Indian equity benchmarks erased some of their initial gains and traded marginally higher in morning deals, led by gains in Capital Goods, TECK and Energy stocks. Some support also came as a business survey showed India's manufacturing activity accelerated to a 14-month high in June, driven by a substantial rise in international sales that boosted output and sparked record-breaking hiring. The HSBC India Manufacturing Purchasing Managers' Index, compiled by S&P Global, climbed to 58.4 in June from May's 57.6 and in line with a preliminary estimate released last week. However, gains remain capped as some concern came as data showed India's industrial production growth slowed to a nine-month low of 1.2 per cent in May 2025 due to poor performance of manufacturing, mining and power sectors. The factory output, measured in terms of the Index of Industrial Production (IIP), had expanded by 6.3 per cent in May 2024. On the global front, Asian markets are trading mostly higher as investors closely watch trade talks with the United States ahead of President Donald Trump's July 9 tariff deadline.

The BSE Sensex is currently trading at 83674.05, up by 67.59 points or 0.08% after trading in a range of 83597.51 and 83874.29. There were 13 stocks advancing against 17 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.24%, while Small cap index was down by 0.27%.

The top gaining sectoral indices on the BSE were Capital Goods up by 0.69%, TECK up by 0.27%, Energy up by 0.27%, Industrials up by 0.22% and Consumer Durables up by 0.16%, while Metal down by 0.81%, Healthcare down by 0.36%, Bankex down by 0.35%, Basic Materials down by 0.29% and PSU down by 0.28% were the top losing indices on BSE.

The top gainers on the Sensex were Bharat Electronics up by 2.80%, Asian Paints up by 1.20%, Reliance Industries up by 0.96%, Ultratech Cement up by 0.92% and Bharti Airtel up by 0.78%. On the flip side, Axis Bank down by 2.01%, Tata Steel down by 1.10%, Trent down by 1.04%, Sun Pharma down by 0.92% and Eternal down by 0.87% were the top losers.

Meanwhile, the government data has showed that Gross goods and services tax (GST) collections doubled in five years to reach an all-time high of Rs 22.08 lakh crore in the FY25 fiscal year, from Rs 11.37 lakh crore in FY21. The gross GST collections touched its highest-ever level of Rs 22.08 lakh crore in FY25, registering a 9.4 per cent growth over the previous fiscal year. The average monthly collection stood at Rs 1.84 lakh crore in FY25, up from Rs 1.68 lakh crore in FY24 and Rs 1.51 lakh crore in FY22.

In 2023-24 and 2022-23, GST collections were Rs 20.18 lakh crore and Rs 18.08 lakh crore in 2022-23. In 2021-22, total gross GST collections were Rs 11.37 lakh crore, and the average monthly collection was Rs 95,000 crore. In eight years, the number of registered taxpayers under GST has risen from 65 lakh in 2017 to over 1.51 crore. GST, which was launched on July 1, 2017, completes eight years on Monday (June 30, 2025).

The government stated ‘Since its rollout, the goods and services tax has shown strong growth in revenue collection and tax base expansion. It has steadily strengthened India’s fiscal position and made indirect taxation more efficient and transparent.’ GST subsumed about 17 local taxes and 13 cesses into a five-tier structure, simplifying the tax regime. Monthly GST collection had touched a record high of Rs 2.37 lakh crore in April 2025. In May 2025, it was at Rs 2.01 lakh crore.

The CNX Nifty is currently trading at 25545.80, up by 28.75 points or 0.11% after trading in a range of 25513.80 and 25593.40. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Apollo Hospital up by 3.17%, Bharat Electronics up by 2.78%, Reliance Industries up by 1.29%, Asian Paints up by 1.19% and Ultratech Cement up by 0.74%. On the flip side, Axis Bank down by 1.92%, Tata Steel down by 1.02%, Trent down by 1.01%, Eternal down by 0.93% and Hindalco down by 0.83% were the top losers.

Asian markets are trading mostly higher; Taiwan Weighted added 280.09 points or 1.26% to 22,536.11, KOSPI increased 33.36 points or 1.09% to 3,105.06, Straits Times rose 31.96 points or 0.81% to 3,996.25 and Shanghai Composite strengthened 7.26 points or 0.21% to 3,451.69.

On the flip side, Nikkei 225 slipped 388.87 points or 0.96% to 40,098.52 and Jakarta Composite plunged 16.07 points or 0.23% to 6,911.61.