Indian equity benchmarks made a positive start on Tuesday, extending previous session’s gains, amid market enthusiasm regarding the upcoming Goods and Services Tax (GST) reforms. Sensex and Nifty are trading higher with marginal gains in early deals. Foreign fund inflows aided the domestic sentiments. Foreign institutional investors turned net buyers after 4 sessions, purchasing Indian equities worth Rs 551 crore on Monday. Some support also came as the government data showed that the rate of unemployment in the country declined to 5.2 per cent in July from 5.6 per cent in June. Traders took note of Commerce and Industry Piyush Goyal’s statement that the government is embarking on the next 100 Days Agenda of Transformation to take India on a fast track to developed nation.

On the global front, Asian markets are trading mostly lower, following the mixed cues from Wall Street overnight, as investors are monitoring the developments of the meeting, as any progress in talks could end the war and streamline global trade which is already affected by new US tariffs. US President Donald Trump planning a summit meeting between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy very soon.

The BSE Sensex is currently trading at 81368.29, up by 94.54 points or 0.12% after trading in a range of 81315.44 and 81512.36. There were 10 stocks advancing against 20 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index fell 0.18%, while Small cap index was up by 0.10%.

The top gaining sectoral indices on the BSE were Energy up by 0.64%, Telecom up by 0.47%, Oil & Gas up by 0.37%, TECK up by 0.32% and Auto up by 0.27%, while Realty down by 0.87%, PSU down by 0.26%, Consumer Durables down by 0.25%, Capital Goods down by 0.23% and Healthcare down by 0.16% were the top losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 2.10%, Bharti Airtel up by 1.65%, Adani Ports & SEZ up by 0.47%, Titan Co up by 0.30% and Kotak Mahindra Bank up by 0.29%. On the flip side, Bajaj Finance down by 1.17%, Bharat Electronics down by 1.16%, HCL Technologies down by 1.09%, Eternal down by 0.87% and Mahindra & Mahindra down by 0.83% were the top losers.

Meanwhile, Union Minister of Commerce and Industry Piyush Goyal has said that the government is embarking on the next 100 Days Agenda of Transformation to take India on a fast track to developed nation. He said in the next 100 days, the government will follow the clarion call given by Prime Minister Narendra Modi on August 15 to take India forward on a fast-tracked pathway, implement the vision of a developed nation by 2047, follow the ‘Panch Prans’ (Five Pledges) which have been articulated, and ensure that every citizen takes it upon themselves, as a sense of duty, to make India a prosperous and developed nation by 2047. 

He added that no power on earth can stop India from becoming a developed nation. He also referred to the global confidence in India’s economic growth, noting experts’ assessment that India is on course to emerge as the world’s most sought-after consumer market and a top investment destination. He said this progress is the result of the contribution of 140 crore Indians through programmes such as Make in India and Atmanirbhar Bharat, which are strengthening supply chains and building resilience. 

The Minister noted that India has concluded balanced, fair and equitable free trade agreements with the United Arab Emirates, Mauritius, the four nations of the EFTA group (Switzerland, Norway, Liechtenstein, Iceland) and the United Kingdom, and is making rapid progress with other engagements. He said these efforts are collectively ensuring success for MSMEs, farmers and the animal husbandry sector, while protecting the interests of India’s dairy industry and expanding access for Indian goods and services across global markets.

The CNX Nifty is currently trading at 24894.35, up by 17.40 points or 0.07% after trading in a range of 24873.95 and 24936.45. There were 17 stocks advancing against 33 stocks declining on the index.

The top gainers on Nifty were Reliance Industries up by 2.19%, Hero MotoCorp up by 2.11%, Bharti Airtel up by 1.70%, Bajaj Auto up by 1.51% and Eicher Motors up by 0.82%. On the flip side, Shriram Finance down by 1.68%, Bajaj Finance down by 1.18%, SBI Life Insurance down by 1.08%, Bharat Electronics down by 0.98% and Nestle down by 0.94% were the top losers.

Asian markets are trading mostly in red; Taiwan Weighted lost 116.3 points or 0.48% to 24,366.22, Nikkei 225 slipped 90.31 points or 0.21% to 43,624.00, KOSPI dropped 13.37 points or 0.42% to 3,163.91, Jakarta Composite fell 6.11 points or 0.08% to 7,892.27 and Hang Seng declined 1.85 points or 0.01% to 25,175.00. On the other hand, Straits Times rose 23.11 points or 0.55% to 4,210.49 and Shanghai Composite was up by 11.23 points or 0.3% to 3,739.26.