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Indian markets add some gains in early noon deals
Jul-30-2026

Indian equity benchmarks added some gains in early afternoon deals, aided by heavy buying at IT and Auto counters, despite mixed cues from other Asian markets as oil prices surged again on reports of fresh strikes on Iran and Federal Reserve Chair Kevin Warsh avoided giving any rate path guidance after holding rates for a fifth consecutive meeting in a rare 9-3 split vote. Sentiments were upbeat, as India Ratings and Research (Ind-Ra) has said that the implementation of the Goods and Services Tax (GST) has significantly strengthened state governments’ tax revenues and improved tax buoyancy, with Maharashtra accounting for the highest share of state taxes post-GST, supported by strong domestic consumption and a presence of large services sectors.

On the global front, Asian markets were trading mixed, after Singapore's producer price inflation continued to remain elevated at the end of the second quarter. The data from the Department of Statistics showed that the manufacturing producer price index climbed 31.1 percent year-on-year in June, slightly faster than the 30.9 percent growth in May.

The BSE Sensex is currently trading at 77798.79, up by 144.19 points or 0.19% after trading in a range of 77440.91 and 77804.13. There were 14 stocks advancing against 16 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 1.17%, Auto up by 0.90%, TECK up by 0.88%, Energy up by 0.66% and Oil & Gas up by 0.32%, while Realty down by 1.39%, Capital Goods down by 0.70%, Basic Materials down by 0.41%, Industrials down by 0.40% and Bankex down by 0.37% were the top losing indices on BSE.

The top gainers on the Sensex were Tech Mahindra up by 2.17%, Infosys up by 1.59%, HCL Technologies up by 1.24%, Sun Pharma up by 1.23% and Mahindra & Mahindra up by 1.11%. On the flip side, Adani Ports & SEZ down by 3.22%, Ultratech Cement down by 1.92%, Eternal down by 1.48%, Asian Paints down by 1.32% and Interglobe Aviation down by 1.30% were the top losers.

Meanwhile, Global Trade Research Initiative (GTRI) has said that the government's decision to impose import restrictions on low-priced Suspension Grade Polyvinyl Chloride (S-PVC) resin for six months is likely to impact foreign suppliers and push the domestic prices of the commodity. Recently, the Directorate General of Foreign Trade (DGFT) has introduced a Minimum Import Price (MIP) of $0.766 per kg for S-PVC resin. Imports priced above this level will continue to be freely imported after payment of applicable customs duties. Imports priced at $0.766 per kg or below will now require a DGFT import licence in addition to payment of import duties. The measure will remain effective for six months.

According to GTRI, the move is expected to support higher domestic PVC prices but is unlikely to significantly reduce India's reliance on imports, as S-PVC resin is a critical raw material used in the manufacture of pipes, fittings, cables and a wide range of plastic products. The move is expected to increase domestic PVC resin prices but is unlikely to reduce India's heavy dependence on imports,' GTRI Founder Ajay Srivastava said adding it is a key raw material used to make pipes, fittings, cables and many other plastic products. 

GTRI stated that India imported $1.63 billion worth of the product in 2025-26. China was the largest supplier with exports worth $735.4 million, followed by Japan ($280.4 million), Taiwan ($152.7 million), South Korea ($123.6 million), Mexico ($92.9 million), Indonesia, Thailand, the US, Singapore and Vietnam. Since every major supplier ships below the DGFT threshold of $0.766 per kg, almost the entire existing import trade now falls within the restricted category unless suppliers increase their declared prices.

The CNX Nifty is currently trading at 24306.75, up by 56.55 points or 0.23% after trading in a range of 24187.10 and 24331.40. There were 26 stocks advancing against 24 stocks declining on the index.

The top gainers on Nifty were Wipro up by 2.61%, Tech Mahindra up by 2.23%, Max Healthcare Inst. up by 1.94%, ONGC up by 1.74% and Infosys up by 1.57%. On the flip side, Adani Ports & SEZ down by 3.19%, Shriram Finance down by 1.88%, Ultratech Cement down by 1.70%, Eternal down by 1.51% and JIO Financial Serv. down by 1.51% were the top losers.

Asian markets were trading mixed; KOSPI dropped 69.68 points or 1.25% to 5,593.56, Taiwan Weighted lost 105.88 points or 0.27% to 39,933.30, Straits Times fell 45.28 points or 0.79% to 5,667.91 and Shanghai Composite weakened 23.78 points or 0.62% to 3,804.69, while Jakarta Composite gained 57.05 points or 0.94% to 6,148.44, Hang Seng advanced 70.08 points or 0.27% to 25,878.00 and Nikkei 225 surged 475.81 points or 0.77% to 61,910.00.
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