In a volatile trading session, Indian markets traded flat with negative bias in early afternoon session amid weekly F&O expiry. Besides, geopolitical tensions remained high. Traders avoided to take position ahead of Federal Reserve's monetary policy announcement, due on March 18, 2026. Traders took note of commerce ministry’s latest data showing that India’s merchandise exports slipped marginally by 0.81 per cent to $36.61 billion in February 2026 as compared to $36.91 billion in the same month last year. Merchandise imports increased by 24.11 per cent to $63.71 billion in February 2026 from $51.33 billion recorded a year ago. Sector wise, sugar stocks remained in limelight as All India Sugar Trade Association has said that India exported 3.15 lakh tonne sugar during October-February in the current 2025-26 marketing year (October-September), with the UAE emerging as the top destination. On the global front, Asian markets were trading mostly in green following the broadly positive cues from Wall Street overnight. 

The BSE Sensex is currently trading at 75467.40, down by 35.45 points or 0.05% after trading in a range of 75324.73 and 76014.31. There were 15 stocks advancing against 15 stocks declining on the index.

The top gaining sectoral indices on the BSE were Metal up by 1.15%, Auto up by 0.90%, Basic Materials up by 0.69%, Consumer discretionary up by 0.58% and Telecom was up by 0.50%, while IT down by 1.05%, Oil & Gas down by 0.66%, PSU down by 0.57%, Utilities down by 0.54% and FMCG was down by 0.53% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 4.32%, Mahindra & Mahindra up by 2.10%, Tata Steel up by 1.76%, Bharti Airtel up by 1.32% and Tech Mahindra up by 0.80%. On the flip side, Bajaj Finance down by 1.98%, Power Grid down by 1.61%, Infosys down by 1.50%, SBI down by 1.49% and Adani Ports down by 1.41% were the top losers.

Meanwhile, Commerce Ministry said that India has signed terms of reference (ToR) with Philippines and Maldives to start negotiations. Under ToR, the country will start negotiations for a preferential trade agreement (PTA) with Philippines and a free trade agreement (FTA) with Maldives. During 2024-25, Indian exports to the Philippines increased 3.11% to $2.16 billion, while imports dipped 17.8% to $1.17 billion. In the same period, India's exports to the Maldives fell 37.11% to $56.88 million, while imports rose 37.14% to $118.82 million.

The Philippines is a part of the ASEAN bloc, with which India has a free trade agreement in goods in 2009. The ministry noted that the India and ASEAN bloc are reviewing the trade pact, as it is hurting Indian exports. Further, the AITIGA (Asean-India trade in goods agreement) Joint Committee has met for review 11 times so far and next meeting is scheduled for March 30 to 31, 2026. ASEAN countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

The ministry further said that India-Korea CEPA (Comprehensive Economic Partnership Agreement) is under review for upgradation of the pact. Further, the country has recently launched trade pact talks with the Gulf Cooperation Council (GCC) and Canada. Also, similar negotiations are going on with Australia, Sri Lanka, Peru, Chile, EAEU, and Israel. Last year, the country has signed FTAs with the UK and Oman, which are likely to be implemented this year. Meanwhile, negotiations for trade pacts with the EU and New Zealand have been announced completed.

The CNX Nifty is currently trading at 23385.20, down by 23.60 points or 0.10% after trading in a range of 23346.60 and 23577.55. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were Eternal up by 4.28%, Mahindra & Mahindra up by 2.05%, Tata Steel up by 1.90%, Bharti Airtel up by 1.32% and HDFC Life Insurance up by 1.18%. On the flip side, Wipro down by 2.59%, Bajaj Finance down by 1.94%, Cipla down by 1.78%, Power Grid down by 1.78% and Adani Enterprises down by 1.64% were the top losers.

Asian markets were trading mostly in green; Taiwan Weighted added 494.06 points or 1.46% to 33,836.57, KOSPI increased 90.63 points or 1.61% to 5,640.48, Jakarta Composite gained 71.53 points or 1.02% to 7,093.82, Straits Times rose 53.65 points or 1.1% to 4,922.34 and Hang Seng was up by 44.98 points or 0.17% to 25,879.00. On the flip side, Shanghai Composite weakened 34.88 points or 0.86% to 4,049.91 and Nikkei 225 was down by 136.15 points or 0.25% to 53,615.00.