Indian markets trimmed some of their gains in early afternoon session but continued to trade in green with growing expectations that the US Federal Reserve may cut interest rates in December. Besides, traders were braced for Reserve Bank of India’s policy meeting next week. Investors took some support as International Monetary Fund (IMF) has said that India's economy is estimated to grow at 6.6 per cent in current financial year (FY26). It noted that the Goods and Services Tax reforms are likely to help cushion the country from the adverse impact of the 50 per cent tariffs imposed by the US. It highlighted ‘India's economy has continued to perform well. On the global front, Asian markets were trading mostly in green as Bank of Korea left its key interest rate unchanged as policymakers remained cautious about risks associated with household debt and the impact of heightened currency volatility. The Monetary Policy Board decided to maintain the Base Rate at 2.50 percent, as widely expected. 

The BSE Sensex is currently trading at 85791.69, up by 182.18 points or 0.21% after trading in a range of 85646.22 and 86055.86. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.22%, while Small cap index was down by 0.29%.

The top gaining sectoral indices on the BSE were Bankex up by 0.27%, Industrials up by 0.05% and IT was up by 0.05%, while Oil & Gas down by 0.90%, Realty down by 0.62%, Energy down by 0.61%, Consumer Discretionary down by 0.48% and PSU was down by 0.46% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 3.08%, Bajaj Finserv up by 1.10%, Hindustan Unilever up by 1.08%, Larsen & Toubro up by 1.01% and Kotak Mahindra Bank up by 0.95%. On the flip side, Eternal down by 1.45%, SBI down by 1.03%, Tata Steel down by 0.97%, Ultratech Cement down by 0.93% and Trent down by 0.93% were the top losers.

Meanwhile, commerce ministry has said that India and the UAE have discussed issues related to market access, data sharing, allocation of gold import quota, and anti-dumping matters, services, Rules of Origin, BIS licensing to boost economic ties. The India side also briefed the UAE on its recent decision to allocate Gold TRQ through a transparent competitive bidding process. 

The two sides also deliberated upon enhancing regulatory cooperation in pharmaceuticals, resolution of issues related to Certificates of Origin, and early signing of the MoU on Food Safety and Technical Requirements between Agricultural and Processed Food Products Export Development Authority (APEDA), India and Ministry of Climate Change and Environment, UAE. These issues were discussed during a meeting of the Joint Committee under the India-UAE CEPA (comprehensive economic partnership agreement). CEPA is a kind of free trade agreement (FTA). 

The bilateral trade has crossed $100 billion in 2024-25, which is an increase of 19.6 per cent over 2023-24. The two have fixed a target to increase non-oil and non-precious metal trade to $100 billion by 2030.

The CNX Nifty is currently trading at 26222.70, up by 17.40 points or 0.07% after trading in a range of 26208.90 and 26310.45. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Bajaj Finance up by 3.07%, Hindustan Unilever up by 1.11%, Shriram Finance up by 0.99%, Larsen & Toubro up by 0.99% and Kotak Mahindra Bank up by 0.95%. On the flip side, Eicher Motors down by 2.63%, ONGC down by 1.55%, Eternal down by 1.53%, Bajaj Auto down by 1.33% and Adani Enterprises down by 1.18% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 631.93 points or 1.26% to 50,191.00, Taiwan Weighted added 144.99 points or 0.53% to 27,554.53, KOSPI increased 26.04 points or 0.65% to 3,986.91, Straits Times rose 16.4 points or 0.36% to 4,517.96, Hang Seng advanced 14.92 points or 0.06% to 25,943.00 and Shanghai Composite was up by 11.08 points or 0.29% to 3,875.26. On the flip side, Jakarta Composite was down by 30.13 points or 0.35% to 8,572.00.