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Key indices end in green amid volatility
Jul-30-2026

Indian equity benchmarks ended on positive note in the volatile session on Thursday, driven by a rally in blue-chip stocks Maruti Suzuki India, Mahindra & Mahindra and Reliance Industries. Also, strengthening foreign fund inflows, a firmer rupee, and encouraging Q1FY27 earnings supported sentiment. However, gains remain capped as investors remained watchful of the evolving geopolitical situation in West Asia.

Some of the important factors in trade: 

India-US BTA first tranche to come into operation as India gets comparative advantage: Commerce and Industry Minister Piyush Goyal has said that the first tranche of the bilateral trade agreement (BTA) between India and the US will come into operation as soon as the United States is able to ensure that India gets a comparative advantage over its competitors. 

Services index shows 16 sub-sectors recorded double-digit growth in May: The government has released the second sub-sectoral trial Index of Services Production, which showed eight out of the 19 sub-sectors of formal services recorded double-digit growth in May 2026. The Ministry of Statistics & Programme Implementation (MoSPI) released the Index of Services Production (ISP) for May 2026 on 19 sub-sectors, with base year 2024-25.

GST implementation strengthens state governments’ tax revenues, improves tax buoyancy: India Ratings and Research (Ind-Ra) has said that the implementation of the GST has significantly strengthened state governments’ tax revenues and improved tax buoyancy, with Maharashtra accounting for the highest share of state taxes post-GST.

Oil imports decisions should be guided by economic interests, energy security, not tariff threats: At a time when threat of additional tariffs looms in front of India for buying Russian oil, the Global Trade Research Initiative (GTRI) has suggested that decisions on crude oil imports should be guided by India's economic interests, energy security and strategic autonomy, rather than the threat of additional US tariffs.

Global front: European markets were trading higher as preliminary flash estimate published by Eurostat showed the euro area economy registered its strongest growth since the first quarter of 2025. Asian markets ended mixed on Thursday as investors reacted to escalating Middle East tensions, mixed tech earnings and a sell-off in U.S. bond markets amid uncertainty over where U.S. interest rates are headed. 

Finally, the BSE Sensex rose 273.55 points or 0.35% to 77,928.15 and the CNX Nifty was up by 66.95 points or 0.28% to 24,317.15.  

The BSE Sensex touched high and low of 78,007.09 and 77,440.91, respectively. There were 15 stocks advancing against 15 stocks declining on the index.      

The top gaining sectoral indices on the BSE were Auto up by 1.58%, Energy up by 0.73%, Consumer Discretionary up by 0.48%, Oil & Gas up by 0.38% and PSU up by 0.26%, while Realty down by 2.10%, Capital Goods down by 0.61%, Industrials down by 0.42%, Basic Materials down by 0.39% and Healthcare down by 0.22% were the top losing indices on BSE.

The top gainers on the Sensex were Maruti Suzuki India up by 1.77%, Mahindra & Mahindra up by 1.73%, Reliance Industries up by 1.44%, State Bank of India up by 1.22% and HDFC Bank up by 1.06%. On the flip side, Adani Ports &SEZ down by 3.26%, Ultratech Cement down by 1.25%, Interglobe Aviation down by 0.87%, Bajaj Finserv down by 0.83% and Bharat Electronics down by 0.74% were the top losers.

Meanwhile, expressing optimism over early enforcement of India-US trade agreement, Commerce and Industry Minister Piyush Goyal has said that the first tranche of the bilateral trade agreement (BTA) between India and the US will come into operation as soon as the United States is able to ensure that India gets a comparative advantage over its competitors. He also said that as long as India has a comparative advantage or comparable duties, 'I think India will continue to grow its exports and continue to leverage the large U.S. opportunity'.

He added that India participated in the United States Trade Representative’s (USTR's) Section 301 investigations against forced labour concerns. The US has imposed a 10 per cent tariff under that probe on India. He said 'I have categorically and on several occasions expressed the confidence that what we have finalized with the US as the first tranche of the bilateral trade agreement, which was announced by our leaders on February 03, will come into operation as soon as the United States is able to ensure that we get a comparative advantage over our competitors, the countries in our neighborhood, the countries in the ASEAN region and other countries with whom we compete'.

He said that was the basis of the first tranche of the BTA and once that basis is re-established, the US BTA will be ready up and about. He added 'For us, as long as we have comparative advantage or comparable duties, I think India will continue to grow its exports and continue to leverage the large U.S. opportunity'. Countries including Sri Lanka, Bangladesh, Thailand, Cambodia, Vietnam, Indonesia and Malaysia are major competitors of India in the US market. Tariff advantage vis-a-vis these nations will give a price competitiveness to the Indian goods in the American market. Meanwhile, India exported goods worth about $87 billion to the US in 2025-26.

CNX Nifty touched high and low of 24,342.95 and 24,187.10, respectively. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were Mahindra & Mahindra up by 2.26%, Coal India up by 1.79%, Eicher Motors up by 1.67%, Maruti Suzuki India up by 1.66% and Tata Motors Passenger Vehicles up by 1.55%. On the flip side, Adani Ports &SEZ down by 3.38%, HDFC Life Insurance down by 2.09%, Shriram Finance down by 1.50%, SBI Life Insurance Company down by 1.47% and JIO Financial Services down by 1.13% were the top losers. 

European markets were trading higher; UK’s FTSE 100 increased 18.72 points or 0.17% to 10,927.13, France’s CAC rose 76.63 points or 0.91% to 8,484.90 and Germany’s DAX gained 32.52 points or 0.13% to 25,493.00.

Asian markets ended mixed on Thursday as investors’ focus shifted to the US PCE price data due later in the day that might provide further insights into the inflation outlook and the likely path of interest rates. Meanwhile, investors remained cautious as the United States carried out fresh strikes on Iran, further intensifying a five-month-old war that is spreading beyond its main fronts to embroil more countries across the region. Chinese shares fell, led by steep declines in technology, artificial intelligence, and semiconductor hardware sectors amid valuation concerns. South Korea’s Kospi index dropped as Samsung Electronics’ better-than-expected earnings failed to calm market jitters and the government announced additional measures to stabilize the local stock market and curb retail access to single-stock leveraged exchange-traded funds (ETFs) after a severe market rout wiped out billions of investor dollars. Japanese markets rose as semiconductor shares rallied after Advantest issued a stronger-than-expected profit outlook.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,804.69

-23.78

-0.62

Hang Seng

25,858.88

50.96

0.20

Jakarta Composite

6,186.36

94.97

1.54

KLSE Composite

1,720.40

4.84

0.28

Nikkei 225

61,867.43

433.24

0.71

Straits Times

5,673.58

-39.61

-0.69

KOSPI Composite

5,593.56

-69.68

-1.23

Taiwan Weighted

39,933.30

-105.88

-0.26
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