Indian markets remained weak with notable losses in early afternoon session amid heavy selling pressure in IT sector’s stocks. Markets were also pressured by foreign fund outflows and fears of extended instability in West Asia. Traders overlooked the report that the government has extended interest subvention benefits to micro and small enterprises involved in the export of 167 specific categories of iron and steel products, aiming to support the trading community. However, medium-sized enterprises are not eligible for this measure. Further, India and South Korea are all set to strengthen bilateral cooperation in the MSME sector, as a Memorandum of Understanding (MoU) was signed between the Ministry of Micro, Small and Medium Enterprises and South Korea’s Ministry of SMEs and Startups on April 20, 2026.  On the global front, Asian markets were trading mixed amid uncertainty over US–Iran peace talks. U.S. Vice President JD Vance canceled his visit to Islamabad after Tehran refused to hold talks through Pakistan.

The BSE Sensex is currently trading at 78594.80, down by 678.53 points or 0.86% after trading in a range of 78442.30 and 79031.03. There were 9 stocks advancing against 21 stocks declining on the index.

The top gaining sectoral indices on the BSE were Utilities up by 2.09%, Power up by 1.96%, FMCG up by 1.53%, Capital Goods up by 1.21% and Realty was up by 0.99%, while IT down by 4.51%, TECK down by 3.47%, Telecom down by 0.21% and Bankex was down by 0.13% were the few losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 4.11%, NTPC up by 2.49%, Reliance Industries up by 0.63%, Trent up by 0.60% and Axis Bank up by 0.57%. On the flip side, HCL Tech down by 10.86%, Tech Mahindra down by 6.15%, Infosys down by 4.30%, TCS down by 3.80% and Mahindra & Mahindra down by 1.49% were the top losers.

Meanwhile, Road Transport and Highways Minister Nitin Gadkari has said that India must aim to achieve 100 per cent ethanol blending for use as auto fuel in the near future, as global energy disruptions amid ongoing West Asia conflict have made it essential for the country to become self-reliant in the energy sector. 

The minister noted that India relies heavily on imports to meet about 87% of its crude oil requirements. He said India spends around Rs 22 lakh crore on fossil fuel imports, which also contributes to pollution. Therefore, he stressed the need to expand production of biofuels and other alternative energy sources. Noting that green hydrogen is the fuel of the future, he said there is a need to reduce the cost of running a hydrogen fuel station to make it financially viable. He said ‘transport of hydrogen fuel is a problem. Also, we need to produce 1 kg of hydrogen at $1 dollar, to make India an exporter of energy.’  

He further said that there is a need to produce hydrogen from waste. While observing that there is a need to discourage the use of petrol and diesel vehicles, he said ‘but we cannot force people to stop buying petrol and diesel vehicles.’ Addressing concerns about E20 fuel, he said the petroleum sector is lobbying against this move. He also urged automobile manufacturers to prioritise quality over cost, as it would help them penetrate new markets. He added that the Corporate Average Fuel Efficiency III standards, due to take effect from 1 April next year, would have limited bearing on electric and flex-fuel vehicles.

The CNX Nifty is currently trading at 24405.85, down by 170.75 points or 0.69% after trading in a range of 24352.90 and 24515.95. There were 18 stocks advancing against 31 stocks declining on the index, while 1 stock remained unchanged. 

The top gainers on Nifty were Tata Consumer up by 4.10%, Hindustan Unilever up by 3.89%, Tata Motors Passenger up by 2.70%, NTPC up by 2.47% and Nestle up by 2.36%. On the flip side, HCL Tech down by 10.85%, Tech Mahindra down by 6.18%, Infosys down by 4.24%, TCS down by 3.80% and JSW Steel down by 1.53% were the top losers.

Asian markets were trading mixed; Taiwan Weighted added 273.36 points or 0.72% to 37,878.47, Nikkei 225 surged 176.83 points or 0.3% to 59,526.00, KOSPI increased 29.46 points or 0.46% to 6,417.93 and Shanghai Composite was up by 21.18 points or 0.52% to 4,106.26. On the flip side, Jakarta Composite plunged 15.2 points or 0.2% to 7,544.18, Straits Times fell 16.8 points or 0.33% to 4,998.16 and Hang Seng 240.48 points or 0.91% to 26,247.00.