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Gaining rally persists over Dalal Street
Jul-27-2026

A gaining rally maintained in Indian equity markets during early afternoon deals, with both Sensex and Nifty holding strong gains, on the back of buying at all sectors except Telecom along with positive cues from other Asian markets, after the United States and Iran paused strikes against each other for a second day, helping ease concerns over a broader conflict and supply disruptions in the Middle East. Traders took a note of Union Finance Minister Nirmala Sitharaman’s statement that the government does not see a need to revisit its Budget estimates despite renewed geopolitical tensions and weather-related risks, asserting that adequate fiscal buffers have been created to deal with global uncertainties.

On the global front, Asian markets were trading mostly in green, after Japan's leading index strengthened less than initially estimated in May to the highest level in nearly five years. The latest data from the Cabinet Office showed that the leading index, which measures future economic activity, climbed to 116.5 in May from 116.1 in April. Moreover, this was the highest reading since July 2021, when it was 116.9. The flash score was 116.8.

The BSE Sensex is currently trading at 76683.54, up by 623.77 points or 0.82% after trading in a range of 76517.85 and 76768.13. There were 26 stocks advancing against 4 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 2.34%, Realty up by 1.84%, Consumer Disc up by 1.53%, TECK up by 1.49% and Healthcare up by 1.33%, while Telecom down by 0.27% were the only losing index on BSE.

The top gainers on the Sensex were Eternal up by 5.41%, Interglobe Aviation up by 4.74%, Infosys up by 3.75%, Bajaj Finance up by 3.13% and Asian Paints up by 2.76%. On the flip side, HDFC Bank down by 0.57%, Adani Ports & SEZ down by 0.57%, Ultratech Cement down by 0.37% and Axis Bank down by 0.31% were few losers.

Meanwhile, with additional 10% US tariffs coming into effect, the economic think tank Global Trade Research Initiative (GTRI) has said these tariffs are appears to be aimed at preserving the Trump administration's tariff wall rather than addressing an unproven forced labour issue in India. It pointed that the tariff under the forced-labour investigation also lacks a credible factual basis as the US has not produced evidence that India imports goods made with forced labour. The new tariff takes effect on July 24, 2026. It has replaced the temporary 10% global tariffs, imposed under Section 122 for 150 days from February 24, that expired on July 24. Goods loaded before July 24 and entered into the US by July 28 are exempt under a transition provision.

The US has imposed a 10% tariff on goods imported from India and 16 other countries as part of a wider action against products made using forced labour. GTRI noted that India was bracketed among countries attracting 12.5% levies on June 3, when the US had proposed tariffs under Section 301 of the Trade Act, but Washington took note of the amendment New Delhi made to its foreign trade policy prohibiting the import of goods produced using forced labour. 

In response to US concerns, GTRI highlighted that India has already amended its Foreign Trade Policy to ban the import of goods produced using forced or compulsory labour. It also pointed that Indian law prohibits forced labour in domestic production through constitutional guarantees and labour statutes. Meanwhile, GTRI said that Trump administration is expected to announce the results of another Section 301 investigation into excess manufacturing capacity, which could lead to additional tariffs on a wide range of industrial products. These duties will be over and above the existing tariff a domestic product is facing in the American market.

The CNX Nifty is currently trading at 23951.20, up by 183.75 points or 0.77% after trading in a range of 23891.55 and 23972.80. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were Eternal up by 5.46%, Interglobe Aviation up by 4.62%, Infosys up by 3.65%, Bajaj Finance up by 3.05% and Asian Paints up by 2.70%. On the flip side, ONGC down by 3.06%, Adani Ports & SEZ down by 0.72%, SBI Life Insurance down by 0.53%, HDFC Life Insurance down by 0.51% and HDFC Bank down by 0.51% were the top losers.

Asian markets were trading mostly in green; KOSPI increased 65.13 points or 0.96% to 6,755.75, Hang Seng advanced 294.77 points or 1.18% to 25,258.00, Nikkei 225 surged 231.85 points or 0.36% to 64,843.00, Straits Times rose 19.5 points or 0.35% to 5,607.84 and Shanghai Composite strengthened 44.05 points or 1.14% to 3,858.25, while Jakarta Composite plunged 15.33 points or 0.25% to 6,181.10 and Taiwan Weighted lost 20.65 points or 0.05% to 43,634.19.
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