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Bourses continue upward momentum in early afternoon session
Apr-01-2026

Indian markets continued their upward momentum in early afternoon session following positive cues from other Asian markets. Healthy buying in IT sector’s stocks also helped markets to trade higher. Traders were hoping for a de-escalation of the conflict in West Asia. Investors were braced for HSBC Manufacturing PMI Final data, which going to be out on April 02. Traders took a note of the Reserve Bank of India's (RBI) latest report stating that Indian banking sector witnessed a strong rise in industrial credit growth, rising by 13.5 per cent year-on-year (YoY) on the fortnight ending February 28, 2026, compared with 7.5 per cent in the corresponding fortnight of last year. This growth is fueled by higher growth in infrastructure, all engineering, chemicals and chemical products, petroleum, coal products and nuclear fuels and textiles.

On the global front, all Asian markets were trading higher as China's manufacturing activity continued to expand in March but the pace of growth moderated from the previous month. The headline RatingDog manufacturing Purchasing Managers' Index fell to 50.8 in March from 52.1 in February. 

The BSE Sensex is currently trading at 73686.51, up by 1738.96 points or 2.42% after trading in a range of 73325.83 and 73964.58. There were 28 stocks advancing against 2 stocks declining on the index.

The top gaining sectoral indices on the BSE were Industrials up by 4.18%, IT up by 3.93%, Capital Goods up by 3.85%, Basic Materials up by 3.32% and Metal was up by 3.27%, while there were no losing sectoral indices on the BSE. 

The top gainers on the Sensex were Interglobe Aviation up by 6.58%, Bharat Electronics up by 5.75%, Trent up by 5.53%, Adani Ports up by 5.53% and Larsen & Toubro up by 4.21%. On the flip side, NTPC down by 0.94% and Power Grid down by 0.47% were the top losers.

Meanwhile, with aim of reducing country’s import dependency for critical electronic components and boost high-value manufacturing capabilities, the government has sanctioned the fourth tranche of 29 proposals under the Electronics Components Manufacturing (ECM) Scheme. With a projected investment of Rs 7,104 crore, the 29 approvals are expected to generate direct employment opportunities for 14,246 people.  Further, the latest tranche includes approval for the Rare Earth Permanent Magnet facility, entailing Rs 700 crore investment. This is the first project related to the manufacturing of Rare Earth Permanent Magnets from rare earth oxide and marks a significant step towards the development of indigenous capabilities in advanced materials.

Moreover, the approved projects include the manufacturing of 16 products, which have cross-sectoral applications, such as mobile manufacturing, telecom, consumer electronics, strategic electronics, automotive and IT hardware products. The proposal includes one project in the category of Display Modules, 11 in Antennas, Capacitors, Connectors, Heat Sinks, Li-ion Cells, Relays, Resistors, Transducers, SMD Passives, Flexible PCB and Inductors; and three supply chain items (Laminates, Metallised films for Capacitors and Rare Earth Permanent Magnets, Capital Goods and their parts). 

With these approvals, overall, 75 applications have been cleared under the Electronics Components Manufacturing Scheme, amounting to an expected investment of Rs 61,671 crore and direct employment for 65,040 persons. Meanwhile, IT Minister Ashwini Vaishnaw emphasized that electronics component industry must build design capabilities, achieve Six Sigma quality standards, and enhance workforce skilling. He cautioned that beneficiaries who do not invest in product design could be weeded out.

The CNX Nifty is currently trading at 22839.15, up by 507.75 points or 2.27% after trading in a range of 22736.60 and 22941.30. There were 41 stocks advancing against 9 stocks declining on the index.

The top gainers on Nifty were Interglobe Aviation up by 6.54%, Bharat Electronics up by 5.88%, Adani Ports up by 5.63%, Trent up by 5.45% and Adani Enterprises up by 5.38%. On the flip side, Apollo Hospital down by 1.52%, HDFC Life Insurance down by 1.43%, Dr. Reddy's Lab down by 0.94%, NTPC down by 0.90% and Cipla down by 0.89% were the top losers.

All Asian markets were trading higher; Nikkei 225 surged 2466.28 points or 4.61% to 53,530.00, Taiwan Weighted added 1451.83 points or 4.38% to 33,174.82, Hang Seng advanced 642.86 points or 2.59% to 25,431.00, KOSPI increased 426.24 points or 7.78% to 5,478.70, Jakarta Composite gained 109.29 points or 1.55% to 7,157.51, Straits Times rose 97.47 points or 2% to 4,982.92 and Shanghai Composite was up by 55.01 points or 1.41% to 3,946.87.
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