Indian markets traded at day’s low levels in early afternoon session as traders preferred to sell their riskier stocks. Traders were worried with surging oil prices and continued foreign fund outflows. Investors overlooked the report that Commerce and Industry Minister Piyush Goyal held discussions with exporters and representatives of industry associations on ways to boost the country's shipments and enhance utilisation of free trade pacts. The minister told them that the government is committed to resolving their issues which the industry is facing due to global uncertainties. Meanwhile, with an aim to strengthen India’s global economic partnerships, India and New Zealand have inked a free trade agreement (FTA) at Bharat Mandapam, New Delhi. 

On the global front, Asian markets were trading mostly in red as Bank of Japan left its key interest rate unchanged and upgraded its inflation outlook citing higher global crude oil prices. The policy board voted 6-3 majority to hold the uncollateralized overnight call rate at around 0.75 percent.

The BSE Sensex is currently trading at 76961.90, down by 341.73 points or 0.44% after trading in a range of 76921.89 and 77493.53. There were 10 stocks advancing against 20 stocks declining on the index.

The top gaining sectoral indices on the BSE were Telecom up by 1.37%, Energy up by 1.28%, Oil & Gas up by 0.99%, Metal up by 0.75% and Utilities was up by 0.51%, while Bankex down by 1.11%, Auto down by 0.73%, Consumer Disc down by 0.63%, IT down by 0.50% and Realty was down by 0.26% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 1.22%, Sun Pharma up by 1.05%, Reliance Industries up by 0.92%, Bharti Airtel up by 0.68% and Kotak Mahindra Bank up by 0.64%. On the flip side, Eternal down by 3.95%, Axis Bank down by 2.20%, HCL Tech down by 1.83%, Interglobe Aviation down by 1.77% and SBI down by 1.49% were the top losers.

Meanwhile, post signing of India - New Zealand free trade pact, the Commerce and Industry Minister Piyush Goyal held discussions with exporters and representatives of industry associations on ways to boost the country's shipments and enhance utilisation of free trade agreements (FTAs). During the meeting, Federation of Indian Export Organisations (FIEO) flagged issues such as extension of validity of authorisations up to August 31, 2026, in line with the extension already granted for export obligation fulfilment. FIEO pointed that the ongoing logistics disruptions have impacted exports as well as imports, thereby affecting the ability of exporters to utilise authorisations within the prescribed timelines.

Further, FIEO noted that several key sectors which are significantly impacted by US tariff actions, are not included in the trade relief measures announced by the Reserve Bank of India (RBI) covering 20 out of 98 Harmonised System (HS) chapters. Besides, the benefit under the RELIEF Scheme of ECGC is presently linked to realisation. However, given the prevailing uncertainties and delays in payments arising from the situation in the Middle East, realisation timelines are likely to be extended.

In March 2026, the country’s merchandise exports have dropped 7.44% to $38.92 billion, the steepest fall in five months, owed to trade uncertainty and geopolitical tensions, with shipments to West Asia contracting by more than 50%. However, the trade deficit narrowed to a nine-month low of $20.67 billion in March on account of lower imports. For the full 2025-26 fiscal year, exports grew 0.93% to an all-time high of $441.78 billion, while imports rose 7.45% to $775 billion. The trade deficit ballooned to $333.2 billion due to a jump in gold and silver imports during the last fiscal year.

The CNX Nifty is currently trading at 24012.45, down by 80.25 points or 0.33% after trading in a range of 23999.25 and 24181.80. There were 18 stocks advancing against 32 stocks declining on the index.

The top gainers on Nifty were ONGC up by 4.13%, Coal India up by 3.16%, Adani Enterprises up by 2.29%, Grasim Industries up by 1.60% and Nestle up by 1.45%. On the flip side, Eternal down by 3.98%, Axis Bank down by 2.30%, Shriram Finance down by 2.04%, Interglobe Aviation down by 1.92% and HCL Tech down by 1.90% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 696.36 points or 1.16% to 59,841.00, Hang Seng declined 245.65 points or 0.95% to 25,680.00, Taiwan Weighted lost 94.9 points or 0.24% to 39,521.73, Jakarta Composite plunged 47.83 points or 0.67% to 7,058.69, Shanghai Composite weakened 7.7 points or 0.19% to 4,078.64 and Straits Times was down by 4.07 points or 0.08% to 4,888.66. On the flip side, KOSPI was up by 25.99 points or 0.39% to 6,641.02.