Domestic equity indices added more losses and were trading lower with cut of around half percent in late mooning deals, dragged down by heavy selling in IT shares and Hindustan Unilever. Concerns over artificial intelligence-led disruptions weighed on markets sentiment. Further, rising crude oil prices and weak cues from the US market overnight also weighed on the domestic sentiments. Oil prices rose amid concerns over escalating tensions between the US and Iran. Besides, traders remained on sidelines ahead of the release of the India’s consumer price inflation (CPI) data later in day. On the BSE sectoral front, traders were seen piling up positions Industrials, Metal and Bankex, while selling was witnessed in IT, TECK, Realty, Oil & Gas and Energy. 

On the global front, Asian markets were trading mostly in green with Japan’s Nikkei 225 hitting 58,000 for the first time in history, extending its post-election rally to fresh highs, fueled by renewed confidence in domestic politics and the ruling administration’s economic agenda. Back home, in the stock specific development, Kernex Microsystems surged on securing order worth Rs 411.17 crore.

The BSE Sensex is currently trading at 83798.57, down by 435.07 points or 0.52% after trading in a range of 83780.67 and 84061.62. There were 11 stocks advancing against 19 stocks declining on the index.

The few gaining sectoral indices on the BSE were Industrials up by 0.10%, Metal up by 0.10% and Bankex up by 0.05%, while IT down by 4.39%, TECK down by 2.93%, Realty down by 1.38%, Oil & Gas down by 0.92% and Energy down by 0.91% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 1.86%, SBI up by 1.56%, ICICI Bank up by 1.35%, Bharat Electronics up by 1.09% and Trent up by 1.08%. On the flip side, Infosys down by 4.46%, Tech Mahindra down by 4.30%, TCS down by 4.25%, Hindustan Unilever down by 3.55% and HCL Technologies down by 3.54% were the top losers. 

Meanwhile, in a meeting with representatives from 35 Export Promotion Councils (EPCs) and key industry associations, Commerce and Industry Minister Piyush Goyal has urged exporters and industry bodies to fully utilize the series of Free Trade Agreements (FTAs) signed with developed countries with an aim to maximise job creation and boost exports of goods and services. 

He emphasized that industry must now intensify its efforts to penetrate new markets, upgrade quality and become more competitive to take maximum advantage of trade agreements. He said the government had signed FTAs with developed countries, including the UK and EU, to help India's farmers, workers, professionals, artisans and MSMEs take advantage of the global market with preferential access. With these trade agreements, India's traditional medicines and yoga will also get global opportunities, while the interest of India's agriculture and dairy sectors have been protected.  

He said India has made its mark in international trade since the ancient era. He said ‘our trade deals will accelerate our Viksit Bharat mission and carry forward Prime Minister Narendra Modi’s mantra of Vikas bhi, Virasat bhi.’ He reaffirmed the government’s commitment to accelerate export growth, deepen global integration and leverage new trade agreements to position India as a trusted global supply partner.

The CNX Nifty is currently trading at 25833.50, down by 120.35 points or 0.46% after trading in a range of 25822.30 and 25906.70. There were 17 stocks advancing against 33 stocks declining on the index.

The top gainers on Nifty were Bajaj Finance up by 1.95%, Shriram Finance up by 1.83%, Eicher Motors up by 1.69%, SBI up by 1.31% and ICICI Bank up by 1.24%. On the flip side, Infosys down by 4.76%, Wipro down by 4.74%, TCS down by 4.50%, Tech Mahindra down by 4.46% and Hindustan Unilever down by 4.23% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 238.46 points or 0.41% to 57,889.00, Shanghai Composite strengthened 2.9 points or 0.07% to 4,134.89, KOSPI increased 150.50 points or 2.81% to 5,504.99 and Straits Times rose 25.33 points or 0.51% to 5,009.91. However, Jakarta Composite plunged 31.8 points or 0.39% to 8,259.17 and Hang Seng declined 226.38 points or 0.83% to 27,040.00.