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Markets trade higher with marginal gains after negative start
Jul-08-2025

Indian equity benchmarks made flat-to-negative start on Tuesday following the broadly negative cues from Wall Street overnight, amid renewed uncertainty over U.S. President Donald Trump's tariff policies after he again extended the implementation of new reciprocal tariffs until at least August 1. Sensex and Nifty soon wiped out their losses and entered into green terrain tracking broadly positive cues from Asian counterparts amid reports that Japan is facing tariffs of 25 percent, much lower than up to 35 percent expected earlier. Markets are trading higher with marginal gains in early deals aided by buying in utilities, banking and power sector stocks. Traders took note of report that Prime Minister Narendra Modi met Bolivian President Luis Alberto Arce Catacora and discussed ways to bolster cooperation in areas such as critical minerals, trade and investment, healthcare and space, among others. In stock specific development, Kotak Mahindra Bank rallied as it announced its business updates for the June quarter (Q1 FY26). Its total deposits (average) rose 12.9% YoY and 5% QoQ to Rs 4,91,998 crore.

The BSE Sensex is currently trading at 83533.40, up by 90.90 points or 0.11% after trading in a range of 83320.95 and 83561.80. There were 16 stocks advancing against 13 stocks declining, while 1 stock remained unchanged on the index.

The broader indices were trading mixed; the BSE Mid cap index fell 0.06%, while Small cap index was up by 0.24%.

The top gaining sectoral indices on the BSE were Utilities up by 0.81%, Bankex up by 0.77%, Power up by 0.61%, PSU up by 0.47% and Oil & Gas up by 0.31%, while Consumer Durables down by 1.55%, Telecom down by 0.40%, Realty down by 0.37%, Healthcare down by 0.34% and Auto down by 0.24% were the top losing indices on BSE.

The top gainers on the Sensex were Kotak Mahindra Bank up by 3.90%, Eternal up by 1.84%, Bharat Electronics up by 1.11%, NTPC up by 0.78% and Asian Paints up by 0.47%. On the flip side, Titan Co down by 5.18%, Sun Pharma Inds. down by 0.68%, HCL Tech. down by 0.57%, Trent down by 0.52% and Mahindra & Mahindra down by 0.51% were the top losers.

Meanwhile, Finance Minister Nirmala Sitharaman has said BRICS is a vital platform for advancing inclusive multilateralism especially when global institutions are facing a crisis of legitimacy and representation. The BRICS is a group formed by eleven countries: Brasil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia, and Iran.

She said India has demonstrated resilience through a combination of strong domestic demand, prudent macroeconomic management, and targeted fiscal measures. She further emphasised that India's policy response to trade and financial restrictions has focused on diversifying markets, promoting infrastructure-led growth, and implementing structural reforms aimed at boosting competitiveness and productivity.

She underlined India's view that BRICS is a vital platform for advancing inclusive multilateralism, and especially when global institutions are facing a crisis of legitimacy and representation, BRICS must lead by example by reinforcing cooperation, advocating credible reforms, and amplifying the voice of the global South. 

She said ‘While South-South cooperation remains vital in advancing climate and development goals, the global South should not be expected to carry the main burden of climate action and BRICS countries are well placed to deepen cooperation on sustainable development’.

The CNX Nifty is currently trading at 25471.55, up by 10.25 points or 0.04% after trading in a range of 25424.15 and 25495.90. There were 26 stocks advancing against 24 stocks declining on the index.

The top gainers on Nifty were Kotak Mahindra Bank up by 3.69%, Eternal up by 1.90%, NTPC up by 0.99%, Bharat Electronics up by 0.97% and Indusind Bank up by 0.77%. On the flip side, Titan Company down by 5.34%, Dr. Reddy's Lab down by 1.70%, Cipla down by 1.18%, Sun Pharma down by 0.83% and HCL Technologies down by 0.68% were the top losers.

Asian markets are trading mostly in green; Hang Seng advanced 202 points or 0.84% to 24,089.83, Nikkei 225 surged 92.71 points or 0.23% to 39,680.39, KOSPI increased 39.20 points or 1.27% to 3,098.67, Shanghai Composite strengthened 20.03 points or 0.57% to 3,493.16 and Straits Times rose 16.29 points or 0.4% to 4,048.15. On the other hand, Taiwan Weighted lost 97.46 points or 0.44% to 22,331.26 and Jakarta Composite was down by 1.24 points or 0.02% to 6,899.69.
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