Nifty trades above 25,600 level; European mrkt advance

The key equity barometers traded with minor gains in the early-afternoon trade. The Nifty traded above the 25,600 level. IT, auto and private bank shares advanced, while PSU bank, media, and realty stocks declined.

At 12:30 ST, the barometer index, the S&P BSE Sensex, added 86.04 points or 0.10% to 83,621.39. The Nifty 50 index rose 39.65 points or 0.15% to 25,613.60.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.01% and the S&P BSE Small-Cap index fell 0.28%.

The market breadth was negative. On the BSE, 1,730 shares rose and 2,311 shares fell. A total of 191 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was rose 0.71% to 12.39.

US-India Trade Deal:

Hints of a potential trade breakthrough with the US emerged from the White House on Monday as President Donald Trump reportedly said that Washington and New Delhi are moving closer to finalizing a new trade agreement, adding that the US would eventually bring down tariffs on India. Trump's remarks came during the swearing-in ceremony of Sergio Gor, the new US Ambassador to India, at the Oval Office.

"Were making a deal with India. Much different than we had. Right now they dont love me, but they will love us again. Were getting a fair deal. Theyre very good negotiators, so Sergio, you will have to take a look at that. I think were pretty close to doing a deal that is good for everybody," the president reportedly said during the ceremony.

Speaking to reporters later, Trump reportedly responded to questions on whether the US would consider lowering tariffs on Indian imports. Well, right now, the tariffs are very high on India because of the Russian oil, and theyve stopped doing the Russian oil. Its been reduced very substantially. Yeah, were going to be bringing the tariffs down. At some point, were going to be bringing them down, he reportedly stated.

Gainers & Losers:

InterGlobe Aviation (up 2.38%), Bharat Electronics (up 2.08%), HDFC Life Insurance Company (up 1.33%), Bajaj Auto (up 1.54%) and Mahindra & Mahindra (up 1.21%) were the major Nifty50 gainers.

Bajaj Finance (down 7.47%), Bajaj Finserv (down 6.55%), Oil & Natural Gas Corporation (down 1.75%), Tata Motors Passenger Vehicles (down 1.30%) and Apollo Hospitals Enterprise (down 1.06%) were the major Nifty50 losers.

Bajaj Finance slumped 7.58% despite reporting a strong Q2 profit after tax (PAT), as the management revised its full-year Assets Under Management (AUM) growth guidance to 22%23% from the earlier projection of 24%25%.

Oil and Natural Gas Corporation (ONGC) fell 1.73%. The company has reported 5.4% rise in consolidated net profit to Rs 10,785 crore despite 0.9% fall in gross revenue to Rs 1,57,911 crore in Q2 FY26 as compared with Q2 FY25.

Stocks in Spotlight:

Vodafone Idea surged 7.47% after the company reported a consolidated net loss of Rs 5,524 crore in Q2 FY26, narrowing from a net loss of Rs 7,175.90 crore in the same quarter last year. Net sales increased 2.3% to Rs 11,169.60 crore in Q2 FY26 compared with Rs 10,918.20 crore posted in same quarter last year.

Sula Vineyards declined 1.99% after the companys consolidated net profit tumbled 58.43% to Rs 6.02 crore on 1.1% fall in revenue from operations to Rs 139.66 crore in Q2 FY26 over Q2 FY25.

Global Markets:

European stocks opened higher on Tuesday as hopes for an end to the U.S. government shutdown increased.

Asian markets rose after Wall Street gains on revived artificial intelligence optimism and growing hopes that the U.S. government shutdown will end soon.

The Senate passed legislation on Monday night to end the nations longest government shutdown, after a critical splinter group of Democrats joined with Republicans and backed a spending package that omitted the chief concession their party had spent weeks demanding.

The 60-to-40 vote, on Day 41 of the shutdown, signaled a break in the gridlock that has shuttered the government for weeks, leaving hundreds of thousands of federal workers furloughed, millions of Americans at risk of losing food assistance, and millions more facing air-travel disruptions.

Shares of Japanese financial conglomerate Orix edged higher on Tuesday after the company announced a partnership with Qatars sovereign wealth fund, Qatar Investment Authority, to launch a $2.5 billion private equity fund.

The fund will invest in Japanese companies, primarily targeting business succession, privatization of listed companies, and carve-outs, valued at least 30 billion yen (about $200 million), Orix said in a press release. Orix and QIA will contribute 60% and 40%, respectively.

On Wall Street, the US benchmarks rose Monday after the White House expressed support for the bipartisan deal to end the shutdowna key development that makes it likely the government will reopen within days. Separately, President Donald Trump also floated the idea of paying a $2,000 tariff dividend to US citizens.

The Dow Jones Industrial Average climbed 381.53 points, or 0.81%, to end at 47,368.63. The S&P 500 gained 1.54% to settle at 6,832.43, while the Nasdaq Composite advanced 2.27% to finish at 23,527.17.

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