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Key gauges end on strong note led by banking, IT stocks
Jul-17-2026

Indian equity benchmarks ended on strong note with gains of over a percent on Friday as broad-based buying in heavyweight banking, Realty and IT stocks helped benchmark indices outperform weak global cues. Investor sentiment remained resilient despite persistent concerns over elevated AI valuations and ongoing geopolitical tensions in the Middle East.

Some of the important factors in trade:

India, EU likely to sign FTA by end-2026: In a move to fast-track efforts to strengthen bilateral ties, Commerce and Industry Minister Piyush Goyal has said that India and the European Union (EU) have agreed to sign the Free Trade Agreement (FTA) by the end of calendar year 2026. He noted that the pact is likely to come into force in the first quarter of 2027, likely during February-March. 

Govt to introduce MSMEs Development (Amendment) bill to enhance ease of doing business: With an aim to enhance ease of doing business for micro, small and medium enterprises (MSMEs), the government is planning to introduce the MSMEs Development (Amendment) Bill, 2026 and put it to a vote in the upcoming Monsoon Session of Parliament. 

Crisil Ratings sees muted revenue growth for India's IT services sector: Crisil Ratings in its latest report has said that artificial intelligence (AI)-driven disruptions, alongside weak discretionary spending and continuing geopolitical uncertainties are expected to keep revenue growth of India's information technology (IT) services sector muted this fiscal year and the next one. 

Govt sets target to raise India’s food processing level to 25% by 2031: Food Processing Secretary Avinash Joshi said that the Ministry of Food Processing Industries has set a target to raise the country's food processing level to 25 per cent by 2031, up from 17 per cent in 2023 and indicated that new policy measures to encourage investment in the sector are likely to be announced for achieving this goal.

Global front: European markets were trading lower as worries about escalating tensions in the Middle East and a lack of positive triggers rendered the mood cautious. Asian markets settled mostly lower amid growing questions about sky-high artificial intelligence-driven valuations. 

Finally, the BSE Sensex rose 964.58 points or 1.25% to 78,151.45 and the CNX Nifty was up by 261.55 points or 1.09% to 24,334.30. 

The BSE Sensex touched high and low of 78,282.55 and 77,308.00, respectively. There were 24 stocks advancing against 6 stocks declining on the index.

The top gaining sectoral indices on the BSE were Bankex up by 1.58%, Realty up by 1.39%, IT up by 1.38%, Auto up by 1.03% and Energy up by 0.96%, while Telecom down by 1.46%, Capital Goods down by 1.34%, Healthcare down by 1.25%, Power down by 0.96% and Industrials down by 0.85% were the top losing indices on BSE.

The top gainers on the Sensex were Tech Mahindra up by 3.91%, Kotak Mahindra Bank up by 3.37%, TCS up by 3.02%, Reliance Industries up by 2.59% and Hindustan Unilever up by 2.17%. On the flip side, Sun Pharma down by 0.87%, Trent down by 0.68%, Bharti Airtel down by 0.59%, Ultratech Cement down by 0.55% and Interglobe Aviation down by 0.40% were the top losers.

Meanwhile, in a move to fast-track efforts to strengthen bilateral ties, Commerce and Industry Minister Piyush Goyal has said that India and the European Union (EU) have agreed to sign the Free Trade Agreement (FTA) by the end of calendar year 2026. He noted that the pact is likely to come into force in the first quarter of 2027, likely during February-March. He added that the agreement would create a wide range of opportunities for businesses on both sides.

On January 27, 2026, India and the EU announced the conclusion of negotiations for what has been described as the 'mother of all deals'. Under the pact, 93 per cent of Indian exports will enjoy duty-free access to the 27-member bloc, while imports of luxury cars and wines from the EU are expected to become more affordable.

The deal, concluded after negotiations spanning more than two decades, will create a market of around 2 billion people encompassing the world's fourth-largest economy, India, and the EU, the world's second-largest economic bloc. Together, India and the EU account for nearly 25 per cent of global GDP and about one-third of global trade, valued at around $11 trillion and $33 trillion, respectively.

Further, the minister invited Finnish companies to explore investment opportunities in India across sectors such as clean and green energy, biotechnology, and energy storage systems. He also highlighted that India has earmarked Rs 1.27 lakh crore for the second phase of the India Semiconductor Mission and urged Finnish firms to tap opportunities in the semiconductor sector.

CNX Nifty touched high and low of 24,367.30 and 24,099.05, respectively. There were 37 stocks advancing against 13 stocks declining on the index. 

The top gainers on Nifty were Tech Mahindra up by 3.96%, Kotak Mahindra Bank up by 3.77%, JIO Financial Services up by 2.99%, TCS up by 2.95% and ICICI Bank up by 2.52%. On the flip side, Hindalco Industries down by 1.49%, Dr. Reddy's Labs. down by 1.15%, Wipro down by 1.04%, Sun Pharma down by 0.83% and Apollo Hospitals Enterprise down by 0.77% were the top losers. 

European markets were trading lower; UK’s FTSE 100 decreased 7.6 points or 0.07% to 10,564.64, France’s CAC fell 52.46 points or 0.63% to 8,325.40 and Germany’s DAX lost 114.09 points or 0.46% to 24,801.40.

Asian markets settled mostly lower on Friday, tracking Wall Street's fall overnight as high-flying chip and memory stocks declined on concerns over lofty artificial intelligence valuations and rising debt, as every major hyperscaler races to build AI data centers. Investor sentiment was also weighed down by intensifying military exchanges in the Middle East, which drove oil prices higher and heightened inflationary and interest rate concerns. Chinese shares dropped following chipmaker CXMT's planned $8.6 billion IPO, as a pipeline of large listings raised fears of a liquidity crunch. While, US-China tensions also remained on investors' radar after US President Donald Trump accused China of exploiting US election data in an extraordinary primetime speech in Washington. Markets in South Korea were closed for a holiday. 

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,764.16

-118.26

-3.05

Hang Seng

24,562.24

-446.36

-1.78

Jakarta Composite

6,175.54

67.33

1.09

KLSE Composite

1,731.45

9.26

0.54

Nikkei 225

64,141.12

-2,694.42

-4.03

Straits Times

5,509.43

-29.95

-0.54

KOSPI Composite

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--

--

Taiwan Weighted

42,671.27

-2,953.71

-6.47
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