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Markets pare some gains in late trade
Jul-06-2026

Benchmarks have pared some gains in late trade as traders opted to book some profits following the recent gains made by the markets. However, Nifty and Sensex continued to trade well above the neutral lines with half a percent gain supported by strong buying among large cap banking stocks like HDFC Bank and ICICI Bank. Sentiments also remained upbeat as foreign institutional investors bought securities worth Rs 1,355.33 on July 3, 2026. Further, investors were optimistic after Commerce and Industry Minister Piyush Goyal said that India is targeting an ambitious 16-17 percent growth in merchandise exports to about $530 billion in the current fiscal year (FY27). He said that the services sector is aiming for 11% growth to about $470 billion during FY27.

On the global front, Asian equity markets were trading mixed as market participant took cautious stance and awaited corporate earnings season to unfold. European equity markets were trading higher after producer prices in the Euro Area moderated in May 2026. Producer prices in the Euro Area rose 0.2% month-over-month in May 2026, following an upwardly revised 0.7% rise in April.

The BSE Sensex is currently trading at 78227.83, up by 463.92 points or 0.60% after trading in a range of 77879.70 and 78398.06. There were 17 stocks advancing against 13 stocks declining on the index.

The gaining sectoral indices on the BSE were Realty up by 1.55%, Capital Goods up by 1.14%, Auto up by 0.93%, Consumer Durables up by 0.89% and Oil & Gas up by 0.87%, while IT down by 1.05%, TECK down by 0.36% and Healthcare down by 0.08% were the only losing indices on BSE.

The top gainers on the Sensex were HDFC Bank up by 3.61%, Mahindra & Mahindra up by 2.05%, Bharat Electronics up by 1.60%, Reliance Industries up by 1.17% and ICICI Bank up by 1.13%. On the flip side, Kotak Mahindra Bank down by 3.71%, TCS down by 1.89%, Bajaj Finserv down by 1.64%, Infosys down by 1.25% and HCL Technologies down by 1.13% were the top losers.

Meanwhile, Federation of Indian Export Organisations (FIEO) has said that India's exports continue to hold up well in a volatile global market, though institutional credit support remains inadequate, adding that priority sector lending (PSL) for export credit has witnessed a significant decline, with export credit contracting by nearly 14% in the recent period. This has created serious liquidity constraints, particularly for MSME exporters who constitute the backbone of India's export sector.

Therefore, the industry body urged the government to engage with the Reserve Bank of India and the banking sector to restore export credit as a strategic priority, ensure adequate and timely availability of export finance at internationally competitive interest rates and encourage banks to adopt a more facilitative approach towards exporters. It said a vibrant and responsive export credit ecosystem will be indispensable for achieving India's ambitious target of becoming a $2 trillion export economy.

Apart from this, FIEO requested the government to address the logistics challenges impacting India's export competitiveness and establish an Apex Green Transition Fund dedicated to supporting exporters in adopting cleaner technologies, improving energy efficiency and reducing carbon intensity. Besides, the industry body urged the government to operationalise GST refunds for foreign tourists to promote tourism and retail exports.

The CNX Nifty is currently trading at 24409.40, up by 138.55 points or 0.57% after trading in a range of 24287.10 and 24458.65. There were 26 stocks advancing against 24 stocks declining on the index.

The top gainers on Nifty were HDFC Bank up by 3.66%, Hindalco Industries up by 2.76%, ONGC up by 2.57%, Bajaj Auto up by 2.21% and Mahindra & Mahindra up by 2.13%. On the flip side, Kotak Mahindra Bank down by 3.60%, TCS down by 1.89%, Bajaj Finserv down by 1.60%, Max Healthcare Institute down by 1.60% and Wipro down by 1.28% were the top losers.

Asian equity markets were trading mixed; Nikkei 225 slipped 107.07 points or 0.15% to 69,637.00, Taiwan Weighted lost 224.23 points or 0.48% to 46,556.39, KOSPI dropped 37.01 points or 0.46% to 8,051.33 and Shanghai Composite weakened 2.4 points or 0.06% to 4,041.24, while Hang Seng advanced 182.97 points or 0.78% to 23,533.00, Straits Times rose 14.73 points or 0.28% to 5,259.02 and Jakarta Composite gained 38.6 points or 0.65% to 5,914.38.

European equity markets were trading higher; UK’s FTSE 100 increased 12.87 points or 0.12% to 10,691.90, France’s CAC rose 31.43 points or 0.37% to 8,539.50 and Germany’s DAX gained 59.19 points or 0.23% to 25,838.50.
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