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Markets remain under pressure in late morning deals
Apr-09-2026

Indian equity markets remained under pressure in late morning deals on account of selling by funds and retail investors. Weak cues from other Asian markets and rising crude oil prices weighed on the domestic sentiments. Oil prices surged after Iran accused the United States of violating elements of a two-week ceasefire agreement, raising concerns that tensions could escalate again and disrupt energy supplies. Persistent foreign fund outflows also dented sentiment. According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 2,811.97 crore on Wednesday. On the BSE sectoral front, traders were seen pilling up positions in Capital Goods, Power, Metal, Utilities and Healthcare, while selling was witnessed in Bankex, TECK, IT, Oil & Gas and Consumer Durables. 

On the global front, Asian markets were trading mostly in red after Iran’s parliamentary speaker Mohammed Bagher Ghalibaf accused the U.S. of breaching the ceasefire deal. Ghalibaf said the violations highlighted were denial of the Islamic Republic’s right to enrich uranium and Israel’s continued attacks on Lebanon, a drone’s entry into Iranian airspace. Back home, Fertiliser industry related stocks were in focus after the government approved a Rs 41,534 crore subsidy for Phosphatic and Potassic (P&K) fertilizers for the upcoming 2025-26 kharif season, up by 12 per cent from the year-ago period.

The BSE Sensex is currently trading at 76994.03, down by 568.87 points or 0.73% after trading in a range of 76624.35 and 77429.33. There were 8 stocks advancing against 22 stocks declining on the index.

The top gaining sectoral indices on the BSE were Capital Goods up by 1.65%, Power up by 1.22%, Metal up by 1.03%, Utilities up by 0.89% and Healthcare up by 0.73%, while Bankex down by 0.70%, TECK down by 0.57%, IT down by 0.54%, Oil & Gas down by 0.49% and Consumer Durables down by 0.33% were the top losing indices on BSE.

The top gainers on the Sensex were NTPC up by 2.30%, Bharat Electronics up by 2.01%, Power Grid up by 1.37%, TCS up by 1.00% and Tata Steel up by 0.42%. On the flip side, Larsen & Toubro down by 2.18%, Interglobe Aviation down by 2.09%, Infosys down by 1.81%, HDFC Bank down by 1.56% and Eternal down by 1.21% were the top losers.

Meanwhile, the Reserve Bank of India (RBI) has underscored the improvement in asset quality of Indian scheduled commercial banks and said that their gross non-performing assets (NPAs) ratio has declined further to 2% in December 2025. Gross NPAs represent the proportion of loans unpaid for over 90 days. The Gross NPAs ratio of the banking system was at 2.5% during year ago period. RBI noted that the quality of assets has improved across sectors, including retail loans, services, industry, and agriculture. It said that the NPAs in retail loans eased to 1%, services to 1.7%, industry to 1.8%, and agriculture to 5.7% in December 2025. It added that NPAs have been improving for many quarters, reflecting sustained recoveries, upgrades, and write-offs.

Besides, RBI has indicated that the West Asia conflict and the supply chain disruptions are unlikely to pose any systemic concerns to the banks’ profitability and health. However, it flagged that there will be pockets and sectors that will be hit because of the conflict. 

It said that a robust credit growth has been recorded during H2FY26, owing to monetary policy easing and strong economic activity. Meanwhile, the central bank's report said the credit growth of scheduled commercial banks accelerated to 13.8% year-on-year as on March 15, 2026 from 11% a year ago. Across bank groups, credit growth of foreign banks remained the highest at 14.7% year-on-year, followed by public sector banks and private banks. It highlighted that the public sector banks accounted for the largest share of incremental credit year-on-year as on March 15, 2026.

The CNX Nifty is currently trading at 23855.25, down by 142.10 points or 0.59% after trading in a range of 23759.45 and 23990.75. There were 24 stocks advancing against 26 stocks declining on the index.

The top gainers on Nifty were Hindalco up by 3.07%, NTPC up by 2.27%, Bajaj Auto up by 1.91%, Bharat Electronics up by 1.81% and Dr. Reddy's Lab up by 1.44%. On the flip side, Larsen & Toubro down by 2.17%, Interglobe Aviation down by 2.07%, Infosys down by 1.90%, Shriram Finance down by 1.78% and HDFC Bank down by 1.56% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 258.42 points or 0.46% to 56,050.00, Jakarta Composite plunged 11.18 points or 0.15% to 7,268.03, Shanghai Composite weakened 26.5 points or 0.66% to 3,968.50, KOSPI dropped 97.15 points or 1.65% to 5,775.19, Hang Seng declined 18.02 points or 0.07% to 25,875.00, Straits Times fell 13.67 points or 0.27% to 4,982.38. However, Taiwan Weighted added 99.78 points or 0.29% to 34,861.16.
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