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Key gauges end higher; Nifty tops 23,100 mark
Apr-07-2026

Indian equity benchmarks erased all of their initial losses and ended higher on Tuesday, as a drop in crude oil prices and a rally in global markets calmed investors' sentiment. Also, buying in IT, TECK and Realty stocks aided recovery in the markets after early losses. However, some caution also prevailed ahead of the outcome of the RBI’s Monetary Policy Committee (MPC) meeting, which is scheduled to be announced on Wednesday.  

Some of the important factors in trade:

India’s fiscal strength supports growth and stability: Finance Minister Nirmala Sitharaman has said that strong fiscal discipline has given India enough flexibility to increase capital expenditure, support sectors affected by the West Asia crisis, and allow the Reserve Bank of India to consider further rate cuts. 

RBI keeps FPI investment limit in government securities unchanged for FY27: The Reserve Bank of India (RBI) has said that the limit for foreign portfolio investors (FPIs) investing in government securities through the general route will remain unchanged at 6 per cent of the outstanding stocks of securities for 2026-27. 

India’s GDP growth likely at 6.7% in FY27 despite geopolitical tensions: CareEdge Ratings in its report said that India’s economic growth is expected to remain resilient in the face of rising global uncertainties, with GDP projected to expand at 6.7 per cent in FY27. 

Power stocks remain in watch: The Ministry of New & Renewable Energy has said that India has achieved the highest-ever annual wind energy capacity addition of 6.05 gigawatt (GW) in the financial year 2025-26 (FY26), surpassing the previous record of 5.5 GW set in FY 2016-17. 

Global front: European markets were trading mostly in red on lingering concerns about the conflict in the Middle East. Asian markets settled mostly higher as investors indulged in some brisk buying ahead of U.S. President Donald Trump's deadline for Iran to make a deal to reopen the Strait of Hormuz.

Finally, the BSE Sensex rose 509.73 points or 0.69% to 74,616.58 and the CNX Nifty was up by 155.40 points or 0.68% to 23,123.65. 

The BSE Sensex touched high and low of 74,686.32 and 73,282.41, respectively. There were 20 stocks advancing against 10 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 2.37%, TECK up by 2.23%, Realty up by 1.70%, Metal up by 1.55% and Basic Materials up by 0.83%, while Consumer Durables down by 0.18% and Consumer Discretionary down by 0.08% were the few losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 2.77%, TCS up by 2.68%, Infosys up by 2.60%, Bharti Airtel up by 2.13% and Sun Pharma up by 1.67%. On the flip side, Interglobe Aviation down by 0.87%, Adani Ports &SEZ down by 0.52%, Mahindra & Mahindra down by 0.50%, Titan Company down by 0.31% and Trent down by 0.27% were the top losers.

Meanwhile, Finance Minister Nirmala Sitharaman has said that strong fiscal discipline has given India enough flexibility to increase capital expenditure, support sectors affected by the West Asia crisis, and allow the Reserve Bank of India to consider further rate cuts. She explained that sound public finance helps a country handle economic downturns better. While many nations with high debt struggle to act, India has enough fiscal space due to years of careful planning. This has enabled the government to cut fuel taxes and provide targeted relief to key sectors.

Observing that the current year is even more challenging than the previous one, she said ‘the escalation of Middle East conflict has evolved from a regional security concern into a systemic tremor threatening the vital arteries of global energy, and hardening the lines of a new, multipolar world order.’ Recalling various global events that shadowed 2025, she said the year was monumental in more ways than policymakers initially thought. She added ‘Trade fragmentation has introduced severe uncertainty into global supply chains. This led to sharp downward revisions in global growth forecasts, but the year ended more optimistically than previously perceived, particularly for India’.

Talking about India debt-to-GDP ratio, she said the country stands out as general government debt-to-GDP ratio (which includes States’ debt), at around 81 per cent, is the lowest among major economies after Germany. More importantly, she said India is the only major economy where the IMF projects this ratio to fall significantly - to 75.8 per cent by 2030 - while the debt outlook for the advanced economies such as US, China, Germany, and others is projected to worsen. She added ‘Our external debt-to-GDP ratio stands at just 19.1 per cent (as of September 2025) - one of the lowest in the emerging market world. India’s foreign exchange reserves, at over $688 billion (as of March 31, 2026), provide import cover of approximately 11 months - a substantial buffer’.

Recalling India’s ‘Fragile Five’ economy tag over a decade ago, she said India is now the fastest-growing major economy in the world. She said ‘We began with a fiscal deficit on an unsustainable trajectory. We have brought it to 4.4 per cent of GDP, en route toward 50 per cent debt-to-GDP by 2030-31. We began with a tax system built on suspicion. We have created one premised on trust’. She added the road to Viksit Bharat 2047 is long, and the challenges ahead - climate finance, subnational fiscal reform, debt management, the fiscal implications of demographic change, the public investment return challenge, technology-led disruptions - are formidable.

CNX Nifty touched high and low of 23,153.85 and 22,719.30, respectively. There were 35 stocks advancing against 15 stocks declining on the index.    

The top gainers on Nifty were Wipro up by 3.71%, Hindalco up by 2.97%, TCS up by 2.81%, HCL Technologies up by 2.65% and Infosys up by 2.59%. On the flip side, Dr. Reddy's Lab down by 1.63%, Interglobe Aviation down by 1.01%, Adani Enterprises down by 0.96%, Apollo Hospital down by 0.60% and Trent down by 0.49% were the top losers.  

European markets were trading mostly in red; UK’s FTSE 100 decreased 9.15 points or 0.09% to 10,427.14 and Germany’s DAX lost 27.18 points or 0.12% to 23,140.90, while France’s CAC rose 36.81 points or 0.46% to 7,999.20.

Asian markets settled mostly higher on Tuesday tracking Wall Street’s gains overnight and as major regional markets resumed trading after the long Easter and Qingming Festival break. Investors remain focused on a looming deadline from US President Donald Trump for Iran to reopen the Strait of Hormuz. Japanese Prime Minister Sanae Takaichi said that she is arranging urgent talks with Iranian President Masoud Pezeshkian and a separate call with US President Donald Trump to de-escalate the Middle East conflict. Chinese shares gained as investors looked ahead to key inflation data, scheduled for release later this week, with consumer price growth expected to ease slightly, while producer prices are forecast to record their first annual increase since 2022. Investors were also awaiting the latest Federal Open Market Committee minutes for further guidance on the central bank’s policy outlook. Meanwhile, Hong Kong market was closed on public holiday.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,890.17

10.07

0.26

Hang Seng

--

--

--

Jakarta Composite

6,971.03

-18.40

-0.26

KLSE Composite

1,676.86

-3.97

-0.24

Nikkei 225

53,429.56

15.88

0.03

Straits Times

4,958.01

-14.39

-0.29

KOSPI Composite

5,494.78

44.45

0.82

Taiwan Weighted

33,229.82

657.39

2.02
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