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Markets add gains after flat opening on value buying
Oct-07-2025

Indian markets made a flat-to-positive start on Tuesday and soon gained traction to trade firm in early deals on account of value buying. Some optimism came as Commerce and Industry Minister Piyush Goyal said that India and Qatar will soon finalise the contours to negotiate a free trade agreement and the pact is expected to be concluded by the middle or third quarter of next year. The Minister separately said India is negotiating free trade agreements (FTAs) with several countries, including Oman, Chile, Peru, the US, and the European Union.

On the global front, Asian markets were trading higher, following the mixed cues from Wall Street overnight, with mainland China, Hong Kong and South Korean markets closing for holidays. Traders have reinforced bets on an additional rate cut by the U.S. Fed this October amid the ongoing government shutdown in the U.S.

The BSE Sensex is currently trading at 82092.09, up by 301.97 points or 0.37% after trading in a range of 81787.48 and 82098.95. There were 21 stocks advancing against 9 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.45%, while Small cap index was up by 0.20%.

The top gaining sectoral indices on the BSE were Energy up by 0.73%, Oil & Gas up by 0.70%, Utilities up by 0.60%, Metal up by 0.58% and Power up by 0.52%, while Healthcare down by 0.09% and IT down by 0.04% were the only losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 1.50%, Eternal up by 1.33%, ICICI Bank up by 1.12%, Tata Steel up by 1.09% and Power Grid up by 0.84%. On the flip side, Trent down by 1.98%, Axis Bank down by 1.11%, TCS down by 0.57%, Infosys down by 0.42% and SBI down by 0.27% were the top losers.

Meanwhile, Commerce and Industry Minister Piyush Goyal has said that India and Qatar will soon finalise the contours to negotiate a free trade agreement (FTA) and the pact is expected to be concluded by the middle or third quarter of next year. He said ‘I would think that sometime by the middle of next year, or third quarter of next year, we will be able to finalise an FTA, if not earlier’. Qatar is an important trading partner of India in the Gulf Cooperation Council (GCC) with bilateral trade of over $14.15 billion in 2024-25. GCC members are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). India already has a trade pact with the UAE. A similar deal is likely to be signed with Oman soon.

Goyal said that he held discussions with Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry of Qatar on trade related issues. He said ‘We have discussed that we should quickly launch FTA negotiations. We are discussing the contours of terms of reference and once we finalise that, the Qatar Minister and I have discussed that we will fast-track it so that trade and business can double by 2030 from $14 billion currently to $30 billion’. In a free trade pact, two countries either significantly reduce or eliminate import duties on maximum goods traded between them. They also ease norms to promote trade in services and attract investments.

The trade relationship with Qatar remains heavily skewed toward energy imports, with petroleum crude and gas products making up nearly 90 per cent of India's total imports from Qatar. India's exports to Qatar totalled $1.68 billion, while imports surged to $12.46 billion, producing a substantial trade deficit of $10.78 billion in the last fiscal. Key energy components imported by India from Qatar include liquefied natural gas, liquefied butanes, liquefied propane, petroleum crude, and other petroleum products. The other imports from the Middle East nation include fertilisers, organic chemicals, plastic raw materials, aluminium and aluminium products, dye intermediates, and inorganic chemicals.

India's exports of $1.68 billion to Qatar reflected mixed trends across sectors, with industrial products, food items, and machinery dominating the basket. In 2024-25, it included products of iron and steel, rice, gold and precious metal jewellery, processed minerals, motor vehicles/cars, petroleum products, electrical machinery, electronics, buffalo meat, and sugar. India received $1.53 billion in foreign direct investment from Qatar from April 2000 to June 2025.

The CNX Nifty is currently trading at 25161.05, up by 83.40 points or 0.33% after trading in a range of 25076.30 and 25166.85. There were 34 stocks advancing against 16 stocks declining on the index.

The top gainers on Nifty were Coal India up by 1.37%, Eternal up by 1.34%, Bajaj Finance up by 1.32%, Adani Enterprises up by 1.23% and ICICI Bank up by 1.11%. On the flip side, Trent down by 2.08%, Interglobe Aviation down by 1.29%, Axis Bank down by 1.07%, TCS down by 0.72% and Infosys down by 0.64% were the top losers.

Asian markets are trading in green; Taiwan Weighted jumped 518.26 points or 1.94% to 27,279.32, Nikkei 225 surged 356.24 points or 0.74% to 48,301.00, Jakarta Composite gained 47.52 points or 0.58% to 8,187.41 and Straits Times rose 41.42 points or 0.94% to 4,463.13.
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