Mumbai Stock Market Sees Gains Amid Trade Deal Hopes with the US

The BSE Sensex in Mumbai surged by 270 points, driven by late buying in banking and IT sectors, amid hopes for a trade agreement with the US. Investors are closely monitoring developments as the US has postponed reciprocal tariffs. Major gainers included Kotak Mahindra Bank and Infosys, while Titan faced significant losses. President Trump hinted at nearing a deal with India, which has kept market sentiment cautiously optimistic. As global markets show mixed results, the Indian equity market remains stable, reflecting investor caution and anticipation.

By Narendra Chaudhary Jul 8, 2025, 16:26 IST

Mumbai Stock Exchange Performance

Mumbai: The BSE Sensex experienced a rise of 270 points on Tuesday, driven by late-session purchases in banking and select IT stocks, alongside favorable trends in Asian markets.

The 30-share index increased by 270.01 points, or 0.32%, closing at 83,712.51, with 18 stocks advancing and 12 declining. The Sensex recorded a peak of 83,812.31 and a low of 83,320.95, fluctuating by 491.36 points.

The NSE Nifty also saw an uptick, gaining 61.20 points, or 0.24%, to finish at 25,522.50 after a relatively quiet trading day.

Throughout the session, stock markets remained within a narrow range until value buying emerged just before the close. Investors are keenly awaiting concrete developments regarding the proposed trade agreement between India and the US, especially as the US has postponed reciprocal tariffs until August 1, according to analysts.

Among the notable gainers on the Sensex were Kotak Mahindra Bank, Eternal, Asian Paints, NTPC, Bharat Electronics Ltd, Adani Ports, Infosys, and State Bank of India.

Conversely, Titan saw a decline of over 6%, with Trent, Axis Bank, Maruti, and Hindustan Unilever also experiencing losses.

President Donald Trump has indicated that the US is nearing a trade agreement with India, stating, "We’ve made deals with the UK and China, and we’re close to finalizing one with India. For others, we’ve sent letters outlining the tariffs they will face if they wish to engage in trade with us."

These comments coincided with the Trump administration dispatching initial letters to various nations detailing the tariffs that will be imposed on their products entering the US.

Countries receiving these letters included Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Kazakhstan, Laos, Malaysia, Serbia, South Africa, South Korea, Thailand, and Tunisia.

In the Asian markets, indices such as South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng all closed positively.

Vinod Nair, Head of Research at Geojit Investments Limited, noted, "The Indian equity market remained largely stable as investors awaited clear progress on the India-US trade deal. While there is cautious optimism about a potential agreement, the absence of formal confirmation has limited new buying activity. Additionally, the US's decision to extend the deadline for implementing 25% tariffs on key trading partners has prompted a more cautious approach from investors."

European markets displayed mixed results, while US markets closed lower on Monday.

The global oil benchmark, Brent crude, fell by 0.59% to USD 69.17 per barrel.

Foreign Institutional Investors (FIIs) purchased equities worth Rs 321.16 crore on Monday, as per exchange data, while Domestic Institutional Investors (DIIs) acquired stocks valued at Rs 1,853.39 crore.

After fluctuating throughout the day, the Sensex ultimately closed up by 9.61 points, or 0.01%, at 83,442.50, while the Nifty remained unchanged at 25,461.30.