Indian equity benchmarks were trading flat with negative bias in morning deals as market awaits the conclusion of India-US trade deal, which is at its final stage. Some concern came as exchange data showed Foreign institutional investors (FIIs) offloaded equities worth Rs 1,970.14 crore on a net basis on Tuesday. However, traders took support as data showed India’s gross Goods and Services Tax (GST) collections for the month of June stood at over Rs 1.84 lakh crore recording a 6.2 per cent growth over same period last year when the gross GST collections stood at Rs 1,73,813 crore. Sector-wise, stocks related to power sector remained in watch as data showed power consumption in the country dipped slightly by 1.5 per cent to 150.04 billion units (BU) in June, compared to the year-ago period, mainly due to reduced usage of cooling appliances amid early onset of monsoon. On the global front, Asian markets are trading mostly in red after Trump confirmed he would stick to the July 9 deadline for hiking tariffs on trading partners, reigniting concerns over global trade tensions.

The BSE Sensex is currently trading at 83679.07, down by 18.22 points or 0.02% after trading in a range of 83607.00 and 83935.01. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.32%, while Small cap index was down by 0.46%.

The top gaining sectoral indices on the BSE were TECK up by 0.70%, IT up by 0.64%, Auto up by 0.11%, Telecom up by 0.11% and Metal up by 0.09%, while Industrials down by 0.55%, Capital Goods down by 0.51%, Realty down by 0.36%, PSU down by 0.29% and Power down by 0.27% were the top losing indices on BSE.

The top gainers on the Sensex were Infosys up by 1.09%, TCS up by 0.83%, Bharti Airtel up by 0.73%, Sun Pharma up by 0.62% and NTPC up by 0.56%. On the flip side, Bajaj Finserv down by 1.03%, Eternal down by 0.94%, Trent down by 0.91%, Bharat Electronics down by 0.82% and HDFC Bank down by 0.69% were the top losers.

Meanwhile, Minister of State for Textiles Pabitra Margherita has said that Free trade agreements (FTAs) with the US, UK and European Union (EU) will open new opportunities for the textiles sector in India. He stated ‘These are high-value, quality-conscious markets, and we are committed to equipping Indian exporters with the right strategy, standards, and compliance to seize these opportunities.’ 

Moreover, he said the country's textiles exports have crossed $34 billion, and it is aiming to reach $100 billion by 2030. He said the textile and apparel industry contributes 2.3 per cent to India's GDP, 13 per cent to industrial production, and 12 per cent to exports. 

Besides, he highlighted the vital role played by man-made fibres (MMF) in driving India towards its ambitious target of reaching $100 billion in textile and apparel exports by 2030. He emphasised the strategic significance of MMF in keeping pace with the trends in global demand and enhancing India’s competitiveness in the world.

The CNX Nifty is currently trading at 25523.55, down by 18.25 points or 0.07% after trading in a range of 25496.85 and 25608.10. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Infosys up by 1.34%, TCS up by 0.73%, Bharti Airtel up by 0.67%, Wipro up by 0.66% and JSW Steel up by 0.56%. On the flip side, Indusind Bank down by 3.25%, HDFC Life Insurance down by 1.52%, Shriram Finance down by 1.36%, Bajaj Finserv down by 1.16% and Trent down by 0.94% were the top losers.

Asian markets are trading mostly in red; Nikkei 225 slipped 49.04 points or 0.12% to 39,937.29, Taiwan Weighted lost 71.15 points or 0.32% to 22,482.57, KOSPI dropped 27.98 points or 0.91% to 3,061.67 and Jakarta Composite plunged 62.85 points or 0.92% to 6,852.51.

On the flip side, Shanghai Composite weakened 1.24 points or 0.04% to 3,456.51, Hang Seng advanced 148.37 points or 0.61% to 24,220.65 and Straits Times rose 19.34 points or 0.48% to 4,009.10.