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Markets continue to trade in high spirit; RBI keeps repo rate unchanged at 5.25%
Apr-08-2026

Indian equity benchmarks continued to trade in high spirit in morning session, following a sharp rally in global peers and a significant drop in crude oil prices after the US and Iran announced a two-week ceasefire. Sentiments further improved after the RBI's Monetary Policy Committee decided to keep the benchmark policy repo rate unchanged at 5.25 per cent in the April monetary policy review, and retained its current policy neutral stance, amid hopes of a global recovery on the back of ceasefire in the six-week-long US/Israel-Iran conflict. Some support also came as India and New Zealand are likely to sign a Free Trade Agreement (FTA) on April 24, which will provide tariff-free access to domestic exporters for their goods in the island nation's market, and will bring in $20 billion of investment over the next 15 years. Sector-wise, auto stocks remained in watch as Federation of Automobile Dealers Associations said total electric vehicle retail sales in India grew by 24.6 per cent at 24.52 lakh units in FY26 as compared to the previous fiscal, with every category delivering strong double-digit growth. On the global front, Asian markets were trading higher after President Trump announced a cease-fire with Iran, buoying stocks and sending oil lower on hopes that an end to the conflict is in sight. 

The BSE Sensex is currently trading at 77238.78, up by 2622.20 points or 3.51% after trading in a range of 77042.15 and 77456.11. There were 26 stocks advancing against 4 stocks declining on the index.

The top gaining sectoral indices on the BSE were Realty up by 6.60%, Auto up by 6.55%, Consumer Disc up by 5.01%, Bankex up by 4.93% and Consumer Durables up by 4.66%, while IT down by 0.06% was the lone losing index on BSE.

The top gainers on the Sensex were Interglobe Aviation up by 8.82%, Mahindra & Mahindra up by 7.02%, Larsen & Toubro up by 6.93%, Maruti Suzuki up by 6.68% and Ultratech Cement up by 6.14%. On the flip side, Sun Pharma down by 1.75%, Tech Mahindra down by 1.38%, Infosys down by 0.53% and HCL Technologies down by 0.44% were the few losers.

Meanwhile, Indian Sugar & Bio-Energy Manufacturers Association (ISMA) has said that India’s sugar demand is expected to decline by 4 lakh tonnes during the March-April period, mainly because of short supply of commercial LPG and rainfall in some parts of the country. ISMA Director General Deepak Ballani has said the total domestic demand of sugar is estimated at 281 lakh tonnes in the 2025-26 marketing year (October- September).

He said that the total demand for the first five months of this marketing year rose by 60,000 tonnes compared to the corresponding period of 2024-25. He noted ‘The dispatch of sugar from mills last month declined by around 2 lakh tonnes mainly because of supply issues in commercial LPG.’ Moreover, he said demand is likely to drop by 2 lakh tonnes even during this month because of rainfall in many parts of the country, as well as the LPG issue. 

Further, he stated the total demand in this marketing year is expected to decline to at least 277 lakh tonnes from an estimated 281 lakh tonnes, leading to higher closing stock of sugar at the end of September. On exports, he said country is expected to ship 7.5-8 lakh tonnes of sugar in the 2025-26 marketing year, lower than the nearly 16 lakh tonnes permitted by the food ministry. Besides, he noted that total production is expected to reach approximately 285 lakh tonnes after diversion of 35 lakh tonnes for ethanol making.

The CNX Nifty is currently trading at 23892.75, up by 769.10 points or 3.33% after trading in a range of 23828.50 and 23961.25. There were 41 stocks advancing against 9 stocks declining on the index.

The top gainers on Nifty were Shriram Finance up by 9.04%, Interglobe Aviation up by 8.93%, Tata Motors Passenger up by 8.08%, Mahindra & Mahindra up by 6.96% and Larsen & Toubro up by 6.84%. On the flip side, ONGC down by 3.05%, Coal India down by 2.48%, Sun Pharma down by 1.72%, Tech Mahindra down by 1.29% and Wipro down by 0.74% were the top losers.

All Asian markets were trading higher; Nikkei 225 surged 2833.44 points or 5.3% to 56,263.00, Taiwan Weighted added 1454.18 points or 4.38% to 34,684.00, Jakarta Composite gained 237.84 points or 3.41% to 7,208.87, Shanghai Composite strengthened 79.32 points or 2.04% to 3,969.48, KOSPI increased 405.49 points or 7.38% to 5,900.27, Hang Seng advanced 767.47 points or 2.97% to 25,884.00 and Straits Times rose 34.42 points or 0.69% to 4,992.43. 
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