Indian equity benchmarks continued to trade in narrow range in late afternoon session as traders remained cautious ahead of anticipated India-US trade deal. Investors opted for wait-and-watch approach as some reports suggested that the white house is assessing the proposal made by India and the US president has to take the final decision. Meanwhile, downside remained capped amid Foreign Institutional Investors (FIIs) fund inflow. Besides, substantial up move has been seen in Cement stocks after the rating agency Crisil in its latest report estimated that India’s cement demand growth to recover to 6.5%-7.5% this fiscal (2025-2026), after falling to around 5% last fiscal (2024-2025). It added that the recovery in demand growth coupled with an uptick in realizations will lift operating profitability by around Rs 100, to a level just above the decadal average.

On the global front, Asian equity markets are trading mostly in green as U.S. President Donald Trump gave an additional three-week grace period for tariff negotiations after unveiling new tariff rates for 14 trading partners. European equity markets were trading mostly in green as investors weighed U.S. President Donald Trump's tariff plans and global growth risks.

The BSE Sensex is currently trading at 83505.11, up by 62.61 points or 0.08% after trading in a range of 83320.95 and 83564.03. There were 17 stocks advancing against 13 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index slumped 0.20%, while Small cap index was down by 0.32%.

The top gaining sectoral indices on the BSE were Realty up by 0.64%, Utilities up by 0.54%, Power up by 0.52%, Bankex up by 0.50% and PSU up by 0.21%, while Consumer Durables down by 1.80%, Healthcare down by 0.93%, Telecom down by 0.82%, Auto down by 0.60% and FMCG down by 0.36% were the losing indices on BSE.

The top gainers on the Sensex were Kotak Mahindra Bank up by 3.43%, Eternal up by 1.88%, NTPC up by 1.54%, Asian Paints up by 1.02% and Bharat Electronics up by 0.88%. On the flip side, Titan Company down by 5.79%, Trent down by 1.61%, Axis Bank down by 1.06%, Maruti Suzuki down by 0.98% and Sun Pharma Industries down by 0.78% were the top losers.

Meanwhile, offering relief to Indian exporters and fostering ongoing trade negotiations, the US has extended the suspension of reciprocal tariffs on India until August 1, 2025. This extension allows both nations additional time to resolve outstanding issues and potentially finalize an interim trade deal. India, which is negotiating a trade pact with the US, was not included in the list of countries that received tariff letters from the Trump administration. 

The Trump administration sent the first tranche of letters to various countries detailing the tariffs that the US will impose on products from those countries entering American markets from August 1. Bangladesh, Indonesia, Japan, South Korea, Malaysia, Thailand, South Africa, Bosnia and Herzegovina, Cambodia, Kazakhstan, Lao, Serbia and Tunisia are among the countries that received letters signed by US President Donald Trump.

Earlier, on April 2, the US President announced reciprocal tariffs against a number of countries, including India (26 per cent), but paused the implementation of these duties for 90 days, giving all trading partners a July 9 deadline to negotiate and reach a trade deal with Washington.

The CNX Nifty is currently trading at 25461.55, up by 0.25 points after trading in a range of 25424.15 and 25495.90. There were 24 stocks advancing against 26 stocks declining on the index.

The top gainers on Nifty were Kotak Mahindra Bank up by 3.27%, Eternal up by 1.84%, NTPC up by 1.69%, Grasim Industries up by 1.27% and Asian Paints up by 1.08%. On the flip side, Titan Company down by 5.84%, Dr. Reddy's Laboratories down by 2.14%, Bajaj Auto down by 1.85%, Cipla down by 1.66% and Trent down by 1.54% were the top losers.

Asian markets are trading mostly in green; Hang Seng advanced 260.24 points or 1.08% to 24,148.07, KOSPI increased 55.48 points or 1.78% to 3,114.95, Nikkei 225 surged 101.13 points or 0.25% to 39,688.81, Straits Times rose 16.82 points or 0.42% to 4,048.68 and Shanghai Composite strengthened 24.35 points or 0.7% to 3,497.48, while Jakarta Composite plunged 6.09 points or 0.09% to 6,894.84 and Taiwan Weighted lost 66.45 points or 0.3% to 22,362.27.

European markets were trading mostly in green; UK’s FTSE 100 increased 11.22 points or 0.13% to 8,817.75 and Germany’s DAX gained 31.21 points or 0.13% to 24,104.88, while France’s CAC fell 12.92 points or 0.17% to 7,710.55.