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EQUITY
Post Session: Quick Review
Apr-01-2026

Indian equity benchmarks traded jubilantly and ended higher with gains of over 1.50% each on Wednesday, driven by hopes of de-escalation in the Middle East conflict after U.S. President Donald Trump indicated that the U.S. could conclude its Iran military campaign within 2–3 weeks. Markets made a gap-opening tracking a sharp rally in global markets and supported by value buying. However, upside remained capped amid foreign fund outflows as exchange data showed Foreign Institutional Investors (FIIs) remained net sellers for the 21st consecutive trading session on Monday, selling shares worth Rs 11,163 crore.

Some of the important factors in trade:

GST collections grow 8.8% in March: Some support came as the government data showed that Gross GST collections grew 8.8 per cent to over Rs 2 lakh crore in March, aided by tax mop-ups from domestic sales as well as imports.

India’s IIP growth edges up to 5.2% in February 2026: Traders were optimistic as the government data showed that Index of Industrial Production (IIP) recorded a 5.2% (Quick Estimate) year-on-year growth in February 2026, which is slightly higher than 5.1% growth in the month of January 2026.

Indian banking sector witnesses 13.5% rise in industrial credit growth in February: 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 on the fortnight ending February 28, 2026, compared with 7.5 per cent in the corresponding fortnight of last year.

On the global front: European equity markets traded in green after U.S. President Donald Trump said the Iran war could end in two weeks sans a deal to re-open the Hormuz. Asian markets ended higher tracking positive cues from global markets.

The BSE Sensex ended at 73134.32, up by 1186.77 points or 1.65% after trading in a range of 72971.68 and 73964.58. There were 26 stocks advancing against 4 stocks declining on the index. (Provisional)

The top gaining sectoral indices on the BSE were Industrials up by 3.40%, Capital Goods up by 3.29%, Consumer Discretionary up by 2.79%, PSU up by 2.75% and Basic Materials up by 2.72%, while Healthcare down by 0.23% was the only losing index on BSE. (Provisional)

The top gainers on the Sensex were Trent up by 6.74%, Interglobe Aviation up by 6.22%, Adani Ports and Special Economic Zone up by 5.53%, Bharat Electronics up by 4.79% and SBI up by 3.90%. On the flip side, Sun Pharma down by 1.51%, NTPC down by 1.47%, Power Grid Corp down by 0.89% and Ultratech Cement down by 0.23% were the top losers. (Provisional)

Meanwhile, rating agency, ICRA in its latest report has projected a muted revenue growth of 2-4% for the construction sector in 2025-26, with road contractors most affected amid muted project awarding by the Ministry of Road Transport and Highways (MoRTH) and slowdown in Jal Jeevan Mission (JJM) related construction projects. The sector, which also witnessed an almost flat performance in 2024-25, is expected to recover with a revenue growth of 6-8% in 2026-27, after two bleak years, aided by healthy budgetary capex.

As per the report, the operating profitability for construction companies is likely to stay in the range of 10.3-10.8% in 2025-26, and 10.1-10.6% in 2026-27, owing to pressure on bitumen prices, driven by geopolitical tensions in West Asia, and intense competition in the sector. The report further said this is sharply lower compared to 13.0-14.0% recorded in 2020-21, reflecting stiff competition for quality projects in the flagship sectors like roads.

Suprio Banerjee, Co-group Head, Corporate Ratings, ICRA, said that diversified EPC (Engineering, Procurement, and Construction) players will continue to be better placed with expected revenue growth of 8-10% in 2026-27, compared to road-focused entities that continue to face pressure in terms of order addition and intense competition. In the last decade, several Indian entities have diversified outside India, especially in Africa and West Asia. However, owing to recent geopolitical challenges, EPC companies focused on West Asia are also expected to witness some pressure on execution momentum.

The CNX Nifty ended at 22679.40, up by 348.00 points or 1.56% after trading in a range of 22618.60 and 22941.30. There were 39 stocks advancing against 11 stocks declining on the index. (Provisional)

The top gainers on Nifty were Trent up by 7.00%, Interglobe Aviation up by 6.02%, Adani Ports and Special Economic Zone up by 5.55%, Adani Enterprises up by 4.76% and Bharat Electronics up by 4.51%. On the flip side, Dr. Reddy's Lab down by 3.61%, HDFC Life Insurance down by 2.99%, Cipla down by 2.31%, NTPC down by 1.62% and Apollo Hospital Ent. down by 1.53% were the top losers. (Provisional)

European markets were trading higher; Germany’s DAX gained 418.36 points or 1.84% to 23,098.40, UK’s FTSE 100 increased 166.95 points or 1.64% to 10,343.40 and France’s CAC rose 111.36 points or 1.42% to 7,928.30.

Asian markets settled higher on Wednesday tracking Wall Street’s gains overnight on optimism regarding a de-escalation in the Middle East after US President Donald Trump stated that the US could end military attacks on Iran within two to three weeks, even without a formal agreement. Iranian President Masoud Pezeshkian stated that Tehran had the necessary will to end the conflict, provided that safeguards are in place to prevent renewed hostilities. Chinese and Hong Kong shares soared as the yuan strengthened against the US dollar. Moreover, Japanese shares gained after the Bank of Japan's quarterly tankan survey showed business sentiment among large Japanese manufacturers improved in the three months to March, a sign that increasing economic uncertainty from the Middle East conflict has yet to hit morale.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,948.55

56.69

1.46

Hang Seng

25,294.03

505.89

2.04

Jakarta Composite

7,184.44

136.22

1.93

KLSE Composite

1,708.90

18.54

1.10

Nikkei 225

53,739.68

2,675.96

5.24

Straits Times

4,975.83

90.38

1.85

KOSPI Composite

5,478.70

426.24

8.44

Taiwan Weighted

33,174.82

1,451.83

4.58
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