Shares of companies related to sectors such as textiles, leather, pharmaceuticals, auto among others are in focus on Thursday's trade ahead of a trade pact between India and the UK.
India and the UK will sign a free trade agreement on Thursday in London that will allow export of labour-intensive products such as leather, footwear and clothing at concessional rates, while making imports of whisky and cars from Britain cheaper.
Defying a weak trend in the broader equity market, leather related stocks such as AKI India Ltd, Zenith Exports, Mirza International and Mayur Uniquoters were trading in the range of 5-1% on the BSE.
Textile related stocks such as Arvind Ltd, Vardhman Textiles, Welspun Living, Pearl Global Industries, Trident Ltd and Alok Industries were also trading higher during the morning trade.
Shares of Dr Reddys Laboratories, Lupin, Sun Pharma, Aurobindo Pharma and Alkem Laboratories were quoting in the green.
Tata Motors climbed more than 2% and auto components and equipments maker Sona BLW Precision Forgings climbed nearly 1%.
The 30-share BSE Sensex quoted 216.10 points lower at 82,510.54 during the morning trade. The 50-share NSE Nifty traded 46.55 points down at 25,172.15.
The two countries announced the conclusion of the negotiations for the trade agreement on May 6.
Shares of United Spirits and United Breweries were also quoting higher.
The proposed trade pact between India and the UK is likely to benefit sectors such as textiles, leather, gems and jewellery, pharmaceuticals, marine and engineering goods, exporters' body FIEO said on Wednesday.
