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Sensex, Nifty trade higher with modest gains in early deals
Jul-16-2026

Indian markets made positive start on Thursday, tracking selective buying in IT stocks even as global cues remained mixed amid rising geopolitical tensions in West Asia. Sensex and Nifty were trading higher with modest gains in early deals led by buying in IT, Consumer Durables and Oil & Gas stocks. Some optimism came as Commerce Secretary Rajesh Agrawal said that India has exported goods worth $140 million to the UK at zero duty under the comprehensive economic and trade agreement (CETA), which became operational on July 15. However, upside remained capped amid higher crude prices for a fourth consecutive session as renewed hostilities between the United States and Iran heightened concerns over potential supply disruptions through the Strait of Hormuz.

On the global front, Asian markets were trading mixed as investors assessed persistent geopolitical tensions in the Middle East alongside expectations of fresh US economic data that could shape the Federal Reserve's interest rate outlook. Also, there was weakness in global chip stocks ahead of earnings from Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest contract chipmaker. 

The BSE Sensex is currently trading at 77411.00, up by 225.57 points or 0.29% after trading in a range of 77276.52 and 77514.30. There were 19 stocks advancing against 10 stocks declining, while 1 stock remain unchanged on the index.

The top gaining sectoral indices on the BSE were IT up by 1.02%, Consumer Durables up by 0.95%, Oil & Gas up by 0.92%, TECK up by 0.89% and Energy up by 0.70%, while Realty down by 0.77%, Capital Goods down by 0.44%, Power down by 0.33%, Industrials down by 0.33% and Healthcare down by 0.07% were the top losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 2.24%, Mahindra & Mahindra up by 1.60%, Maruti Suzuki India up by 1.45%, Tech Mahindra up by 1.44% and Bajaj Finance up by 1.10%. On the flip side, Bajaj Finserv down by 0.49%, Eternal down by 0.49%, Axis Bank down by 0.49%, HDFC Bank down by 0.29% and Bharat Electronics down by 0.24% were the top losers.

Meanwhile, pitching for attention to the development of the corporate debt market, domestic rating agency Crisil has warned that the current state of the financial is most likely to create a 'funding gap' in the medium term, potentially obstructing economic growth. The agency noted that the large volume of government security issuances is crowding out the corporate bond market.

The corporate debt market, where outstandings have grown 11 per cent over the past six years to Rs 59.1 lakh crore, accounted for only 22 per cent of total debt outstanding as of the end of FY26. Crisil highlighted that Prime Minister Narendra Modi's Viksit Bharat vision of transforming India into a $30 trillion economy will require substantial debt financing. According to the agency, the non-sovereign debt-to-GDP ratio, currently at 84 per cent, needs to increase to more than 140 per cent. It estimated that India Inc will require debt funding of up to Rs 140 lakh crore over the next five fiscal years alone.

It further said that growth in the corporate bond market tells only part of the story, as the segment continues to face challenges such as issuances being concentrated in higher-rated categories, a shallow repo market, low secondary-market liquidity, and limited retail participation. The agency highlighted the need for a transformative shift in the scale, depth and liquidity of the debt market. Besides strengthening the corporate debt market, it added that the development of the securitisation and municipal bond markets would also support India's financing needs.

The CNX Nifty is currently trading at 24122.60, up by 44.10 points or 0.18% after trading in a range of 24097.05 and 24167.40. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were HCL Technologies up by 2.14%, Mahindra & Mahindra up by 1.47%, Tech Mahindra up by 1.37%, Maruti Suzuki India up by 1.34% and Wipro up by 1.15%. On the flip side, SBI Life Insurance down by 2.48%, HDFC Life Insurance down by 1.27%, JIO Financial Services down by 0.78%, Bajaj Finserv down by 0.52% and Eternal down by 0.47% were the top losers.

Asian markets were trading mixed; Nikkei 225 slipped 1664.51 points or 2.42% to 67,087.00, KOSPI dropped 467.91 points or 6.42% to 6,816.50, Shanghai Composite weakened 32.38 points or 0.82% to 3,923.20 and Straits Times fell 29.39 points or 0.53% to 5,530.33. On the other hand, Hang Seng jumped 473.9 points or 1.88% to 25,155.00, Taiwan Weighted surged 208.15 points or 0.46% to 45,839.74 and Jakarta Composite was up by 27.76 points or 0.46% to 6,069.73.
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