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Markets trim some gains in early noon deals
Jun-17-2026

Indian equity markets trimmed some of their gains in early afternoon session, as investors sought more clarity on the U.S.-Iran interim peace deal and awaited the U.S. Federal Reserve's interest-rate decision later in the day. However, indices managed to keep their heads above neutral lines, on the back of positive cues from other Asian markets along with heavy buying at Capital Goods and Consumer Durables counters. Some support came with the Reserve Bank of India’s (RBI) latest data stating that sales of more than 1,800 listed private manufacturing companies expanded by 14.5 per cent in the fourth quarter of 2025-26 (Q4FY26) as compared to 11.4 per cent in the previous quarter, mainly led by automobiles, electrical machinery and non-ferrous metals industries. 

On the global front, Asian markets were trading mostly in green, after the value of core machinery orders in Japan was up a seasonally adjusted 8.7 percent on month in April, coming in at 1,098.5 billion yen. That exceeded expectations for an increase of 1.2 percent following the 9.4 percent drop in March. Back home, defence stocks were in watch, after Ministry of Defence in its latest report has showed that India’s defence sector has achieved a historic milestone, with annual production touching an all-time high of Rs 1.78 lakh crore in the Financial Year 2025-26 (FY26), registering a 15.6% growth over Rs 1.54 lakh crore in FY 2024-25.

The BSE Sensex is currently trading at 76998.76, up by 190.28 points or 0.25% after trading in a range of 76768.49 and 77218.99. There were 18 stocks advancing against 12 stocks declining on the index.

The top gaining sectoral indices on the BSE were Capital Goods up by 1.56%, Consumer Durables up by 1.38%, Industrials up by 1.13%, Metal up by 0.74% and PSU up by 0.62%, while Realty down by 0.69%, Utilities down by 0.43%, FMCG down by 0.28%, Auto down by 0.27% and Healthcare down by 0.16% were the top losing indices on BSE.

The top gainers on the Sensex were Trent up by 5.01%, Eternal up by 2.31%, Bharat Electronics up by 1.63%, Tech Mahindra up by 1.60% and Tata Steel up by 1.25%. On the flip side, Bajaj Finserv down by 1.48%, Kotak Mahindra Bank down by 0.77%, Axis Bank down by 0.73%, Maruti Suzuki down by 0.50% and NTPC down by 0.49% were the top losers.

Meanwhile, aiming to insulate bilateral trade from dollar volatility and lower the transaction costs, India and Sri Lanka have discussed ways to enhance trade settlement in local currencies. The discussions were taken place on event -- 'Rupee to Rupee: Strengthening the India-Sri Lanka Commercial Corridor'. The event, organised by the Indian High Commission in Colombo, brought together representatives from government institutions, banking and financial sector organisations, industry leaders, importers, exporters, and business stakeholders from both countries. The participants discussed opportunities to deepen India-Sri Lanka economic and commercial engagement through enhanced use of local currencies.

Highlighting benefits of local currencies settlement, the Indian High Commissioner, Santosh Jha has said that local currency settlement reduces transaction costs, eliminates conversion losses in both directions. He added that for Sri Lanka specifically, it reduces pressure on scarce hard currency reserves - preserving dollars for uses where they are truly necessary, while rupee-to-rupee trade flows freely between two economies. The discussions highlighted the growing acceptance of the INR-LKR settlement mechanism and its potential to facilitate smoother cross-border transactions, improve liquidity management, lower transaction costs, and enhance resilience in bilateral trade.

Moreover, the discussion emphasised the need for continued awareness-building, stronger banking linkages, and greater private sector participation to unlock the full potential of local currency settlements. Jha has suggested that an Indian bank's branch in Colombo can now lend in Indian rupees to a Sri Lankan importer buying Indian goods, while a Sri Lankan bank can borrow in INR to finance trade with India, without touching the dollar at all. He called it a structural shift in how regional trade finance can work.

The CNX Nifty is currently trading at 24035.85, up by 46.70 points or 0.19% after trading in a range of 23969.70 and 24108.20. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Trent up by 4.94%, Eternal up by 2.19%, Bharat Electronics up by 1.63%, Tech Mahindra up by 1.54% and Tata Steel up by 1.38%. On the flip side, Tata Motors Passenger down by 2.15%, Cipla down by 2.05%, Bajaj Finserv down by 1.60%, ONGC down by 1.07% and Eicher Motors down by 1.05% were the top losers.

Asian markets were trading mostly in green; KOSPI increased 137.64 points or 1.55% to 8,864.24, Taiwan Weighted added 68.2 points or 0.15% to 45,877.39, Nikkei 225 surged 590.5 points or 0.84% to 69,995.00, Straits Times rose 63.66 points or 1.24% to 5,180.52 and Shanghai Composite strengthened 16.19 points or 0.4% to 4,108.08, while Hang Seng declined 187.95 points or 0.77% to 24,306.00 and Jakarta Composite plunged 24.87 points or 0.4% to 6,230.10.
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