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Markets pare some gains in late trade
Apr-10-2026

Benchmarks pared some gains in late afternoon session as traders took a cautious approach after the Brent crude oil prices surged to trade near the $100 a barrel mark. However, markets continued to trade higher as market participants were hopeful that the negotiations between Iran and the US, scheduled later in the day, will end the conflict in West Asia. Market sentiment also remained upbeat as the World Bank said that the country is well prepared to handle the current global energy crisis. It highlighted that India has strong protection measures like high foreign exchange reserves, enough fiscal space, and low inflation, which will help maintain growth even during global challenges.

On the global front, all Asian and European markets equity were trading higher amid hopes of de-escalation of West Asia conflict. 

The BSE Sensex is currently trading at 77267.13, up by 635.48 points or 0.83% after trading in a range of 76851.16 and 77547.89. There were 24 stocks advancing against 6 stocks declining on the index.

The top gaining sectoral indices on the BSE were Auto up by 2.35%, Consumer Durables up by 2.11%, Capital Goods up by 1.91%, Consumer Discretionary up by 1.88% and Industrials up by 1.84%, while IT down by 2.09% and TECK down by 1.52% were the top losing indices on BSE.

The top gainers on the Sensex were Asian Paints up by 4.23%, ICICI Bank up by 2.77%, Mahindra & Mahindra up by 2.47%, SBI up by 2.28% and Axis Bank up by 2.02%. On the flip side, Sun Pharmaceutical Industries down by 3.81%, Infosys down by 3.12%, TCS down by 2.78%, Tech Mahindra down by 1.83% and HCL Technologies down by 1.64% were the top losers.

Meanwhile, despite a worsening global economic and geopolitical environment, Asian Development Bank (ADB), in its Asian Development Outlook report, has said that India's Gross Domestic Product (GDP) growth is projected to grow by 6.9 per cent in the current fiscal (FY27), and rise to 7.3 per cent in the following fiscal (FY28). It said growth will be underpinned by strong domestic demand, easing financing conditions and lower US tariffs on Indian goods. However, it warned that prolonged geopolitical tensions in West Asia could undermine India's macroeconomic performance through multiple channels. These include higher energy prices, disruptions to trade flows, and weaker remittance inflows given the region's continued importance for India's external sector. 

ADB said India's real GDP growth for FY26 is estimated at 7.6 per cent, higher than the 7.1 per cent recorded in FY25, supported by resilient household consumption due to cut in income tax, GST, and falling food prices, besides steady public investment. It projected that retail inflation in India will more than double to 4.5% in FY27 from 2.1% in FY26 due to a rebound in food prices from earlier declines, higher global oil prices, currency weakness, and rising precious metal prices. It said Inflation is projected to ease back to 4% in FY28 on account of lower oil prices. 

It said although rising inflation, especially food and petroleum products, may temper private consumption in the current fiscal, GDP growth in next fiscal would see marked improvement as domestic demand strengthens due to hikes in salaries/pensions of government employees and an uptick in investment benefitting from key regulatory reforms. It said external demand is expected to strengthen as the benefits from the trade deal with the European Union (EU) boosts exports.

The CNX Nifty is currently trading at 23962.85, up by 187.75 points or 0.79% after trading in a range of 23856.35 and 24048.20. There were 39 stocks advancing against 11 stocks declining on the index.

The top gainers on Nifty were Asian Paints up by 4.21%, Eicher Motors up by 3.53%, Shriram Finance up by 2.68%, Bajaj Auto up by 2.68% and ICICI Bank up by 2.61%. On the flip side, Coal India down by 4.13%, Sun Pharmaceutical Industries down by 3.80%, Infosys down by 3.25%, TCS down by 2.89% and Tech Mahindra down by 1.84% were the top losers.

All Asian markets equity were trading higher; Nikkei 225 surged 1056.68 points or 1.86% to 56,952.00, Taiwan Weighted added 556.67 points or 1.57% to 35,417.83, Jakarta Composite gained 143.54 points or 1.93% to 7,451.13, Shanghai Composite strengthened 20.05 points or 0.5% to 3,986.22, Straits Times rose 7.63 points or 0.15% to 4,984.71, KOSPI increased 80.86 points or 1.38% to 5,858.87 and Hang Seng advanced 147.6 points or 0.57% to 25,900.00.

All European markets equity were trading higher; UK’s FTSE 100 increased 16.67 points or 0.16% to 10,620.15, France’s CAC rose 4.6 points or 0.06% to 8,250.40 and Germany’s DAX gained 9.51 points or 0.04% to 23,816.50.
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