Indian equity benchmarks continued to trade in green in morning deals, supported by fresh foreign fund inflows. Foreign Institutional Investors (FIIs) bought equities worth Rs 382.36 crore on Thursday, according to exchange data. Besides, temporary ceasefire between Israel and Lebanon has added to markets' optimism, with expectations that this could pave the way for renewed US-Iran negotiations. Traders took support with the report said India and New Zealand will sign a free trade agreement (FTA) on April 27. The free trade pact aims to provide tariff-free access to the island nation's market for domestic exporters' goods and will bring in $20 billion in investment over the next 15 years. However, gains remain capped as some concern came with Global Trade Research Initiative (GTRI) stating that the European Union’s (EU) plan to significantly expand its Carbon Border Adjustment Mechanism (CBAM) is likely to raise carbon tax costs on Indian manufactured exports to Europe. On the global front, Asian markets were trading mostly in red as traders remained cautiously optimistic on hopes for an end to hostilities in the Middle East. Concerns remain about the fragility of any settlement as Tehran seems to be adamant with their nuclear program.

The BSE Sensex is currently trading at 78219.38, up by 230.70 points or 0.30% after trading in a range of 77726.23 and 78358.14. There were 19 stocks advancing against 11 stocks declining on the index.

The top gaining sectoral indices on the BSE were FMCG up by 2.22%, Capital Goods up by 1.37%, Industrials up by 0.97%, Power up by 0.90% and Energy up by 0.68%, while Consumer Durables down by 0.39%, TECK down by 0.22% and IT down by 0.12% were the losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 3.81%, Maruti Suzuki up by 1.92%, Trent up by 1.69%, Adani Ports &SEZ up by 1.65% and ITC up by 1.57%. On the flip side, Titan Company down by 1.74%, HCL Technologies down by 1.15%, Eternal down by 0.53%, ICICI Bank down by 0.48% and Sun Pharma down by 0.24% were the top losers.

Meanwhile, the Steel Ministry has said that India and Russia conducted a roundtable discussion to strengthen cooperation in the steel industry amid worldwide supply chain challenges. The Ministry stated the meeting enabled constructive engagement and the sharing of perspectives key steel sector issues, including raw material procurement, technology collaboration, equipment manufacturing, and research opportunities. 

It stated during their discussions, both sides discussed various aspects of bilateral cooperation and assessed the ongoing interactions between the countries. Discussions were held on broad areas concerning the steel sector and related industries, with a focus on advancing cooperative initiatives.

It said the discussions also enabled both sides to gain a better understanding of each other's perspectives and explore possibilities for continued engagement in the sector. Moreover, it said ‘The discussions were held in a cordial and constructive atmosphere, reflecting the longstanding partnership between India and the Russian Federation. Both sides expressed their intent to continue engagement and further strengthen cooperation in the steel sector.’

The CNX Nifty is currently trading at 24252.85, up by 56.10 points or 0.23% after trading in a range of 24096.05 and 24304.55. There were 34 stocks advancing against 15 stocks declining, while 1 stock remain unchanged on the index.

The top gainers on Nifty were Hindustan Unilever up by 3.82%, Tata Consumer Product up by 1.85%, Maruti Suzuki up by 1.74%, Trent up by 1.65% and ITC up by 1.58%. On the flip side, HDFC Life Insurance down by 3.10%, Wipro down by 2.64%, Titan Company down by 2.15%, HCL Technologies down by 1.13% and Hindalco down by 1.01% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 526.34 points or 0.88% to 58,992.00, Taiwan Weighted lost 315.67 points or 0.85% to 36,816.35, Shanghai Composite weakened 11.6 points or 0.29% to 4,043.95, KOSPI dropped 27.87 points or 0.45% to 6,198.18, Hang Seng declined 303.26 points or 1.15% to 26,091.00 and Straits Times fell 14.09 points or 0.28% to 4,993.74, while Jakarta Composite gained 15.51 points or 0.2% to 7,636.89.