Indian equity indices maintained their gains and were trading higher by over half percent in late morning deals as market participants picked up stocks at relatively reduced levels after the recent sell-off. Positive cues from the global markets supported domestic sentiments. The sentiments were further supported by Indian rupee appreciating 43 paise to 91.61 against the dollar at the Interbank Foreign Exchange on selling of the US currency by exporters and banks. On the BSE sectoral front, traders were seen piling up positions in Metal, Utilities, Energy, Power and Oil & Gas, while selling was witnessed in IT, TECK, FMCG and Consumer Durables. 

On the global front, Asian markets were trading in green following positive cues from the US markets overnight. South Korea’s Kospi jumped over 10% on Thursday, staging a sharp rebound from its worst session on Wednesday. Back home, in the stock specific development, Great Eastern Shipping Company surged as the company has contracted to buy a secondhand Kamsarmax Dry Bulk Carrier of about 81,094 dwt on March 4, 2026.

The BSE Sensex is currently trading at 79574.37, up by 458.18 points or 0.58% after trading in a range of 79217.14 and 79680.66. There were 18 stocks advancing against 12 stocks declining on the index.

The top gaining sectoral indices on the BSE were Metal up by 2.86%, Utilities up by 1.98%, Energy up by 1.95%, Power up by 1.69% and Oil & Gas up by 1.63%, while IT down by 1.25%, TECK down by 0.58%, FMCG down by 0.35% and Consumer Durables down by 0.01% were the top losing indices on BSE.

The top gainers on the Sensex were Bharat Electronics up by 3.63%, NTPC up by 3.05%, Reliance Industries up by 2.74%, Tata Steel up by 2.21% and Larsen & Toubro up by 2.09%. On the flip side, Eternal down by 2.56%, HCL Technologies down by 2.06%, Tech Mahindra down by 1.47%, TCS down by 1.39% and Hindustan Unilever down by 1.29% were the top losers.

Meanwhile, rating agency ICRA in its latest report has said that the revenues of the Indian hospitality industry are likely to grow by 9-12 per cent in the current fiscal year (FY26) despite the high base of FY25. The rating agency attributed the growth in the revenue to steady domestic leisure travel, Meetings, Incentives, Conferences, and Exhibitions (MICE) activity, weddings and resilient corporate demand.  

According to the report, pan-India premium hotel occupancy is estimated at 72-74 per cent in FY26, slightly higher than the 71-73 per cent recorded in the first 11 months of FY26. The Average room rates (ARRs) for premium hotels are projected to rise to Rs 8,200-8,500 per night in FY26, after a healthy Rs 8,000- 8,200 in FY25, reflecting sustained demand and strong pricing power. Premium room inventory across 12 key cities is expected to grow annually at 5-6 per cent over FY25-FY26, trailing the estimated demand growth of 8-9 per cent. The demand-supply imbalance is likely to persist over the next 2-3 years, supporting occupancy levels and rate growth. 

The report highlighted that demand drivers have diversified materially and now span corporate travel, weddings and social events, MICE activities, concerts, sports events, religious tourism and leisure-led travel to tier II and III cities. This diversification has reduced the sector's vulnerability to global and cyclical shocks. Hotel companies are increasingly adopting asset-light expansion models through management contracts and franchise arrangements. These models generate fee-based income with lower capital intensity, improve return on capital employed and support stronger free cash flow generation.

The CNX Nifty is currently trading at 24634.65, up by 154.15 points or 0.63% after trading in a range of 24530.05 and 24672.80. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were Hindalco up by 6.21%, Coal India up by 3.62%, Bharat Electronics up by 3.55%, NTPC up by 3.03% and ONGC up by 2.92%. On the flip side, Eternal down by 2.55%, HCL Technologies down by 2.12%, Tech Mahindra down by 1.55%, TCS down by 1.44% and Hindustan Unilever down by 1.30% were the top losers.

All Asian markets were trading higher; Nikkei 225 surged 1212.46 points or 2.24% to 55,458.00, Taiwan Weighted added 873.08 points or 2.59% to 33,701.96, Jakarta Composite gained 126.73 points or 1.65% to 7,703.79, Shanghai Composite strengthened 34.24 points or 0.83% to 4,116.71, KOSPI increased 583.80 points or 10.28% to 5,677.34, Hang Seng advanced 169.52 points or 0.67% to 25,419.00 and Straits Times rose 39.57 points or 0.82% to 4,852.32.