Indian equity benchmarks made slightly positive start on Monday with focus on earnings and trade developments. Soon markets turned volatile, but managed to keep their head above water in early delas. Some optimism came as the commerce ministry data showed that the US, UAE, and China have emerged as the top three export destinations for India's electronics sector during April-June quarter of 2025-26. During April-June this fiscal, the exports rose by 47 per cent to $12.41 billion. Some support also came as Union Commerce and Industry Minister Piyush Goyal said that India remains a key destination for overseas investments and is likely to attract $100 billion in foreign direct investments (FDIs) from the four-nation European bloc European Free Trade Association (EFTA). Besides, market participants are looking ahead to the release of India's infrastructure output data for June to be out later in the day.

On the global front, Asian markets are trading mostly in green with marginally gains as China held key lending rates and focus shifted to key trade and economic developments ahead of Trump's August 1 tariff deadline, with the European Union reportedly preparing for possible retaliatory measures against U.S. tariffs as trade tensions escalate. Besides, Japan's ruling coalition lost control of the upper house in an election on Sunday, further weakening Prime Minister Shigeru Ishiba's grip on power. Meanwhile, Japan's stock remains closed.

The BSE Sensex is currently trading at 81940.74, up by 183.01 points or 0.22% after trading in a range of 81518.66 and 81971.15. There were 9 stocks advancing against 20 stocks declining, while 1 stock remain unchanged on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.13%, while Small cap index was down by 0.18%.

The top gaining sectoral indices on the BSE were Bankex up by 0.74%, Basic Materials up by 0.61%, Metal up by 0.56%, Capital Goods up by 0.25% and Industrials up by 0.09%, while Energy down by 0.99%, Oil & Gas down by 0.74%, IT down by 0.66%, TECK down by 0.41%, Healthcare down by 0.40% were the top losing indices on BSE.

The top gainers on the Sensex were ICICI Bank up by 2.24%, HDFC Bank up by 2.05%, Ultratech Cement up by 1.49%, Eternal up by 0.80% and Tata Steel up by 0.62%. On the flip side, Reliance Industries down by 2.06%, HCL Technologies down by 1.19%, Axis Bank down by 1.09%, Tech Mahindra down by 0.98% and Tata Motors down by 0.84% were the top losers.

Meanwhile, Union Commerce and Industry Minister Piyush Goyal has said that India remains a key destination for overseas investments and is likely to attract $100 billion in foreign direct investments (FDIs) from the four-nation European bloc EFTA. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Goyal also emphasised the need to stay competitive. Earlier, he said the free trade agreement between India and the EFTA will be implemented from October 1. The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024.

He said ‘My calculation, or my gut sense, is that $100 billion FDI, along with Indian promoter equity, when they come into your companies, it will catalyse to at least $500 billion investment in India into brownfield or greenfield’. He said the FDI commitment would also create a million direct jobs in the coming years, and help technology and innovation through Swiss SMEs entering Indian markets.

Citing a game-changing initiative, he said that the Cabinet has sanctioned Rs 1 lakh crore towards an innovation fund to drive R&D in the country. He noted ‘It can be given out to all of you or any company willing to do it in research and development in the form of a grant, in the form of a low-cost loan, interest-free loan, or term loan’. Recognising the key role of MSMEs, he stressed the need for enabling these enterprises with access to global markets, modern technology, and affordable capital. With 2.4 million STEM graduates annually, including 43 per cent women, India is well-positioned to scale up its manufacturing and innovation capabilities.

On the social security pact with the UK, he said India has successfully negotiated a social security agreement with the UK, enabling Indian professionals on short-term UK work visas (up to 3 years) to contribute to their Indian EPF accounts rather than losing 25 per cent of their overseas earnings in UK social security contributions. On the government's Bharat Mart initiative, he said there are plans to replicate a similar model for Indian MSMEs, particularly leveraging Mumbai's strategic and financial advantage, with government support and incentives promised.

The CNX Nifty is currently trading at 25,036.70, up by 68.30 points or 0.27% after trading in a range of 24,882.30 and 25,049.10. There were 17 stocks advancing against 33 stocks declining on the index.

The top gainers on Nifty were ICICI Bank up by 2.39%, HDFC Bank up by 2.24%, Ultratech Cement up by 1.62%, Eternal up by 1.09% and Tata Steel up by 0.94%. On the flip side, Indusind Bank down by 3.27%, Wipro down by 2.25%, Reliance Industries down by 1.77%, HCL Technologies down by 0.96% and Axis Bank down by 0.95% were the top losers.

Asian markets are trading mostly in green; Hang Seng rose 67.62 points or 0.27% to 24,893.28, Jakarta Composite gained 61.04 points or 0.83% to 7,372.96, KOSPI increased 18.12 points or 0.57% to 3,206.19, Straits Times strengthened 16.4 points or 0.39% to 4,205.90 and Shanghai Composite added 15.41 points or 0.43% to 3,549.89, while Taiwan Weighted lost 94.23 points or 0.4% to 23,288.90.