NIFTY TRADES ABOVE 25,100 LEVEL; EUROPEAN MARKETS ADVANCE

The domestic equity benchmarks traded with moderate gains in afternoon trade, buoyed by news that India and the European Union had clinched a landmark free trade agreement (FTA) after 18 years of stalled negotiations. Investor focus remained on key quarterly earnings from Asian Paints, Vodafone Idea, and Motilal Oswal Financial Services, while traders also monitored movements in the rupee and global geopolitical developments.

The Nifty traded above 25,100 level. Metal, oil & gas and FMCG shares advanced, while media, consumer durables and auto shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex added 122.25 points or 0.16% to 81,649.34. The Nifty 50 index rose 59.90 points or 0.22% to 25,103.25.

In the broader market, the S&P BSE Mid-Cap index fell 1.56% and the S&P BSE Small-Cap index dropped 2.19%.

The market breadth was negative. On the BSE, 1,677 shares rose and 2,484 shares fell. A total of 190 shares were unchanged.

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, surged 6.64% to 15.14.

Gainers & Losers:

Adani Enterprises (up 4.85%), Axis Bank (up 4.40%), Grasim Industries (up 3.19%), Adani Ports and Special Economic Zone (up 3.13%) and JSW Steel (up 2.71%) were the major Nifty50 gainers.

Mahindra & Mahindra (down 4.04%), Kotak Mahindra Bank (down 3.15%), Eternal (down 2.65%), Max Healthcare Institute (down 2.06%) and Maruti Suzuki India (down 1.68%) were the major Nifty50 losers.

Axis Bank jumped 4.27% after the bank reported a 2.94% increase in standalone net profit to Rs 6,489.57 crore in Q3 FY26 compared with Rs 6,303.77 crore in Q3 FY25. Total income increased 4.26% year on year (YoY) to Rs 38,500.06 crore in Q3 FY26.

India-EU Trade Deal:

India and the European Union have signed the �mother of all deals�, PM Modi said on Tuesday. Prime Minister Narendra Modi lauded the signing of the free trade agreement between India and the European Union and said that the deal represented �25 per cent of the global GDP and 1/3rd of global trade�.

On tariffs overall, Sefcovic said the aim is 97�99% partial or full tariff liberalisation, which could generate savings of around �4 billion a year and help double bilateral trade within five years.

The Narendra Modi government is said to have agreed to immediately lower duties on up to 200,000 European cars a year priced above �15,000, or about Rs 16.5 lakh. Electric vehicles are excluded.

Stocks in Spotlight:

Indusind Bank slipped 1.04% after the bank reported 88.5% decline in standalone net profit to Rs 161.16 crore on 13.67% fall in total income to Rs 13,079.39 crore in Q3 FY26 over Q3 FY25.

Shriram Finance lost 1.12% after the NBFC�s standalone net profit declined 29.36% to Rs 2,521.67 crore on a 13.88% increase in total income to Rs 12,191.58 crore in Q3 FY26 over Q3 FY25.

Ultratech Cement advanced 2.66% after the company reported a 26.92% jump in consolidated net profit to Rs 1,725.40 crore on 22.78% increase in revenue from operations to Rs 21,829.68 crore in Q3 FY26 over Q3 FY25.

Bharat Petroleum Corporation (BPCL) added 1.47% after the company reported a 62.29% jump in standalone net profit to Rs 7,545.27 crore in Q3 FY26 as against Rs 4,649.20 crore posted in Q3 FY25. Net sales (excluding excise duty) rose 5.18% YoY to Rs 1,18,999.37 crore in the December 2025 quarter.

DCB Bank surged 7.82% after the bank reported 22% jump in net profit to Rs 185 crore on a 16% increase in total income to Rs 846 crore in Q3 FY26 as compared with Q3 FY25.

Godrej Consumer Products tumbled 5.64% after the company`s consolidated net profit remained flat at Rs 497.91 crore in Q3 FY26, even as net sales increased 8.8% year-on-year to Rs 4,079.47 crore compared with Q3 FY25.

Global Markets:

European markets traded higher on Tuesday, helped by a trade deal between the European Union and India, as investors await more quarterly earnings and a Federal Reserve rate decision.

Asian shares advanced despite concerns regarding tariffs resurfaced post US President Donald Trump threatening to increase levies on South Korean goods.

Trump said on Truth Social that South Korea`s legislature has not approved Seoul�s trade deal with Washington, and that tariffs on the country will climb to 25%, from 15%.

Overnight in the U.S., the S&P 500 index advanced 0.50%, while the Dow Jones Industrial Average gained 0.64%.

The Nasdaq Composite climbed 0.43%, supported by jumps of about 3%, 2% and 1% in Apple, Meta Platforms and Microsoft, respectively, ahead of their earnings reports later in the week.

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