Indian equity benchmarks made a cautious start on Monday as investors remained cautious amid rising crude oil prices and renewed geopolitical tensions in the Middle East. Crude oil prices surged above $95 per barrel, after witnessing a sharp fall on Friday, as Iran reimposed controls over the Strait of Hormuz. Sensex and Nifty were trading flat in early deals as selling Realty, Metal and Auto stocks weighted on sentiments, while buying in Power, Utilities and Bankex stocks supported the markets. Downside remained capped amid foreign fund inflows. According to exchange data, foreign institutional investors (FIIs) bought shares worth Rs 683.20 crore on Friday. Traders also closely monitor the latest round of US-Iran talks scheduled for later in the day.  

On the global front, Asian markets were trading higher, tracking cues from the strong closing of US markets on Friday despite a volatile geopolitical situation in West Asia. Back home, in stock specific development, ICICI Bank traded higher on strong quarterly results. Bank reported better-than-expected profits for the March quarter, helped by steady loan growth.

The BSE Sensex is currently trading at 78507.44, up by 13.90 points or 0.02% after trading in a range of 78203.30 and 78733.25. There were 10 stocks advancing against 20 stocks declining on the index.

The top gaining sectoral indices on the BSE were Power up by 0.64%, Utilities up by 0.57%, Bankex up by 0.41%, PSU up by 0.21% and Capital Goods up by 0.11%, while Realty down by 1.27%, Metal down by 0.86%, Auto down by 0.74%, Basic Materials down by 0.73% and Consumer Discretionary down by 0.69% were the top losing indices on BSE.

The top gainers on the Sensex were SBI up by 2.30%, ICICI Bank up by 1.87%, Trent up by 1.12%, Axis Bank up by 0.89% and NTPC up by 0.77%. On the flip side, Eternal down by 1.19%, HDFC Bank down by 1.02%, Tata Steel down by 0.87%, Interglobe Aviation down by 0.75% and Mahindra & Mahindra down by 0.73% were the top losers.

Meanwhile, with a focus on trade, investment and sectoral cooperation, India and Norway have reaffirmed their commitment to strengthening bilateral economic ties. The third Session of the India-Norway Dialogue on Trade and Investment (DTI) was held in New Delhi on April 16, 2026. The discussions assumed significance as they marked the first such engagement after the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA) in October 2025. Both sides underscored the agreement’s role in advancing economic cooperation and unlocking new opportunities for businesses in both countries. The dialogue reaffirmed India’s intent to build a future-oriented partnership with Norway, anchored in innovation, sustainability and shared economic growth, while deepening engagement with the broader EFTA bloc. The two countries agreed on the need to build resilient supply chains, enhance energy security, and promote stronger economic linkages.

Trade between India and Norway has shown steady growth in recent years. India’s exports to Norway increased from around $270 million in 2014 to $439 million in 2025, while services exports reached $876 million in 2024, reflecting the expanding scope of the partnership. A key highlight of the dialogue was the emphasis on leveraging TEPA to expand market access and encourage investment flows. The agreement provides duty-free access for a range of agricultural and allied products, opening new avenues for farmers, MSMEs, women entrepreneurs and innovation-driven businesses to integrate into global value chains.

Both sides also discussed early gains from the agreement’s implementation and identified areas requiring attention, including tariff benefits, regulatory frameworks, certification processes and compliance costs. They agreed to address these challenges through continued consultations and mutually agreed mechanisms. Sectoral cooperation emerged as a major focus area, with discussions spanning energy, renewable technologies, green hydrogen, maritime collaboration, pharmaceuticals, biotechnology, tourism, skill development and digitalisation. Opportunities in sustainable shipping, offshore technologies and low-carbon solutions were also explored.

Norway highlighted growing investor interest in India, including through sovereign and development funds, particularly in renewable energy projects. India, on its part, pointed to institutional support mechanisms such as the establishment of an EFTA Desk under Invest India to facilitate business engagement. Looking ahead, both countries agreed to intensify high-level exchanges, industry interactions and business missions. They also decided to hold regular quarterly consultations to address trade-related issues and further strengthen cooperation.

The CNX Nifty is currently trading at 24343.30, down by 10.25 points or 0.04% after trading in a range of 24241.25 and 24420.20. There were 12 stocks advancing against 38 stocks declining on the index.

The top gainers on Nifty were SBI up by 2.32%, ICICI Bank up by 1.90%, Trent up by 0.82%, Axis Bank up by 0.78% and Adani Ports & SEZ up by 0.47%. On the flip side, JIO Financial Services down by 3.55%, Tata Motors Passenger Vehicles down by 1.89%, Hindalco down by 1.83%, HDFC Life Insurance down by 1.78% and Interglobe Aviation down by 1.20% were the top losers.

All Asian markets were trading higher; Nikkei 225 surged 528.1 points or 0.9% to 59,004.00, Taiwan Weighted jumped 524.75 points or 1.43% to 37,329.09, Hang Seng rose 272.67 points or 1.03% to 26,433.00, KOSPI strengthened 67.91 points or 1.1% to 6,259.83, Shanghai Composite increased 26.96 points or 0.67% to 4,078.39, Straits Times added 8.04 points or 0.16% to 5,005.97 and Jakarta Composite was up by 4.55 points or 0.06% to 7,638.55.