Indian equity markets wiped out all losses to trade in positive territory during late afternoon session as Brent crude prices retreated to trade below the $110 per barrel mark. Some support also came after reports indicated that the government is considering a Rs 2.5 lakh crore credit guarantee scheme to support businesses, especially MSMEs impacted by the West Asia crisis. Despite the positive cues, gains remained capped as persistent foreign capital outflow and uncertainties over easing of tensions in the West Asia have weighed on markets’ risk sentiment. The foreign institutional investors were the net sellers on Monday’s trade, offloading securities worth Rs 8,167.17 crore.

On the global front, Asian equity markets were trading mixed as traders kept close eye on development relating to West Asia conflict ahead of US president Donald Trump’s deadline to Iran. European equity markets were trading higher, tracking gains on Wall Street overnight. 

The BSE Sensex is currently trading at 74304.74, up by 197.89 points or 0.27% after trading in a range of 73282.41 and 74405.23. There were 17 stocks advancing against 13 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 2.09%, TECK up by 1.91%, Realty up by 1.69%, Metal up by 1.14% and Basic Materials up by 0.55%, while Bankex down by 0.24%, Consumer Durables down by 0.22%, Consumer Discretionary down by 0.11% and PSU down by 0.02% were the few losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 2.92%, TCS up by 2.57%, Infosys up by 1.92%, Bharti Airtel up by 1.82% and Tech Mahindra up by 1.67%. On the flip side, Interglobe Aviation down by 1.24%, SBI down by 0.76%, Adani Ports & SEZ down by 0.67%, Reliance Industries down by 0.66% and Eternal down by 0.56% were the top losers.

Meanwhile, ministry of textiles in its latest study report on domestic demand of textiles ‘Market for Textiles and Clothing: National Household Survey 2024’ has showed that India’s textile market has expanded over the last 15 years, growing from Rs 4.89 lakh crore in 2010 to Rs 14.95 lakh crore in 2024 at a compound annual growth rate (CAGR) of 8.3%. Out of this total market size, the household segment has emerged as a major growth engine, with its contribution rising from Rs 4.18 lakh crore in 2010 to Rs 8.77 lakh crore in 2024, significantly boosting overall domestic demand.

The study, conducted by the Textiles Committee under the Ministry, estimates the domestic demand in the Textiles and Clothing (T&C) sector and serves as an important reference for trade and industry stakeholders in addition to the policy makers to develop desired strategy for the growth of the sector. As per the study report, the per capita demand increased from Rs 2,119 in 2010 to Rs 6,066 in 2024 experiencing a CAGR growth of 7.8%, reflecting a strong growth trajectory. The estimates show a robust growth in per capita demand in textiles by the individuals during the same period.

Further, it showed that Man Made Fibre (MMF) & blended fiber based products are contributing 52.2%, followed by 41.2% by cotton based products. On the other hand, Silk and Woollen fiber based products are contributing 5.2% and 1.3% respectively to the product basket. In absolute terms, the demand for MMF & blended textiles recorded most significant growth, with demand increasing from Rs 1.47 lakh crore to Rs 4.47 lakh crore, with a CAGR of 8.28%. Cotton maintained its position as the second most important fiber, with aggregate demand increasing from Rs 0.87 lakh crore to Rs 3.53 lakh crore with a CAGR of 10.53%.The demand for Silk and Wool based products increased at CAGR of 8.93% and 7.02% respectively during same period.

The CNX Nifty is currently trading at 23034.20, up by 65.95 points or 0.29% after trading in a range of 22719.30 and 23063.55. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Wipro up by 3.37%, HCL Technologies up by 2.84%, Hindalco up by 2.80%, TCS up by 2.47% and Infosys up by 1.83%. On the flip side, Dr. Reddy's Laboratories down by 2.82%, Adani Enterprises down by 1.42%, Interglobe Aviation down by 1.38%, SBI down by 0.79% and Adani Ports & SEZ down by 0.74% were the top losers.

Asian equity markets were trading mixed; Nikkei 225 surged 138.32 points or 0.26% to 53,552.00, Taiwan Weighted added 657.39 points or 1.98% to 33,229.82, KOSPI increased 44.45 points or 0.81% to 5,494.78, Shanghai Composite strengthened 10.06 points or 0.26% to 3,890.16, while Straits Times fell 10.63 points or 0.21% to 4,961.77 and Jakarta Composite plunged 22.36 points or 0.32% to 6,967.07. Meanwhile, Hong Kong market remained close on account of holiday.

European equity markets were trading higher; UK’s FTSE 100 increased 33.48 points or 0.32% to 10,469.77, France’s CAC rose 98.51 points or 1.24% to 8,060.90 and Germany’s DAX gained 193.62 points or 0.84% to 23,361.70.