Indian equity benchmarks ended higher by over half percent on Wednesday, supported by bargain hunting in FMCG, Realty and TECK stocks amid earnings optimism and a rally in Asian markets. Signs of potential de-escalation in geopolitical tensions also helped equity markets. Also, investors were awaiting cues from the upcoming US Federal Reserve policy decision.  

Some of the important factors in trade: 

India-New Zealand FTA set to double India’s engineering exports over next 5 years: After India and New Zealand signed a free trade agreement (FTA), Pankaj Chadha, Chairman of EEPC India, has said that India’s engineering exports to New Zealand are poised to double over the next five years, from $140.5 in 2025-26 million to $280-300 million, as the FTA provides zero-duty market access for all Indian goods.

Goyal to visit Canada in May to accelerate negotiations for proposed FTA: Commerce and Industry Minister Piyush Goyal has said that he will visit Canada in May to accelerate negotiations for a proposed free trade agreement (FTA). On March 2, the two countries launched negotiations for a comprehensive economic partnership agreement (CEPA).

India strengthening position as competitive maritime nation: 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. 

Power stocks remain in watch: Amidst early summer heat, India witnessed an all-time highest peak electricity demand of 256.1 GW on April 25, 2026, surpassing the previous all-time high of 250 GW recorded on May 30, 2024. This record-breaking demand was met completely without any shortage, supported by record capacity addition of around 65 GW during FY 2025-26. 

Global front: European markets were trading lower as traders awaited monetary policy announcements from the Federal Reserve due later in the day, and the European Central Bank and the Bank of England tomorrow. Asian markets settled mostly higher after reports suggested that Iran will likely file a revised proposal for ending the war to Pakistani mediators in the coming days. 

Finally, the BSE Sensex rose 609.45 points or 0.79% to 77,496.36 and the CNX Nifty was up by 181.95 points or 0.76% to 24,177.65.      

The BSE Sensex touched high and low of 77,982.51 and 77,136.20, respectively. There were 22 stocks advancing against 8 stocks declining on the index.  

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.

The top gainers on the Sensex were ITC up by 3.86%, Tech Mahindra up by 3.14%, Maruti Suzuki up by 2.82%, Reliance Industries up by 2.68% and Bharti Airtel up by 2.30%. On the flip side, Interglobe Aviation down by 2.36%, NTPC down by 1.33%, Bajaj Finserv down by 0.85%, ICICI Bank down by 0.83% and Asian Paints down by 0.62% were the top losers.

Meanwhile, after India and New Zealand signed a free trade agreement (FTA), Pankaj Chadha, Chairman of the Engineering Export Promotion Council of India (EEPC India), has said that India’s engineering exports to New Zealand are poised to double over the next five years, from $140.5 in 2025-26 million to $280-300 million, as the FTA provides zero-duty market access for all Indian goods. He emphasized that the agreement would offer a significant boost to the sector, particularly for MSMEs, by reducing trade barriers and ensuring stable market access in a relatively small yet high-potential market.

The FTA with New Zealand comes as part of India’s broader strategy to expand its engineering exports through trade agreements. Existing FTAs with Australia and the United Arab Emirates have already opened new opportunities, while proposed deals with the European Union and the United States are expected to further accelerate growth. With the engineering sector aiming for $250 billion in exports by 2030, such agreements are seen as a key lever to scale operations and diversify markets.

Engineering shipments to New Zealand have already shown steady growth, rising around 8% to $140.5 million in 2025-26, up from $129.8 million in the previous fiscal year. The expansion has been driven by automobiles, dairy, machinery and medical and scientific instruments, while metal-based products such as iron and steel, aluminium, and zinc have also made meaningful contributions.

CNX Nifty touched high and low of 24,334.70 and 24,059.95, respectively. There were 35 stocks advancing against 15 stocks declining on the index.   

The top gainers on Nifty were ITC up by 3.79%, Tech Mahindra up by 3.31%, Reliance Industries up by 2.96%, Coal India up by 2.93% and Maruti Suzuki up by 2.89%. On the flip side, Interglobe Aviation down by 2.31%, Dr. Reddy's Lab down by 1.99%, NTPC down by 1.66%, Bajaj Finserv down by 1.02% and ICICI Bank down by 0.97% were the top losers.   

European markets were trading lower; UK’s FTSE 100 decreased 84.92 points or 0.82% to 10,247.87, France’s CAC fell 41.49 points or 0.51% to 8,062.60 and Germany’s DAX lost 54.06 points or 0.23% to 23,964.20.

Asian markets settled mostly higher on Wednesday after reports suggested that Iran will likely file a revised proposal for ending the war to Pakistani mediators in the coming days. The revised proposal is expected to cover all key issues, with reopening the Strait of Hormuz and the unfreezing of Iranian assets likely to be in focus in the initial phase. Investors were awaiting the Federal Reserve’s rate decision as well as earnings releases from some of the most valuable tech companies in the US. Seoul market closed at a fresh peak amid investors bet chip demand will remain solid, despite concerns over the artificial intelligence boom. However, some gains were limited by elevated crude oil prices that fuelled concerns about global inflation and the outlook for interest rates. Japanese stock market was closed for the Showa Day national holiday.