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Bourses continue gaining momentum in early afternoon session
Apr-08-2026

Indian markets continued their gaining momentum in early afternoon session buoyed by improved global sentiment after easing US-Iran tensions. There were no losing sectoral indices on the BSE. Traders took note of rating agency -- Crisil Ratings' report stating that bank credit is likely to grow by around 13% in this fiscal (FY27), driven by healthy growth in the micro, small and medium enterprise (MSME) and retail sectors, as well as the continued preference of corporates for bank credit rather than issuance of bonds amid the prevailing interest rate differential. Meanwhile, Reserve Bank of India (RBI) has increased FY26 real GDP growth projection to 7.6% from 7.4%. Besides, real GDP growth for FY27 projected at 6.9%. On inflation front, it projected FY27 CPI at 4.6%. All Asian markets were trading higher after the U.S. and Iran agreed to a two-week ceasefire and Iran also agreed to temporarily reopen the Strait of Hormuz. 

The BSE Sensex is currently trading at 77459.31, up by 2842.73 points or 3.81% after trading in a range of 77042.15 and 77605.40. There were 28 stocks advancing against 2 stocks declining on the index.

The top gaining sectoral indices on the BSE were Realty up by 7.04%, Auto up by 6.67%, Consumer discretionary up by 5.29%, Bankex up by 5.20% and Consumer Durables was up by 4.91%, while there were no losing sectoral indices on the BSE. 

The top gainers on the Sensex were Interglobe Aviation up by 9.83%, Larsen & Toubro up by 7.86%, Bajaj Finance up by 7.30%, Maruti Suzuki up by 7.06% and Mahindra & Mahindra up by 7.02%. On the flip side, Tech Mahindra down by 1.27% and Sun Pharma down by 0.71% were the top losers.

Meanwhile, amid rising global uncertainties, the Reserve Bank of India (RBI) has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.25 per cent and also decided to continue with the neutral stance in its latest Monetary Policy Committee (MPC) meeting. Consequently, the standing deposit facility (SDF) rate remains at 5.00 per cent and the marginal standing facility (MSF) rate and the Bank Rate remains at 5.50 per cent.

On the inflation front, CPI inflation for 2026-27 is projected to be at 4.6 per cent with Q1 at 4.0 per cent; Q2 at 4.4 per cent; Q3 at 5.2 per cent; and Q4 at 4.7 per cent. As per the RBI, persistently elevated energy prices due to the West Asia conflict and possible El Nino conditions (which could have a negative impact on southwest monsoon) pose upside risks to inflation. Core inflation is projected at 4.4 per cent for 2026-27 and, excluding precious metals, it is even lower indicating that underlying inflation pressures are expected to remain contained.

On the economy front, real gross domestic product (GDP) growth for 2026-27 is projected at 6.9 per cent, with Q1 at 6.8 per cent; Q2 at 6.7 per cent; Q3 at 7.0 per cent; and Q4 at 7.2 per cent. Further escalation of the conflict, its continuation over a wider geographical spread and uncertainty regarding the damage to the energy infrastructure, apart from weather related events, pose downside risks to the domestic growth outlook.

RBI further said that elevated energy and other commodity prices coupled with supply shock due to disruptions in the Strait of Hormuz would act as a drag on domestic production in 2026-27. Heightened volatility in global financial markets with its spillover on domestic financial conditions would weigh on growth prospects. On the external front, merchandise exports may be adversely impacted from disruptions to key shipping routes and the concomitant rise in freight and insurance costs in case the conflict is long-drawn.

The CNX Nifty is currently trading at 23971.05, up by 847.40 points or 3.66% after trading in a range of 23828.50 and 24014.00. There were 42 stocks advancing against 8 stocks declining on the index.

The top gainers on Nifty were Shriram Finance up by 10.16%, Interglobe Aviation up by 9.82%, Adani Enterprises up by 8.16%, Tata Motors Passenger up by 7.94% and Larsen & Toubro up by 7.74%. On the flip side, Coal India down by 3.10%, ONGC down by 1.76%, Tech Mahindra down by 1.26%, Nestle down by 0.80% and Sun Pharma down by 0.64% were the top losers.

All Asian markets were trading higher; Nikkei 225 surged 3014.44 points or 5.34% to 56,444.00, Taiwan Weighted added 1531.56 points or 4.41% to 34,761.38, Hang Seng advanced 798.47 points or 3.18% to 25,915.00, KOSPI increased 377.56 points or 6.43% to 5,872.34, Jakarta Composite gained 247.46 points or 3.55% to 7,218.49, Shanghai Composite strengthened 104.84 points or 2.7% to 3,995.00 and Straits Times was up by 51.3 points or 1.03% to 5,009.31.
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