Indian markets remained in green during early afternoon session following some positive cues from other Asian markets. Sentiments were positive as soft U.S. inflation data boosted investors’ hopes for Federal Reserve rate cuts. Traders took support as India has signed the Comprehensive Economic Partnership Agreement (CEPA) with Oman. This free trade agreement will provide duty-free access to a host of Indian labour-intensive sectors, including engineering goods and textiles. On the global front, Asian markets were trading mostly in green even after Bank of Japan raised its benchmark rate by a quarter-point on Thursday as inflation remains stubbornly above the target. The policy board decided to hike the uncollateralized overnight call rate to ‘around 0.75 percent’ from ‘around 0.5 percent’. Previously, the BoJ had lifted the benchmark rate by 25 basis points in January.

The BSE Sensex is currently trading at 84907.24, up by 425.43 points or 0.50% after trading in a range of 84734.96 and 85067.50. There were 25 stocks advancing against 5 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.32%, while Small cap index was up by 0.41%.

The top gaining sectoral indices on the BSE were Auto up by 0.92%, Industrials up by 0.73%, Consumer Disc up by 0.68%, Telecom up by 0.67% and Energy was up by 0.60%, while Metal down by 0.43% and Basic Materials down by 0.16% was the only losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 1.47%, Bharat Electronics up by 1.45%, Asian Paints up by 1.39%, Tata MotorsPassenger up by 1.39% and Power Grid up by 1.32%. On the flip side, HCL Tech down by 1.45%, Bharti Airtel down by 0.19%, Tata Steel down by 0.15%, Kotak Mahindra Bank down by 0.07% and NTPC down by 0.05% were the top losers.

Meanwhile, The Gem and Jewellery Export Promotion Council (GJEPC) has said that the Comprehensive Economic Partnership Agreement (CEPA) signed between India and Oman is likely to propel India's gem and jewellery exports to Oman from $35 million in 2024 to an estimated $150 million over the next three years, driven by improved price competitiveness, expanded product offerings, and deeper industry collaboration.   

GJEPC said the India-Oman CEPA is a key enabler for strengthening direct trade ties and expanding India's gem and jewellery exports to Oman. It said India already holds the position of Oman's largest supplier of gold jewellery, particularly 22-carat wedding and traditional designs, with exports registering a robust growth of 80.11 per cent in 2024-25, underscoring deep trust in Indian craftsmanship.  

GJEPC chairman Kirit Bhansali said ‘Zero duty access will significantly improve competitiveness for Indian exporters and encourage direct sourcing. We see strong growth opportunities for polished diamonds and gold jewellery, along with emerging demand for silver, platinum and imitation jewellery.’ He added that with Oman's strategic location and stable business environment, the CEPA also positions the country as a potential gateway for Indian jewellery exports to the GCC, Africa and neighbouring regions.

The CNX Nifty is currently trading at 25951.55, up by 136.00 points or 0.53% after trading in a range of 25880.45 and 25979.25. There were 40 stocks advancing against 9 stocks declining on the index, while 1 stock remained unchanged. 

The top gainers on Nifty were Max Healthcare Inst up by 2.27%, Shriram Finance up by 2.07%, Bajaj Auto up by 1.54%, Bharat Electronics up by 1.49% and Reliance Industries up by 1.47%. On the flip side, HCL Tech down by 1.44%, Hindalco down by 0.65%, Dr. Reddy's Lab down by 0.60%, Adani Enterprises down by 0.46% and JSW Steel down by 0.26% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 591.5 points or 1.19% to 49,593.00, Hang Seng advanced 247.87 points or 0.97% to 25,746.00, Taiwan Weighted added 227.82 points or 0.82% to 27,696.35, KOSPI increased 26.04 points or 0.65% to 4,020.55, Shanghai Composite strengthened 14.08 points or 0.36% to 3,890.45 and Straits Times was up by 7.56 points or 0.17% to 4,578.17. On the flip side, Jakarta Composite was down by 49.53 points or 0.58% to 8,568.67.