Indian markets traded at day’s high levels in early afternoon session following positive cues from other Asian markets. Sentiments were upbeat as Israel agreed to a ceasefire with Iran. Traders took support as S&P Global Ratings has raised India's Gross Domestic Product (GDP) forecast to 6.5 per cent for current fiscal (FY26) assuming a normal monsoon, lower crude oil prices, income-tax concessions and monetary easing. S&P's growth estimates for India is in line with the projections made by central bank RBI earlier this month at 6.5 per cent. Sector wise, agriculture sector remained in limelight as paddy sowing as on June 20, 2025 this Kharif season is higher by 58 per cent at 13.22 lakh hectares, according to the government data. Sowing of paddy stood at 8.37 lakh hectares in the same period last year. On the global front, all Asian markets were trading higher after US President Donald Trump announced that Iran and Israel have agreed to a ceasefire. 

The BSE Sensex is currently trading at 82985.20, up by 1088.41 points or 1.33% after trading in a range of 82360.04 and 83018.16. There were 27 stocks advancing against 2 stocks declining on the index, while 1 stock remained unchanged. 

The broader indices were trading in green; the BSE Mid cap index gained 1.00%, while Small cap index was up by 1.13%.

The top gaining sectoral indices on the BSE were Metal up by 1.82%, Basic Materials up by 1.78%, Auto up by 1.70%, Telecom up by 1.63% and Bankex was up by 1.43%, while there were no losing sectoral indices on the BSE. 

The top gainers on the Sensex were Adani Ports up by 3.67%, Ultratech Cement up by 3.12%, Larsen & Toubro up by 2.70%, Tata Steel up by 2.66% and Mahindra & Mahindra up by 2.55%. On the flip side, NTPC down by 1.05% and Power Grid down by 0.24% were the top losers.

Meanwhile, S&P Global Ratings has raised India's Gross Domestic Product (GDP) forecast to 6.5 per cent for current fiscal (FY26) assuming a normal monsoon, lower crude oil prices, income-tax concessions and monetary easing. S&P's growth estimates for India is in line with the projections made by central bank RBI earlier this month at 6.5 per cent. Earlier, S&P had lowered India's FY26 growth estimates by 20 basis points to 6.3 per cent citing global uncertainties and US tariff shocks.

S&P also flagged rising risks to the global economy due to the turbulence in the Middle East saying long-lasting major increases in oil prices could have significant economic impact in Asia-Pacific, notably via slower global growth and pressure on the current accounts of net energy importers, prices and costs. However, S&P said current conditions on global energy markets--which are well-supplied-- make such long-term impact on oil prices unlikely. India is 90 per cent dependent on imports to meet its crude oil needs and buys roughly half of its natural gas from overseas. 

In its Asia Pacific Economic Outlook, S&P said domestic demand resilience is particularly relevant in limiting the economic slowdown in economies less exposed to goods exports such as India. S&P said it expects the increase in US import tariffs and the uncertainty about them to harm trade, investment and growth globally. It added that the crisis in the Middle East has escalated over the last 12 days with US military strikes on Iran's three most critical nuclear facilities. US joined the war against Iran after Israeli strikes and counterstrikes by Iran.

The CNX Nifty is currently trading at 25284.80, up by 312.90 points or 1.25% after trading in a range of 25118.50 and 25317.70. There were 45 stocks advancing against 5 stocks declining on the index.

The top gainers on Nifty were JIO Financial up by 3.67%, Adani Ports up by 3.52%, Ultratech Cement up by 3.05%, Tata Steel up by 2.63% and Larsen & Toubro up by 2.63%. On the flip side, ONGC down by 2.62%, NTPC down by 0.77%, Indusind Bank down by 0.56%, Power Grid down by 0.38% and Bharat Electronics down by 0.26% were the top losers.

All Asian markets were trading higher; Hang Seng advanced 490.93 points or 2.07% to 24,180.06, Taiwan Weighted added 456.74 points or 2.06% to 22,188.76, Nikkei 225 surged 436.47 points or 1.13% to 38,790.56, Jakarta Composite gained 89.23 points or 1.31% to 6,876.37, KOSPI increased 89.17 points or 2.87% to 3,103.64, Shanghai Composite strengthened 36.65 points or 1.08% to 3,418.23 and Straits Times was up by 20.72 points or 0.53% to 3,899.98.