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EQUITY
Post Session: Quick Review
Apr-06-2026

Indian equity benchmarks closed near the day’s high points on Monday, driven by strength in banking and financial stocks. After making a cautious start, soon indices slipped into negative territory, as investors remained watchful ahead of the RBI’s upcoming monetary policy decision. Traders were cautious as India's services sector growth momentum rose at the softest pace in 14 months in March, mirroring the slowdown in new business intakes. However, in afternoon session, markets rebounded from intraday lows and ended with significant gains supported by optimism around a ceasefire between the US and Iran.

Some of the important factors in trade:

India emerges as resilient global power amid external challenges: Traders found some support after External Affairs Minister S. Jaishankar stated that India has emerged solidly as a resilient global power, successfully navigating a series of external shocks that have tested the nation's economic and diplomatic strength.

India, UK FTA may come into force in next 30 to 45 days: Traders took note of the Commerce and Industry Minister Piyush Goyal’s statement that the India-UK free trade agreement (FTA), signed in July last year, is likely to come into force in the next 30-45 days.

Moody's cuts India FY27 GDP growth forecast: Traders overlooked Moody's Ratings slashed India's economic growth estimates for the current fiscal to 6% from 6.8% earlier, saying the ongoing conflict in West Asia will moderate growth momentum and raise inflation risks.

On the global front: European markets were closed due to the Easter holiday. Asian markets ended mostly higher, tracking positive cues from US markets on Thursday overnight, even as several regional exchanges remained closed due to holidays.

The BSE Sensex ended at 74106.85, up by 787.30 points or 1.07% after trading in a range of 72728.66 and 74207.46. There were 28 stocks advancing against 2 stocks declining on the index. (Provisional)

The top gaining sectoral indices on the BSE were Consumer Durables up by 2.30%, Realty up by 2.26%, Bankex up by 2.03%, Utilities up by 1.94% and Consumer discretionary up by 1.60%, while Energy down by 1.03% and Oil & Gas down by 1.03% were only losing indices on BSE. (Provisional)

The top gainers on the Sensex were Trent up by 7.83%, Axis Bank up by 3.81%, Titan Company up by 3.63%, Ultratech Cement up by 3.14% and Larsen & Toubro up by 3.12%. On the flip side, Reliance Industries down by 3.32% and HCL Technologies down by 0.20% were the only losers. (Provisional)

Meanwhile, India’s services sector witnessed slower expansion in the month of March 2026, rising at the softest pace in 14 months.  According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index slowed down to 57.5 in March from 58.1 in February. The HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also eased to 57.0 in March as against 58.9 in February.

The report further said that intakes of new work rose at the slowest pace since January 2025 at the end of the last fiscal quarter. Softer increases in sales were noted in three of the four broad areas of the service economy, namely Finance & Insurance, Real Estate & Business Services and Transport, Information & Communication. Overall growth in foreign sales neared a series peak. On the inflation front, input prices increased at the fastest pace in close to four years, while services firms transferred part of their additional cost burdens to clients, but they continued to absorb some of it. Out of the four broad areas of the service economy monitored by the survey, the quickest increases in input costs and output charges were seen in Consumer Services and Finance & Insurance respectively.

There was a third consecutive monthly increase in employment. Moreover, the pace of job creation was solid and the strongest since mid-2025. Besides, firms were at their most upbeat towards the outlook for output in close to 12 years, on hopes of an improvement in demand and market conditions. Advertising and better customer relations were also expected to bear fruit.

The CNX Nifty ended at 22968.25, up by 255.15 points or 1.12% after trading in a range of 22542.95 and 22998.35. There were 43 stocks advancing against 7 stocks declining on the index. (Provisional)

The top gainers on Nifty were Trent up by 7.87%, SBI Life Insurance up by 3.74%, Titan Company up by 3.59%, Axis Bank up by 3.55% and Shriram Finance up by 3.50%. On the flip side, Reliance Industries down by 3.39%, ONGC down by 2.04%, Max Healthcare Inst down by 1.23%, Eicher Motors down by 0.86% and JSW Steel down by 0.81% were the top losers. (Provisional)

Asian markets settled mostly higher in thin trade on Monday, as most regional markets remained closed for holidays. Chinese and Hong Kong markets were shut to celebrate the Qingming Festival, while Taiwan market also closed for the tomb-sweeping holiday. Investors turned cautiously optimistic on prospects for a Middle East ceasefire. The US, Iran, and a group of regional mediators are reportedly negotiating terms for a potential 45-day truce that could pave the way for a lasting resolution to the conflict, even as US President Donald Trump threatened to intensify military strikes on Iran if it did not make a deal and reopen the Strait of Hormuz by this Tuesday deadline. Japan’s Prime Minister Sanae Takaichi told lawmakers recently that Japan was releasing its reserves and was working on alternative routes. South Korea’s trade ministry said it plans to dispatch at least five ships to Saudi Arabi in the coming weeks to establish new oil transport routes in the Red Sea.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

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Hang Seng

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Jakarta Composite

6,989.43

-37.36

-0.53

KLSE Composite

1,680.83

-14.67

-0.87

Nikkei 225

53,413.68

290.19

0.55

Straits Times

4,972.40

24.90

0.50

KOSPI Composite

5,450.33

73.03

1.36

Taiwan Weighted

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