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Sensex, Nifty trade higher as global equities rallied despite higher bond yields
Oct-06-2026

Indian equity benchmarks made a positive start on Tuesday tracking broadly positive global cues supported by lower oil prices and easing concerns about aggressive US monetary tightening following softer-than-expected jobs data. Some support came as India and Switzerland signed a migration and mobility partnership pact, decided to expand Swiss market access for Indian exports and agreed to further deepen cooperation in nuclear energy and defence domains. However, gains remained capped as elevated US Treasury yields and uncertainty around crude supplies kept investors cautious. Traders also remained on sidelines ahead of the Reserve Bank of India's monetary policy announcement on October 7.

Sensex and Nifty were trading higher with decent gains of around 0.35% each in early deals amid buying in select banking stocks, while gains were limited by selling pressure in IT and Teck stocks. Traders were eyeing the Services PMI data to be out later in the day.

On the global front, Asian markets were trading mostly higher after a technology-led rally on Wall Street lifted the Nasdaq to a record close. Investors were focusing on a dip in oil prices and looking ahead to quarterly earnings reports.

The BSE Sensex is currently trading at 72634.27, up by 251.80 points or 0.35% after trading in a range of 72384.83 and 72642.88. There were 14 stocks advancing against 16 stocks declining on the index.

The top gaining sectoral indices on the BSE were Telecom up by 1.74%, Capital Goods up by 0.95%, Power up by 0.81%, Industrials up by 0.78% and Basic Materials up by 0.77%, while IT down by 0.37%, TECK down by 0.20%, Auto down by 0.13% and Healthcare down by 0.03% were the few losing indices on BSE.

The top gainers on the Sensex were Trent up by 10.02%, Kotak Mahindra Bank up by 4.23%, Axis Bank up by 1.34%, Hindustan Unilever up by 1.10% and Reliance Industries up by 1.03%. On the flip side, Tech Mahindra down by 1.72%, Mahindra & Mahindra down by 0.85%, Infosys down by 0.83%, Titan Company down by 0.67% and ITC down by 0.61% were the top losers.

Meanwhile, regarding India-US trade pact, Finance Minister Nirmala Sitharaman has said that negotiations for the India-US trade agreement are still underway, but both sides appear to have reached a 'plateau', with limited room for further concessions from either side. She said a predominant feature of India-US trade relations is the trade imbalance in India's favour, with the US seeking to reduce its deficit. She said “Naturally, the deficit is there on their side, or the balance is unfavourable for the US, so they would want to reduce that imbalance” and added that Washington would seek to make up, from its perspective, for what it believes it has lost over the years.

Drawing a comparison with India's trade relationship with China, Sitharaman said trade imbalances have traditionally been addressed through negotiations, with countries seeking greater market access for their goods and services. However, she said tariffs are increasingly being used as a tool to address trade imbalances. She said 'Now the imbalance is being sought to be addressed through other means, where tariffs have become weaponised. Tariff was an instrument of negotiation, and tariff had a certain framework within which you would apply it. Today, the framework is there, but tariffs are going”.

On the India-EU trade deal, Sitharaman observed that it is a standing example of how India is negotiating and finalising trade deals. She said that calling it the “Mother of All Deals” is absolutely appropriate, as it will be an agreement between people totalling two billion, covering one-quarter of the world’s trade and one-quarter of global GDP. She said 'Ultimately you're tailoring the agreement to keep national interest alive but to survive in a very challenging global environment where no WTO-related laws have been left to be respected”, and added that everybody's broken the law.

The CNX Nifty is currently trading at 22633.45, up by 77.70 points or 0.34% after trading in a range of 22561.60 and 22637.70. There were 27 stocks advancing against 23 stocks declining on the index.

The top gainers on Nifty were Trent up by 10.42%, Kotak Mahindra Bank up by 3.70%, BSE up by 2.47%, JIO Financial Services up by 2.02% and Axis Bank up by 1.40%. On the flip side, Max Healthcare Institute down by 1.48%, Tech Mahindra down by 1.41%, Apollo Hospital down by 1.26%, ITC down by 0.82% and Cipla down by 0.79% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 543.14 points or 0.78% to 70,490.00, Hang Seng rose 162.66 points or 0.67% to 24,203.00, Jakarta Composite gained 64.98 points or 1.06% to 6,183.84 and Straits Times added 11.4 points or 0.2% to 5,657.10. On the other hand, KOSPI dropped 75.88 points or 1.08% to 6,927.86 and Taiwan Weighted lost 53.34 points or 0.11% to 49,658.70. Meanwhile, Chinese market remained closed on account of holiday.
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