Indian equity markets continued to trade higher in tight band during late afternoon deals. Investors have cheered the U.S. Supreme Court’s decision to strike down most of US President Donald Trump's global tariffs levied under the International Emergency Economic Powers Act, or IEEPA. The Court said that IEEPA does not authorize the president to impose tariffs. However, gains remained capped amid selling by foreign institutional investors (FIIs). FIIs were net seller on equities worth Rs 934.61 crore on Friday.

On the global front, Asian markets were trading higher tracking gains on Wall Street overnight on Friday. However, European markets were trading lower as traders remained cautious amid geopolitical tensions between US and Iran.

The BSE Sensex is currently trading at 83251.97, up by 437.26 points or 0.53% after trading in a range of 82906.83 and 83486.15. There were 19 stocks advancing against 12 stocks declining on the index.

The top gaining sectoral indices on the BSE were Auto up by 0.57%, Healthcare up by 0.52%, Power up by 0.46%, FMCG up by 0.40% and Utilities up by 0.39%, while IT down by 1.32%, TECK down by 0.60%, Metal down by 0.56%, Realty down by 0.43% and Basic Materials down by 0.35% were the top losing indices on BSE.

The top gainers on the Sensex were Adani Ports & SEZ up by 2.48%, Kotak Mahindra Bank up by 2.29%, Ultratech Cement up by 1.67%, Power Grid Corporation up by 1.35% and Axis Bank up by 1.15%. On the flip side, Infosys down by 1.71%, Tech Mahindra down by 1.13%, Kwality Walls (India) down by 1.08%, Bharat Electronics down by 0.74% and Trent down by 0.71% were the top losers.

Meanwhile, the commerce ministry has said that the India’s pharmaceutical exports continued to show steady growth in the 2024-25 fiscal year, surging 9.4 percent to $30.47 billion over the previous year. It said the industry is aiming for a double-digit growth in FY27. It noted that the sector, currently valued around $60 billion, is projected to reach $130 billion by 2030 with strong government support. 

According to the ministry, India currently ranks third globally in pharmaceutical production by volume, with medicines exported to over 200 markets, and more than 60 per cent of exports destined for stringent regulatory markets. The United States (US) accounts for 34 per cent of India's pharmaceutical exports, while Europe contributes 19 per cent. 

The ministry said issues pertaining to pharmaceuticals exports were discussed between the government officials and industry during Chintan Shivir in Ahmedabad. It noted that the interaction underlined the government's focus on enabling conditions for sustained export acceleration, with industry indicating readiness to target double-digit growth in 2026-27. It said engagement with the European Union was discussed in the context of a $572.3 billion pharmaceuticals and medical devices market, while a bilateral trade arrangement with the US can further improve market access and price competitiveness for Indian pharmaceutical companies. The ministry added that it will continue engagement with exporters, regulators and Indian Missions abroad to ensure timely identification and resolution of issues, thereby supporting sustained growth in pharmaceutical exports in global markets.

The CNX Nifty is currently trading at 25694.30, up by 123.05 points or 0.48% after trading in a range of 25609.35 and 25771.45. There were 31 stocks advancing against 20 stocks declining on the index.

The top gainers on Nifty were Adani Ports & SEZ up by 2.54%, Dr. Reddy's Laboratories up by 2.51%, Kotak Mahindra Bank up by 2.29%, HDFC Life Insurance up by 2.00% and SBI Life Insurance Company up by 1.73%. On the flip side, Hindalco down by 2.54%, Wipro down by 1.98%, Infosys down by 1.74%, ONGC down by 1.56% and Cipla down by 1.24% were the top losers.

Asian markets were trading higher; Taiwan Weighted jumped 167.55 points or 0.50% to 33,773.26, Hang Seng advanced 649.65 points or 2.4% to 27,063.00, Straits Times rose 14.52 points or 0.29% to 5,032.12, KOSPI increased 37.56 points or 0.64% to 5,846.09 and Jakarta Composite gained 103.23 points or 1.23% to 8,375.00. Meanwhile, Japanese and Chinese markets remained close on account of holiday.

European markets were trading lower; UK’s FTSE 100 decreased 2.59 points or 0.02% to 10,684.30, France’s CAC fell 3.59 points or 0.04% to 8,511.90 and Germany’s DAX lost 37.49 points or 0.15% to 25,223.20.