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Indices remain in green in late morning deals
Jul-02-2026

Indian equity indices trimmed some of their gains but continued to trade in green in late morning deals on account of buying in Infosys, HCL Technologies, TCS, Tech Mahindra and Bajaj Finserv. Falling crude oil prices supported domestic sentiments. Crude oil prices fell after U.S. President Donald Trump stated that negotiations with Iran in Qatar were going well. Trump said the denuclearization of Iran is moving along well. There was some encouragement in markets as Reserve Bank of India Governor Sanjay Malhotra said India is unlikely to raise its official inflation target and there may be a case for lowering it over the long term.

On the global front, Asian markets were trading mixed following mixed cues from the US markets overnight. Back home, on the BSE sectoral front, traders were seen piling up positions in IT, TECK, Basic Materials, Metal and Oil & Gas, while selling was witnessed in Telecom, Capital Goods, Power and Industrials.

The BSE Sensex is currently trading at 77173.33, up by 250.69 points or 0.33% after trading in a range of 77063.95 and 77449.25. There were 19 stocks advancing against 11 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 4.05%, TECK up by 2.06%, Basic Materials up by 0.80%, Metal up by 0.67% and Oil & Gas up by 0.56%, while Telecom down by 1.14%, Capital Goods down by 0.58%, Power down by 0.48% and Industrials down by 0.37% were the top losing indices on BSE.

The top gainers on the Sensex were Infosys up by 5.35%, HCL Technologies up by 4.39%, TCS up by 3.48%, Tech Mahindra up by 2.88% and Bajaj Finserv up by 1.89%. On the flip side, Larsen & Toubro down by 1.53%, Bharti Airtel down by 0.78%, Maruti Suzuki India down by 0.75%, Kotak Mahindra Bank down by 0.64% and Bharat Electronics down by 0.59% were the top losers.

Meanwhile, a domestic rating agency Crisil in its latest report has said that the assets under management (AUM) of the microfinance institutions (MFIs) are likely to grow 20 per cent in fiscal year 2026-27 (FY27), a sharp acceleration from 4 per cent growth recorded last fiscal. It said the microfinance portfolio is expected to grow 13 per cent, reflecting a gradual recovery after last fiscal’s slowdown. It noted that the growth will primarily be driven by non-microfinance portfolios such as gold loans, lending to micro, small and medium enterprises (MSMEs), loans against property and individual loans.    

According to the report, the non-MFI loans AUM, as a part of the overall pie, shot up to 14 per cent in FY26 as MFIs resorted to such segments. It said the segment is expected to rise further to 18 per cent by the end of FY27, with lenders increasingly focusing on secured loan products. It said the core MFI segment is exposed to idiosyncratic risks ranging from localised sociopolitical disruptions to weather-related income shocks, which can drive sharp volatility in borrower repayment behaviour and credit costs. This susceptibility underscores the strategic imperative for microfinanciers to diversify into asset classes beyond microfinance to enhance portfolio resilience and earnings stability.  

The agency also observed that MFI lending remained subdued until the third quarter of FY26 due to asset-quality concerns and restricted funding access. However, it said lending activity began recovering in the Q4FY26. It can be recalled that MFIs were forced to adopt a slew of guardrails on maintaining their balance sheet health due to high NPAs traced back to factors including over-leverage among borrowers.      

The CNX Nifty is currently trading at 24087.30, up by 81.45 points or 0.34% after trading in a range of 24058.80 and 24159.45. There were 33 stocks advancing against 17 stocks declining on the index.

The top gainers on Nifty were Infosys up by 5.33%, HCL Technologies up by 4.35%, TCS up by 3.44%, Tech Mahindra up by 2.89% and Wipro up by 2.18%. On the flip side, Larsen & Toubro down by 1.47%, SBI Life Insurance down by 1.02%, Bharti Airtel down by 0.81%, Max Healthcare down by 0.75% and Kotak Mahindra Bank down by 0.70% were the top losers.

Asian markets were trading mixed; Nikkei 225 slipped 1225.96 points or 1.77% to 69,249.00, Taiwan Weighted lost 150.73 points or 0.32% to 46,868.26, Shanghai Composite weakened 66.13 points or 1.63% to 4,046.32 and KOSPI dropped 530.44 points or 6.82% to 7,772.97. However, Jakarta Composite gained 97.05 points or 1.68% to 5,792.17, Hang Seng advanced 114.98 points or 0.5% to 22,996.00 and Straits Times rose 31.13 points or 0.6% to 5,192.63.
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