Indian equity benchmarks continued to trade lower in morning deals, amid non-stop foreign fund outflows and tariff-related jitters. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,997.19 crore on Thursday, according to exchange data. Some concern also came as think tank GTRI said the imposition of a 50 per cent US tariff on Indian goods will impact exports of nine product categories, including shrimp, organic chemicals, apparel, and jewellery by 50-70 per cent. Some pessimism also came as a report by Moody’s Ratings stated that India's self-reliance ambitions under the Atmanirbhar Bharat mission may face serious challenges after US President Donald Trump signed an executive order imposing an additional 25% penalty tariff on Indian imports. The decision, linked to India’s continued purchase of discounted Russian crude, could erode the country’s manufacturing competitiveness. On the global front, Asian markets are trading mixed as uncertainty continues over US reciprocal tariffs despite the tariff's kicking in on Thursday. Market uncertainty is created by the pressure tactics exerted by the US by constantly altering tariffs. 

The BSE Sensex is currently trading at 80194.58, down by 428.68 points or 0.53% after trading in a range of 80102.99 and 80550.40. There were 7 stocks advancing against 23 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.64%, while Small cap index was down by 0.13%.

The few gaining sectoral indices on the BSE were Oil & Gas up by 0.11% and Energy up by 0.02%, while Telecom down by 1.46%, TECK down by 1.41%, Metal down by 0.92%, IT down by 0.85% and Realty down by 0.80% were the top losing indices on BSE.

The top gainers on the Sensex were Titan Company up by 1.58%, NTPC up by 0.65%, Bajaj Finance up by 0.36%, ITC up by 0.33% and Maruti Suzuki up by 0.08%. On the flip side, Bharti Airtel down by 2.95%, Axis Bank down by 1.27%, Infosys down by 1.18%, Adani Ports &Special down by 1.13% and HCL Tech. down by 0.91% were the top losers.

Meanwhile, The India Cellular and Electronics Association (ICEA) in its latest data has said that India's electronics exports surged over 47 per cent year-on-year to $12.4 billion in the first quarter of fiscal year 2025-26 (Q1FY26), driven by a robust performance in the mobile phone segment. The country's electronics exports stood at $8.43 billion in the April-June period last financial year (Q1FY25).

Mobile phones were the standout performer, with exports growing by 55 per cent from $4.9 billion in Q1 FY25 to an estimated $7.6 billion in Q1 FY26. The non-mobile electronics segment rose 37 per cent to $4.8 billion from $3.53 billion in the corresponding period a year ago. Key products in the non-mobile electronics category include solar modules, switching and routing apparatus, charger adapters and parts, and other components.

ICEA Chairman Pankaj Mohindroo said ‘This is a strategic national achievement. Now begins the real climb towards global competitiveness, sustainability, and deeper value addition. Other product segments in electronics have also shown significant growth, such as solar modules, networking equipment, chargers, and components are gaining traction. We must now accelerate their expansion. We need IT hardware, wearables, hearables, and consumer electronics exports to rise sharply.’

Mohindroo added It is more important than ever to build an indigenous supply chain. We need globally competitive Indian brands and Indian champions across the entire value chain from components and sub-assemblies to final products. This is the path to long-term sovereignty in electronics.

Total electronics exports increased from $29.1 billion in FY24 to $38.6 billion in FY25. With the current momentum, ICEA projects that electronics exports for the full fiscal year 2026 are expected to be in the range of $46-50 billion. Over the past decade, total electronics production in India has grown from $31 billion in FY15 to $133 billion in FY25.

The CNX Nifty is currently trading at 24467.60, down by 128.55 points or 0.52% after trading in a range of 24437.55 and 24585.50. There were 10 stocks advancing against 40 stocks declining on the index.

The top gainers on Nifty were Titan Company up by 1.55%, NTPC up by 0.70%, Bajaj Finance up by 0.38%, HDFC Life Insurance up by 0.34% and ITC up by 0.31%. On the flip side, Bharti Airtel down by 2.88%, Adani Enterprises down by 2.08%, Shriram Finance down by 1.77%, Indusind Bank down by 1.59% and Grasim Industries down by 1.48% were the top losers.

Asian markets are trading mixed; Nikkei 225 surged 818.85 points or 1.99 to 41,878.00, Taiwan Weighted added 61.04 points or 0.25 to 24,064.81, Shanghai Composite strengthened 3.13 points or 0.09 to 3,642.80 and Jakarta Composite gained 58.54 points or 0.78 to 7,548.72.

On the flip side, KOSPI dropped 21.21 points or 0.66 to 3,206.47, Hang Seng declined 255.63 points or 1.02 to 24,826.00 and Straits Times fell 22.07 points or 0.52 to 4,236.08.