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Bourses continue to trade in green in early afternoon session
Jul-30-2025

Indian markets continued to trade in green in early afternoon session even after delay in India and the U.S trade agreement. Traders overlooked the report that US President Donald Trump has said the trade deal with India is not finalised, as he stressed that India imposes more tariffs than almost any other country. However, investors took some support with International Monetary Fund’s statement that India is projected to grow at 6.4 per cent in fiscal year 2025 and 2026, and the country's stable growth is driven by a reform momentum supporting robust consumption growth and a push for public investment. Sector wise, tyre industry remained in limelight as Automotive Tyre Manufacturers' Association (ATMA) has said that the competitiveness of Indian tyre manufacturers in the British market will be strengthened as a result of the removal of import duties under the India-UK free trade agreement (FTA).  On the global front, Asian markets were trading mixed as Singapore central bank maintained its monetary policy after easing twice this year, as there are risks to growth from renewed trade conflicts and geopolitical shocks.

The BSE Sensex is currently trading at 81509.25, up by 171.30 points or 0.21% after trading in a range of 81187.06 and 81618.96. There were 20 stocks advancing against 10 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.10%, while Small cap index was up by 0.26%.

The top gaining sectoral indices on the BSE were Industrials up by 1.19%, Utilities up by 0.81%, Power up by 0.58%, Basic Materials up by 0.43% and PSU was up by 0.41%, while Auto down by 0.78%, Realty down by 0.45%, Consumer discretionary down by 0.20% and Telecom was down by 0.09% were the few losing indices on BSE.

The top gainers on the Sensex were Larsen & Toubro up by 4.40%, NTPC up by 1.78%, Axis Bank up by 1.32%, Sun Pharma up by 1.29% and Maruti Suzuki up by 1.17%. On the flip side, Tata Motors down by 3.24%, Hindustan Unilever down by 1.53%, Mahindra & Mahindra down by 1.04%, Bajaj Finance down by 0.73% and Bajaj Finserv down by 0.66% were the top losers.

Meanwhile, Automotive Tyre Manufacturers' Association (ATMA) has said that the competitiveness of Indian tyre manufacturers in the British market will be strengthened as a result of the removal of import duties under the India-UK free trade agreement (FTA). Welcoming the Comprehensive Economic and Trade Agreement (CETA) between India and the UK, it said the deal is a significant step forward in enhancing bilateral trade, particularly for the Indian tyre industry. 

ATMA said under the India-UK CETA, all customs duties on tyres and rubber products exported from India to the UK have been eliminated with immediate effect. This move is expected to provide a major fillip to Indian tyre exports to the UK - a key European market - by enhancing price competitiveness and improving market access.

The tyre industry body said India exported tyres worth Rs 732 crore to the UK in FY2024-25, registering a year-on-year growth of 11 per cent from Rs 660 crore in FY2023-24. This follows a 10 per cent growth in the previous fiscal, when exports stood at Rs 602 crore in FY2022-23. With the elimination of duties, the industry expects this upward trajectory to continue and accelerate in the coming years.

ATMA said the free trade agreement with the UK offers a cushion for the domestic industry through a staggered tariff liberalisation schedule. Imports of major categories of tyres from the UK into India have been placed in the E10 staging category, meaning that import duties on these products will be gradually reduced over a ten-year period. This phased approach balances export opportunities with a calibrated opening of the Indian market. It said the Indian tyre industry, which has already emerged as a significant exporter (exports over Rs 25,000 crore in FY2024-25) with strong manufacturing capabilities and R&D investment, stands to gain significantly under the CETA framework.

The CNX Nifty is currently trading at 24871.40, up by 50.30 points or 0.20% after trading in a range of 24771.95 and 24902.30. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were Larsen & Toubro up by 4.45%, Tata Consumer up by 1.85%, NTPC up by 1.78%, Axis Bank up by 1.51% and Grasim Industries up by 1.45%. On the flip side, Tata Motors down by 3.24%, Hero MotoCorp down by 2.16%, Hindustan Unilever down by 1.43%, Indusind Bank down by 1.24% and Mahindra & Mahindra down by 1.13% were the top losers.

Asian markets were trading mixed; Hang Seng declined 382.45 points or 1.5 to 25,142.00, Jakarta Composite plunged 61.32 points or 0.8 to 7,556.59, Nikkei 225 slipped 45.55 points or 0.11 to 40,629.00 and Straits Times was down by 25.44 points or 0.6 to 4,203.97. On the flip side, Shanghai Composite strengthened 6.01 points or 0.17 to 3,615.72, KOSPI increased 23.90 points or 0.73 to 3,254.47 and Taiwan Weighted was up by 260.2 points or 1.11 to 23,461.72.
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