Indian equity markets have extended gains and continue their northward journey in late trade amid monthly expiry of F&O contracts. Key gauges - Sensex and Nifty - continued to hover near day’s high as easing tension in middle has uplifted investors’ sentiments. Further, markets participants remained optimistic after the rating agency Icra in its Macro Update June 2025 has retained India's Gross Domestic Product (GDP) growth forecast for fiscal 2025-26 (FY2026) at 6.2 per cent, assuming well-distributed monsoons and crude oil prices averaging around $70/barrel. Meanwhile, small cap stocks have seemed to lag behind the key gauges as reflected by BSE Small cap index gaining just 0.07%.

On the global front, Asian equity markets are trading mixed as Japanese markets hit near five-month high boosted by tech shares, while Seoul stocks fell sharply due to profit taking following the recent market rally. European markets were trading higher despite worries over Fed independence and anxiety ahead of the impending deadline for U.S. President Trump's tariff deferrals.

The BSE Sensex is currently trading at 83620.92, up by 865.41 points or 1.05% after trading in a range of 82816.26 and 83706.16. There were 22 stocks advancing against 8 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.38%, while Small cap index was up by 0.07%.

The top gaining sectoral indices on the BSE were Metal up by 1.61%, Oil & Gas up by 1.36%, Energy up by 1.24%, Basic Materials up by 1.08%, Bankex up by 0.90%, while Realty down by 1.20% and IT down by 0.06% were the only losing indices on BSE.

The top gainers on the Sensex were Eternal up by 2.53%, Adani Ports & SEZ up by 2.34%, Bharti Airtel up by 2.26%, Bajaj Finance up by 2.24% and HDFC Bank up by 1.87%. On the flip side, Tech Mahindra down by 1.12%, Trent down by 0.44%, SBI down by 0.44%, Maruti Suzuki down by 0.36% and TCS down by 0.25% were the top losers.

Meanwhile, Union Minister Pemmasani Chandra Sekhar said that the government has approved around Rs 500 crore till date under Telecom Technology Development Fund (TTDF) to 120 projects in areas of 5G, 6G, chipsets and quantum technology. He said TTDF is flagship fund to support R&D and innovation in telecom technologies.

The minister highlighted that projects supported under TTDF should be closely aligned with real-world objectives, backed by clear monitoring mechanisms. To expedite decision-making, he suggested that the structure of evaluation committees may be streamlined and timelines clearly defined. He also encouraged greater involvement of reputed private equity professionals and domain experts to enrich the assessment process and improve sectoral relevance. In a bid to boost participation from emerging enterprises, he suggested simplifying the scheme guidelines to reduce entry barriers for startups and MSMEs. Structural streamlining of existing committees and feedback mechanisms were also recommended to ensure improved execution and support. 

Launched on October 1, 2022 and implemented by Digital Bharat Nidhi (DBN), TTDF supports cutting-edge research in areas such as 6G, quantum communication, secure chipsets, and intelligent rural connectivity. Since inception, the scheme has received over 1,340 proposals, with 120 R&D projects approved and Rs 499.6 crore sanctioned, of which Rs 187 crore has already been disbursed.

The CNX Nifty is currently trading at 25505.90, up by 261.15 points or 1.03% after trading in a range of 25259.90 and 25529.50. There were 40 stocks advancing against 10 stocks declining on the index.

The top gainers on Nifty were Shriram Finance up by 3.75%, JIO Financial Services up by 2.67%, Eternal up by 2.54%, Hindalco up by 2.49% and Adani Ports & SEZ up by 2.35%. On the flip side, Dr. Reddy's Laboratories down by 1.71%, Tech Mahindra down by 1.18%, Hero MotoCorp down by 0.79%, SBI down by 0.46% and Maruti Suzuki down by 0.45% were the top losers.

Asian markets are trading mixed; Jakarta Composite gained 65.26 points or 0.96% to 6,897.40, Nikkei 225 surged 642.51 points or 1.62% to 39,584.58, Taiwan Weighted added 61.73 points or 0.27% to 22,492.34 and Straits Times rose 10.17 points or 0.26% to 3,936.15, while Shanghai Composite weakened 7.52 points or 0.22% to 3,448.45, KOSPI dropped 28.69 points or 0.93% to 3,079.56 and Hang Seng declined 149.27 points or 0.61% to 24,325.40.

European markets were trading higher; UK’s FTSE 100 increased 11.21 points or 0.13% to 8,729.96, France’s CAC rose 8.41 points or 0.11% to 7,566.57 and Germany’s DAX gained 180.58 points or 0.76% to 23,678.91.