Indian equity benchmarks were trading flat with negative bias in morning deals, as investors stayed on the sidelines ahead of the formal announcement of a trade deal with the US. Trading volumes remained subdued as investors awaited domestic corporate earnings results for Q1 FY26. However, traders took some support with exchange data showed Foreign Institutional Investors (FIIs) bought equities worth Rs 321.16 crore on Monday. Domestic Institutional Investors (DIIs) also bought stocks worth Rs 1,853.39 crore. Sector-wise, stocks related to cement sector remained in watch as Crisil Ratings said growth in India’s cement demand will recover to 6.5-7.5% this fiscal after falling to around 5% last fiscal. This growth, coupled with an uptick in realisations, will lift operating profitability by Rs 100 EBITDA per tonne, to a level just above the decadal average. On the global front, Asian markets are trading mostly in green after President Donald Trump suggested that he was still open to additional negotiations after imposing new tariff rates on partners including Japan and South Korea.

The BSE Sensex is currently trading at 83425.95, down by 16.55 points or 0.02% after trading in a range of 83320.95 and 83561.80. 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 0.24%, while Small cap index was down by 0.09%.

The top gaining sectoral indices on the BSE were Utilities up by 0.69%, Bankex up by 0.62%, Power up by 0.54%, PSU up by 0.28% and Oil & Gas up by 0.15%, while Consumer Durables down by 1.71%, Healthcare down by 0.68%, Auto down by 0.59%, Consumer Discretionary down by 0.40% and Telecom down by 0.40% were the top losing indices on BSE.

The top gainers on the Sensex were Kotak Mahindra Bank up by 3.92%, Eternal up by 1.49%, NTPC up by 1.26%, Bharat Electronics up by 0.88% and Asian Paints up by 0.62%. On the flip side, Titan Company down by 5.14%, Trent down by 1.57%, Sun Pharma down by 1.29%, HCL Technologies down by 1.01% and Mahindra & Mahindra down by 0.72% were the top losers.

Meanwhile, Department of Financial Services (DFS) Secretary M Nagaraju said that he has urged fintechs to focus on driving offline payment solutions to enhance financial inclusions. He highlighted that financial inclusion is increasingly recognised as a major factor in economic growth and poverty alleviation on a global scale.

He pointed out that seven of the 17 United Nations Sustainable Development Goals (UN SDGs) are directly connected to financial inclusion. This suggests the importance of improving access to financial services for the unbanked and under-served populations. To illustrate progress made in India, he recalled data from before 2014, when only about 35 per cent of adults in India had access to a bank account, as estimated by the Global Findex Database. 

In response to this situation, the Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in 2014 to improve financial access. Now, 99 per cent of adults in India have bank accounts. He added this scheme enabled lakhs of Indians to open bank accounts and integrate into the formal financial system.

The CNX Nifty is currently trading at 25449.10, down by 12.20 points or 0.05% after trading in a range of 25424.15 and 25495.90. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were Kotak Mahindra Bank up by 3.73%, Eternal up by 1.51%, NTPC up by 1.29%, Grasim Industries up by 1.17% and Bharat Electronics up by 0.96%. On the flip side, Titan Company down by 5.19%, Dr. Reddy's Lab down by 1.91%, Trent down by 1.68%, Cipla down by 1.36% and Bajaj Auto down by 1.35% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 103.63 points or 0.26% to 39,691.31, Hang Seng advanced 185.21 points or 0.77% to 24,073.04, KOSPI increased 43.94 points or 1.42% to 3,103.41, Straits Times rose 18.81 points or 0.46% to 4,050.67 and Shanghai Composite strengthened 20.03 points or 0.57% to 3,493.16.

On the flip side, Taiwan Weighted lost 158.2 points or 0.71% to 22,270.52 and Jakarta Composite plunged 1.99 points or 0.03% to 6,898.94.