Indian equity benchmarks ended higher on Wednesday ahead of the upcoming US Federal Reserve policy decision. Indices made a positive start and traded higher the session, supported by buying in fundamentally strong stocks. However, in late afternoon session, markets trimmed some gains but remained well above neutral lines. Some cautiousness came due to persistent foreign fund outflows and delays in reopening the Strait of Hormuz.

Some of the important factors in trade:

India-New Zealand FTA set to double India’s engineering exports over next 5 years: Sentiments remained up-beat with industry body EEPC India's Chairman Pankaj Chadha stating that India's engineering exports to New Zealand are poised to double over the next five years from $140.5 million to $280-300 million as the FTA with New Zealand provides zero-duty market access for all Indian goods.

Goyal to visit Canada in May to accelerate negotiations for proposed FTA: Some support also came as Commerce and Industry Minister Piyush Goyal stated that he will visit Canada next month to speed up negotiations for the proposed free trade agreement (FTA). On March 2, India and Canada launched negotiations for the agreement with an aim to finalise the pact soon.

Industrial output growth slows to 5-month low of 4.1% in March: Traders overlooked report that India's industrial production growth slowed down to a 5-month low of 4.1 per cent in March, mainly due to subdued performance of manufacturing and power sector amid the West Asia crisis. 

On the global front: European markets were trading in the red after reports indicated that US President Donald Trump asked aides to prepare for an extended blockade of Iran. Asian markets closed mostly higher as investors awaited cues from big tech earnings and Jerome Powell's final FOMC meeting as Fed chair.

The BSE Sensex ended at 77496.36, up by 609.45 points or 0.79% after trading in a range of 77136.20 and 77982.51. There were 22 stocks advancing against 8 stocks declining on the index. (Provisional)

The top gaining sectoral indices on the BSE were FMCG up by 1.57%, Realty up by 1.42%, TECK up by 1.34%, Telecom up by 1.28% and Energy up by 1.14%, while Utilities down by 1.22%, Power down by 1.05%, Consumer Durables down by 0.43%, PSU down by 0.31%, and Bankex down by 0.07% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were ITC up by 3.79%, Tech Mahindra up by 3.14%, Reliance Industries up by 3.06%, Maruti Suzuki up by 2.82% and Bharti Airtel up by 2.14%. On the flip side, Interglobe Aviation down by 2.36%, NTPC down by 1.37%, Bajaj Finserv down by 1.03%, Asian Paints down by 0.84% and ICICI Bank down by 0.83% were the top losers. (Provisional) 

Meanwhile, the shipping Secretary Vijay Kumar has said that India is strengthening its position as competitive maritime nation, driven by policy reforms, infrastructure expansion, and increased private sector engagement. He also underscored the significant transformation of India's maritime sector in recent years, marked by improved port performance, enhanced global rankings, and growing integration with international trade networks.

The secretary was addressing the Ministry of Ports, Shipping and Waterways (MoPSW) National Consultative Workshop with Coastal States and Union Territories in New Delhi. The workshop served as a collaborative platform to align national priorities with state-level initiatives, with a focus on accelerating port-led development, strengthening logistics efficiency, and advancing digital and sustainable maritime practices. 

The secretary noted that India's port capacity and operational capabilities are set to expand significantly over the coming decades, supported by ongoing investments, mechanisation, and port-led industrialisation initiatives. He also pointed to the government's focused push on shipbuilding as a strategic priority to enhance India's position in the global maritime value chain. 

The CNX Nifty ended at 24177.65, up by 181.95 points or 0.76% after trading in a range of 24059.95 and 24334.70. There were 35 stocks advancing against 15 stocks declining on the index. (Provisional)

The top gainers on Nifty were ITC up by 3.88%, Tech Mahindra up by 3.30%, Coal India up by 2.93%, Maruti Suzuki up by 2.83% and Reliance Industries up by 2.63%. On the flip side, Interglobe Aviation down by 2.19%, Dr. Reddy's Lab down by 1.83%, NTPC down by 1.36%, ICICI Bank down by 1.01% and Bajaj Finserv down by 0.96% were the top losers. (Provisional)

European markets were trading lower; UK’s FTSE 100 decreased 80.09 points or 0.78% to 10,252.70, France’s CAC fell 48.49 points or 0.6% to 8,055.60 and Germany’s DAX lost 84.26 points or 0.35% to 23,934.00.