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A firm trade continued over the Dalal Street in early afternoon deals, with both Sensex and Nifty trading higher, aided by heavy buying at Realty and Telecom counters, despite mixed cues from other Asian markets. Sentiments remained optimistic, after CRISIL report stated that industrial activity in the current fiscal year is poised to gain support from domestic consumption, with an anticipated improvement in private consumption, which had weakened to 4 per cent last fiscal.

On the global front, Asian markets were trading mixed, as Japan's tertiary activity index declined unexpectedly in May after rebounding in the previous month.  According to data from the Ministry of Economy, Trade, and Industry, the seasonally adjusted tertiary activity index dropped 0.4 percent month-on-month in May, reversing a 2.2 percent strong rise in April. 

Back home, MRO industry stocks were in watch, as Union Civil Aviation Minister, Kinjrapu Rammohan Naidu has announced the implementation of a uniform IGST rate of 5% on all aircraft and aircraft engine parts, effective from today,15th July 2024. This decision marks a significant milestone for the domestic Maintenance, Repair, and Overhaul (MRO) industry, aimed at making India a global aviation hub.

The BSE Sensex is currently trading at 80777.56, up by 112.70 points or 0.14% after trading in a range of 80708.78 and 80898.30. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index fell by 0.04%, while Small cap index was up by 0.52%.

The top gaining sectoral indices on the BSE were Realty up by 1.69%, Telecom up by 1.00%, Metal up by 0.90%, FMCG up by 0.68% and Energy up by 0.60%, while Capital Goods down by 0.23%, Healthcare down by 0.12%, Industrials down by 0.11%, Power down by 0.11% and Bankex down by 0.10% were the top losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 2.41%, Bharti Airtel up by 2.04%, Asian Paints up by 1.12%, Tata Steel up by 0.87% and ICICI Bank up by 0.83%. On the flip side, Kotak Mahindra Bank down by 1.58%, Ultratech Cement down by 1.02%, Reliance Industries down by 0.76%, NTPC down by 0.58% and Nestle down by 0.49% were the top losers.

Meanwhile, Federation of Automobile Dealers Associations (FADA) has said that automobile retail sales increased 9 per cent year-on-year in April-June quarter of FY25 (Q1FY25) with all segments, barring tractors, reporting growth. Overall retail sales rose to 61,91,225 units in Q1FY25 from 56,59,060 units in the same quarter of FY24. 

Passenger vehicle retails increased 2.53 per cent to 9,20,047 units in Q1FY25 as against 8,97,361 units a year ago. Two-wheeler retails stood at 45,54,255 units in Q1FY25, up 12.56 per cent as compared with 40,46,169 units in the year-ago period. Three-wheeler sales rose 11.36 per cent to 2,72,691 units in Q1FY25 from 2,44,878 units in the same period last fiscal. 

Commercial vehicle retail sales witnessed marginal increase at 2,46,513 units in Q1FY25 as against 2,44,834 units earlier. Tractor retail sales declined 12.44 per cent to 1,97,719 units in Q1FY25 from 2,25,818 units a year ago.   

The CNX Nifty is currently trading at 24631.65, up by 44.95 points or 0.18% after trading in a range of 24599.75 and 24661.25. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Coal India up by 3.13%, BPCL up by 2.84%, Hindustan Unilever up by 2.32%, Bharti Airtel up by 1.97% and Tata Consumer Products up by 1.91%. On the flip side, Dr. Reddy's Lab down by 1.78%, Kotak Mahindra Bank down by 1.55%, Shriram Finance down by 1.48%, Ultratech Cement down by 1.00% and SBI Life Insurance down by 0.85% were the top losers.

Asian markets were trading mixed; Hang Seng declined 272.87 points or 1.51% to 17,743.07, Jakarta Composite plunged 34.05 points or 0.47% to 7,244.81, Shanghai Composite weakened 1.83 points or 0.06% to 2,972.18 and Straits Times fell 10.83 points or 0.31% to 3,489.06, while KOSPI increased 5.17 points or 0.18% to 2,866.09, Nikkei 225 surged 84.4 points or 0.2% to 41,275.08 and Taiwan Weighted added 117.89 points or 0.49% to 23,997.25.