HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Bourses trade in green during early afternoon session
Mar-16-2026

Indian markets traded in green during early afternoon session following mixed cues from other Asian markets. Some buying in Metal sector’s stocks helped markets to trade in green. Traders took note of report that Fitch Ratings in its Global Economic Outlook- March 2026 has raised India’s Gross Domestic Product (GDP) growth forecast marginally to 7.5 per cent for current fiscal year 2025-26 (FY26) from 7.4 per cent projected earlier in December 2025 despite the ongoing conflict between Iran-US and Israel. Sector wise, Gem and Jewellery sector remained in limelight as GJEPC in its data has showed that India's gems and jewellery exports grew 3.86 per cent year-on-year to $2,680.79 million (Rs 24,340.05 crore) in February 2026 as compared to $2,581.08 million (Rs 22,460.13 crore) during the corresponding month of 2025. On the global front, Asian markets were trading mixed amid an escalating U.S.-Iran conflict. Investors continued to assess the potential impact of global energy disruptions. 

The BSE Sensex is currently trading at 74704.47, up by 140.55 points or 0.19% after trading in a range of 73949.76 and 74983.29. There were 14 stocks advancing against 16 stocks declining on the index.

The top gaining sectoral indices on the BSE were Metal up by 0.37%, Basic Materials up by 0.27%, FMCG up by 0.18% and Auto was up by 0.06%, while Oil & Gas down by 2.63%, Realty down by 2.33%, Energy down by 1.85%, Capital Goods down by 1.67% and PSU was down by 1.50% were the top losing indices on BSE.

The top gainers on the Sensex were Ultratech Cement up by 3.63%, HDFC Bank up by 1.95%, Bajaj Finance up by 1.51%, Interglobe Aviation up by 0.93% and Tata Steel up by 0.90%. On the flip side, Bharat Electronics down by 3.40%, Infosys down by 1.48%, NTPC down by 1.44%, Power Grid down by 1.43% and Sun Pharma down by 1.39% were the top losers.

Meanwhile, the Aluminium Association of India (AAI), in its representation to the Directorate General of Foreign Trade (DGFT), has urged the government to remove aluminium exports from the recent 50% cut in Remission of Duties and Taxes on Exported Products (RoDTEP) norms. It argued that the government has removed the agricultural products from this 50% cut. Besides, AAI requested the government to fix RoDTEP rates for 2026-27 based on the actual taxes exporters bear, so that aluminium exporters (both regular units and SEZ units) are fairly compensated for the taxes embedded in their products.

Launched in 2021, export support scheme, RoDTEP provides for a refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods, and are not being reimbursed under any other mechanism at the Centre, state or local level. Thus, the aluminium exports were eligible for RoDTEP benefits of around 3% for Domestic Tariff Area (DTA) units and around 2.2% for SEZ units. However, the government recently issued a notification cutting RoDTEP rates across sectors by half with immediate effect.

Moreover, the industry body noted that India's aluminium exports, valued at around $7 billion and accounting for nearly 2% of the country's total goods exports, are facing increasing pressure in global markets due to rising trade barriers. It pointed that the sector is facing double challenge; export opportunities are shrinking as several countries impose higher tariffs and regulations, while aluminium imports into India are rising sharply. It also highlighted that the industry had already submitted detailed data to the government committee responsible for recommending RoDTEP rates. Based on these submissions, the actual unrebated taxes on aluminium exports are estimated at around 8-9% of the export value for DTA units and 6-7% for SEZ units.

The CNX Nifty is currently trading at 23191.90, up by 40.80 points or 0.18% after trading in a range of 22955.25 and 23284.65. There were 23 stocks advancing against 27 stocks declining on the index.

The top gainers on Nifty were Ultratech Cement up by 3.61%, Hindalco up by 3.14%, Grasim Industries up by 2.71%, JSW Steel up by 2.05% and HDFC Bank up by 1.95%. On the flip side, Bharat Electronics down by 3.17%, Wipro down by 1.79%, Power Grid down by 1.56%, Dr. Reddy's Lab down by 1.51% and Infosys down by 1.47% were the top losers.

Asian markets were trading mixed; Nikkei 225 slipped 113.61 points or 0.21% to 53,706.00, Jakarta Composite plunged 92.72 points or 1.3% to 7,044.49, Taiwan Weighted lost 57.81 points or 0.17% to 33,342.51 and Shanghai Composite was down by 10.66 points or 0.26% to 4,084.79. On the flip side, Straits Times rose 23.48 points or 0.48% to 4,865.75, KOSPI increased 62.61 points or 1.13% to 5,549.85 and Hang Seng was up by 374.4 points or 1.47% to 25,840.00.
  RELATED NEWS >>
Most Viewed >>
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.