Domestic equity indices continued to witness bloodbath and were trading lower with cut of over 1.25 percent in late morning deals as US-Iran ceasefire talks in Islamabad concluded without an agreement. Further, rising crude oil prices and weak cues from other Asian markets hit investors’ sentiments. Crude oil prices rose as US President Donald Trump said that the American Navy from now on will block any and all ships entering the Strait of Hormuz and would also ⁠interdict ⁠every vessel ⁠in ‌international waters that ‌had paid a ‌toll to Iran. Besides, a depreciating rupee, which slipped 54 paise to trade at 93.37 against the US dollar, made traders the more nervous. Meanwhile, India VIX spiked sharply to the 20.65 level, up by more than 9.50 per cent, indicating heightened volatility and caution in the near term. 

On the global front, Asian markets were trading mostly in red after the U.S. and Iran failed to reach a peace deal at their historic 21-hour talks in Pakistan, leaving the fate of a tenuous two-week ceasefire in doubt, with both sides attempting to hold each other responsible for the collapse of the negotiations. Back home, on the BSE sectoral front, traders were seen pilling up positions in Utilities, Power, Telecom and Capital Goods, while selling was witnessed in Auto, Bankex, Energy, Oil & Gas and IT. 

The BSE Sensex is currently trading at 76518.95, down by 1031.30 points or 1.33% after trading in a range of 75868.32 and 76559.82. There were 3 stocks advancing against 27 stocks declining on the index.

The top gaining sectoral indices on the BSE were Utilities up by 1.42%, Power up by 1.06%, Telecom up by 0.35% and Capital Goods up by 0.03%, while Auto down by 1.77%, Bankex down by 1.65%, Energy down by 1.28%, Oil & Gas down by 1.27% and IT down by 1.08% were the top losing indices on BSE.

The few gainers on the Sensex were NTPC up by 1.03%, Bharti Airtel up by 0.12% and Eternal up by 0.05%. On the flip side, Maruti Suzuki down by 4.03%, Interglobe Aviation down by 2.77%, HDFC Bank down by 2.61%, Bajaj Finance down by 2.35% and SBI down by 2.22% were the top losers.

Meanwhile, with an aim of preventing exporters from taking undue advantage due to price differences, the government has hiked the export duty, or windfall tax, on diesel to Rs 55.5 per litre. It has also increased the export duty on aviation fuel Aviation Turbine Fuel (ATF) to Rs 42 a litre. These duty hikes would be applicable with immediate effect. Earlier, the government had imposed an export duty of Rs 21.50 a litre on diesel, and Rs 29.5 per litre on ATF on March 26, 2026. Meanwhile, export duty on petrol continues to remain nil.

The duties were levied to increase domestic availability of the fuel amid West Asia conflict. The United States and Israel launched military strikes against Iran on February 28, 2026, triggering sweeping retaliation from Tehran and disrupting the global energy market. However, Iran, the United States and Israel agreed on a two-week ceasefire in the war on April 8, 2026.

Earlier, the Finance ministry had cut excise duty on petrol to Rs 3 a litre, from Rs 13 a litre earlier, while the levy on diesel had been slashed to nil from Rs 10 earlier, offering relief to oil marketing companies (OMCs) from a sharp spike in global crude oil prices triggered by the ongoing geopolitical conflict in the West Asia.

The CNX Nifty is currently trading at 23743.40, down by 307.20 points or 1.28% after trading in a range of 23555.60 and 23762.75. There were 6 stocks advancing against 44 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 2.92%, HDFC Life up by 2.21%, NTPC up by 1.10%, Tata MotorsPassenger up by 0.69% and Apollo Hospital up by 0.61%. On the flip side, Eicher Motors down by 4.22%, Maruti Suzuki down by 4.00%, Interglobe Aviation down by 2.75%, Shriram Finance down by 2.67% and HDFC Bank down by 2.57% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 433.11 points or 0.76% to 56,491.00, Taiwan Weighted lost 31.67 points or 0.09% to 35,386.16, KOSPI dropped 50.17 points or 0.86% to 5,808.70, Hang Seng declined 246.54 points or 0.95% to 25,647.00 and Straits Times fell 22.4 points or 0.45% to 4,967.01. However, Jakarta Composite gained 34.23 points or 0.46% to 7,492.73 and Shanghai Composite strengthened 0.52 points or 0.01% to 3,986.74.