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Indices continue to post solid gains in late morning deals
Apr-08-2026

Domestic equity indices continued to witness solid gains and were trading higher by over 3.70 percent in late morning deals as market participants indulged in enlarging their positions. Hectic buying in Interglobe Aviation, Bajaj Finance, Larsen & Toubro, Maruti Suzuki and Ultratech Cement companies’ stocks helped both the Sensex the Nifty to trade above their crucial 77,400 and 23,950 levels. Falling crude oil prices supported domestic sentiments. Crude oil prices fell after President Donald Trump agreed to suspend attacks on Iran for two weeks in exchange for Tehran allowing safe passage through the Strait of Hormuz. Meanwhile, Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) decided to keep policy rate unchanged at 5.25 per cent.  

On the global front, Asian markets were trading higher after the United States and Iran said they have agreed to a two-week ceasefire in the war. Back home, all the sectoral indices on the BSE were trading in green led by Realty, Auto, Bankex, Consumer Disc and Consumer Durables.

The BSE Sensex is currently trading at 77489.76, up by 2873.18 points or 3.85% after trading in a range of 77042.15 and 77605.40. There were 27 stocks advancing against 3 stocks declining on the index.

The top gaining sectoral indices on the BSE were Realty up by 6.74%, Auto up by 6.72%, Bankex up by 5.27%, Consumer Disc up by 5.24% and Consumer Durables up by 4.84%, while there were no losers. 

The top gainers on the Sensex were Interglobe Aviation up by 10.01%, Bajaj Finance up by 7.38%, Larsen & Toubro up by 7.20%, Maruti Suzuki up by 7.07% and Ultratech Cement up by 7.04%. On the flip side, Tech Mahindra down by 1.38%, Sun Pharma down by 1.03% and Infosys down by 0.23% were the few losers.

Meanwhile, the rating agency -- Crisil Ratings has said 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. It noted that the increased working capital intensity of India Inc is likely to support the bank credit growth, even as a revival in capital expenditure (capex) of the private sector could be delayed.

However, it said the growth will be marginally slower than the estimate of about 14% for FY26. It noted that tailwinds from the regulatory and government measures announced in FY26 should sustain and support growth, but the extent of benefit will taper over time and the impact will be seen across sub-segments -- corporate, MSME and retail.

It pointed that the ongoing West Asia conflict would have a dual impact on wholesale credit growth. It said that the associated uncertainties could weigh on a broad-based revival in private sector capex, while the supply-chain disruptions and higher input prices would increase demand for working capital debt in the short term. Further, inflationary pressures from a prolonged West Asia conflict and the resultant higher interest rates could weigh on retail consumption demand. Meanwhile, it said bank credit growth to corporate sector, which accounts for about 36% of domestic bank credit, to grow by 9-10% in FY27, in line with around 10% in FY26. MSME segment, which accounts for around 19% of domestic bank credit, is likely to remain the fastest growing portfolio for the banking sector in FY27. Although, the growth will moderate in from the 24-25% level seen in FY26 as the country’s economic growth tempers.  

It said the retail loan segments which accounts for about 33% of domestic bank credit, is estimated to grow by around 14% in FY27. While this will be lower than the second half of FY26, which benefitted from the immediate impact of regulatory stimuli such as softer interest rates and tax reliefs, it will be only a marginal moderation compared with FY26 overall. It noted that the banks continue to be well-positioned in-home loans, their largest business segment. They will continue to gain share in the prime segment given competitive pricing. Besides, growth in auto loans, which, too, hastened after the rationalisation of the goods and services tax last fiscal, should sustain, while unsecured loans could see moderately higher growth in FY27 as asset quality of newer originations has improved.

The CNX Nifty is currently trading at 23982.75, up by 859.10 points or 3.72% 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 10.99%, Adani Enterprises up by 9.24%, Interglobe Aviation up by 9.06%, Tata MotorsPassenger up by 8.13% and Bajaj Finance up by 7.41%. On the flip side, Coal India down by 2.84%, ONGC down by 2.01%, Tech Mahindra down by 1.36%, Sun Pharma down by 0.99% and Wipro down by 0.64% were the top losers.

All Asian markets were trading higher; Nikkei 225 surged 3014.44 points or 5.64% to 56,444.00, Taiwan Weighted added 1531.56 points or 4.41% to 34,761.38, Jakarta Composite gained 236.13 points or 3.28% to 7,207.16, Shanghai Composite strengthened 99.34 points or 2.55% to 3,989.50, KOSPI increased 384.48 points or 7% to 5,879.26, Hang Seng advanced 799.47 points or 3.18% to 25,916.00 and Straits Times rose 46.79 points or 0.94% to 5,004.80.
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