Indian equity markets added more gains in late afternoon session tracking positive cues from their European pears. European equity markets were trading higher after reports indicated that Iran has proposed to reopen the Strait of Hormuz and ending the war. Meanwhile, Asian equity markets were trading mixed as upbeat Chinese data and investor enthusiasm around artificial intelligence offset concerns over rising crude oil prices. Back home, market breath remained positive amid solid buying in heavy weights like Reliance Industries, Sun Pharmaceutical Industries and HDFC Bank. Some support came as India and New Zealand are all set to sign a free trade agreement (FTA). The agreement is aimed at boosting two-way commerce in goods and services and promote investments. 

The BSE Sensex is currently trading at 77272.57, up by 608.36 points or 0.79% after trading in a range of 76754.20 and 77420.04. There were 25 stocks advancing against 5 stocks declining on the index.

The top gaining sectoral indices on the BSE were Healthcare up by 2.48%, Utilities up by 2.35%, Realty up by 2.26%, IT up by 2.21% and Power up by 2.01%. Meanwhile, there were no losers on BSE sectoral front.  

The top gainers on the Sensex were Sun Pharmaceutical Industries up by 6.86%, Adani Ports & SEZ up by 2.63%, Tech Mahindra up by 2.61%, Mahindra & Mahindra up by 2.22% and Reliance Industries up by 2.08%. On the flip side, Axis Bank down by 3.15%, Bharat Electronics down by 1.98%, ICICI Bank down by 0.84%, Eternal down by 0.70% and Trent down by 0.60% were the top losers.

Meanwhile, Crisil Ratings in its latest report has projected that India’s commercial vehicle (CV) industry is set to hit a record high volume of around 12.4 lakh units in FY2027, exceeding its previous high recorded in fiscal 2019. However, industry is likely to experience slower growth of 5-6% this fiscal, a notable moderation after the sharp 13% surge recorded in fiscal 2026.

The rating agency further noted that domestic demand will remain supportive, on the back of infrastructure-led activity, steady replacement demand, and continued benefits from improved affordability following rationalisation of Goods and Services Tax (GST) rates last year. Exports, however, could see some near-term disruptions due to the ongoing developments in West Asia.

According to the report, fiscal 2026 marked a strong domestic recovery, driven by several factors. The GST rate cut from 28% to 18% in September 2025 significantly improved purchase economics, unlocking deferred demand. Additionally, easing interest rates, improving freight utilisation, and a pickup in infrastructure and mining activity reinforced the recovery.

The CNX Nifty is currently trading at 24083.50, up by 185.55 points or 0.78% after trading in a range of 23936.20 and 24129.55. There were 42 stocks advancing against 8 stocks declining on the index.

The top gainers on Nifty were Sun Pharmaceutical Industries up by 6.92%, Tech Mahindra up by 2.76%, Adani Ports & SEZ up by 2.69%, Wipro up by 2.52% and SBI Life Insurance Company up by 2.29%. On the flip side, Shriram Finance down by 3.70%, Axis Bank down by 3.13%, Bharat Electronics down by 2.00%, Tata Consumer Products down by 1.04% and Coal India down by 0.83% were the top losers.

Asian equity markets were trading mixed; Nikkei 225 surged 713.82 points or 1.18% to 60,430.00, Taiwan Weighted added 684.23 points or 1.73% to 39,616.63, KOSPI increased 139.40 points or 2.11% to 6,615.03 and Shanghai Composite strengthened 6.44 points or 0.16% to 4,086.34, while Hang Seng declined 16.07 points or 0.06% to 25,962.00, Jakarta Composite plunged 3.47 points or 0.05% to 7,126.02 and Straits Times fell 28.92 points or 0.59% to 4,893.94.

European equity markets were trading higher; UK’s FTSE 100 increased 5.98 points or 0.06% to 10,385.06, France’s CAC rose 28.98 points or 0.36% to 8,186.80, Germany’s DAX gained 88.32 points or 0.37% to 24,217.30.