.

On the global front, all Asian equity markets were trading higher amid fading expectations for a Federal Reserve rate hike. European equity markets were trading mostly in red after France's industrial production dropped marginally in May after rising for two straight months.

The BSE Sensex is currently trading at 77827.46, up by 325.34 points or 0.42% after trading in a range of 77780.04 and 78157.52. There were 18 stocks advancing against 12 stocks declining on the index.

The top gaining sectoral indices on the BSE were Realty up by 2.00%, IT up by 1.63%, TECK up by 1.60%, Healthcare up by 1.21% and Metal up by 0.94%, while Power down by 2.33%, Capital Goods down by 2.09%, Industrials down by 1.35%, Utilities down by 0.57% and PSU down by 0.44% were the top losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 5.95%, Bajaj Finserv up by 2.35%, Sun Pharmaceutical Industries up by 1.85%, Bharti Airtel up by 1.84% and Tata Steel up by 1.52%. On the flip side, Axis Bank down by 1.70%, State Bank of India down by 1.24%, Interglobe Aviation down by 1.00%, Kotak Mahindra Bank down by 0.94% and Mahindra & Mahindra down by 0.87% were the top losers.

Meanwhile, Crisil Ratings in its latest report has said that revenue growth of India’s specialty chemical manufacturers is likely to slow by 200 basis points (bps) to around 6 per cent in the current financial year (FY27) from around 8 per cent growth recorded in each of the previous two financial years. It said that while domestic demand is expected to support growth, weak exports due to supply disruptions and cautious overseas buying are likely to weigh on overall performance. It said trade flows could take a couple of quarters to normalise if the easing in the West Asia conflict sustains. 

The report also expects industry’s operating margins to narrow to 14-14.5 per cent in FY27 from around 16 per cent in the previous fiscal, primarily because of subdued exports. However, the impact will vary across segments depending on raw material exposure and pricing power. It said domestic sales account for nearly two-thirds of industry revenue, with agrochemicals contributing around 30 per cent followed by dyes and pigments (22 per cent) and flavours and fragrances (14 per cent). 

On profitability, the report said pressure will vary by raw material exposure, including crude-linked ethylene, propylene, BTX and fluorine-based inputs, despite diversified end-user demand. Ethylene and propylene manufacturers are likely to face sharper pressure because of higher crude linkage and limited pricing power. BTX makers may fare better, supported by value-added products and moderate pricing power. Fluorine-based chemistries should remain relatively resilient, aided by niche positioning and stronger passthrough ability. It said recent custom duty exemptions on select petrochemical inputs may provide limited relief but are unlikely to significantly offset broader raw material cost volatility.

The CNX Nifty is currently trading at 24279.80, up by 104.10 points or 0.43% after trading in a range of 24264.80 and 24378.15. There were 33 stocks advancing against 17 stocks declining on the index.

The top gainers on Nifty were HCL Technologies up by 5.88%, Bajaj Finserv up by 2.37%, Max Healthcare Inst. up by 2.31%, Dr. Reddy's Laboratories up by 2.09% and Apollo Hospitals Enterprise up by 1.98%. On the flip side, Axis Bank down by 1.52%, State Bank of India down by 1.26%, Mahindra & Mahindra down by 0.96%, Interglobe Aviation down by 0.89% and Kotak Mahindra Bank down by 0.83% were the top losers.

All Asian equity markets were trading higher; Nikkei 225 surged 911.85 points or 1.31% to 69,645.00, Taiwan Weighted added 36.46 points or 0.08% to 46,780.62, Hang Seng advanced 229.97 points or 0.99% to 23,285.00, KOSPI increased 440.25 points or 5.44% to 8,088.34, Straits Times rose 12.05 points or 0.23% to 5,229.20, Shanghai Composite strengthened 14.74 points or 0.36% to 4,043.64 and Jakarta Composite gained 138.03 points or 2.35% to 5,882.59.

European equity markets were trading mostly in red; UK’s FTSE 100 decreased 31.46 points or 0.3% to 10,621.41 and France’s CAC fell 15.96 points or 0.19% to 8,458.90, while Germany’s DAX gained 65.22 points or 0.25% to 25,646.10.
  RELATED NEWS >>
Most Viewed >>
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.