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Key gauges continue to trade lower in morning deals
Apr-06-2026

Indian equity benchmarks continued to trade lower in morning deals, as crude oil prices climbed amid fears of further escalation in the West Asia the war. Relentless foreign fund outflows also dented markets' sentiment. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,931.13 crore on Thursday, according to exchange data. Traders remained cautious as report showed India’s services sector growth slowed to a 14-month low in March even as cost pressures rose sharply, with firms reporting the fastest increase in input prices in nearly four years. The HSBC India Services PMI Business Activity Index fell to 57.5 in March from 58.1 in February, marking the weakest expansion in 14 months, though it remained above the long-run average of 54.4. Some concern also came as Commerce Secretary Rajesh Agrawal stated that India’s exports to global markets could be affected if the West Asia conflict continues. On the global front, Asian markets were trading mostly higher even as oil prices extended their gains after US President Donald Trump signaled a likely sharp escalation in the Iran war.  

The BSE Sensex is currently trading at 73036.17, down by 283.38 points or 0.39% after trading in a range of 72790.49 and 73588.75. There were 15 stocks advancing against 15 stocks declining on the index.

The top gaining sectoral indices on the BSE were Realty up by 0.67%, Consumer Durables up by 0.61%, Utilities up by 0.57%, Consumer Discretionary up by 0.50% and IT up by 0.45%, while Oil & Gas down by 1.50%, Energy down by 1.20%, Healthcare down by 0.87%, FMCG down by 0.27% and Auto down by 0.08% were the top losing indices on BSE.

The top gainers on the Sensex were Trent up by 6.21%, Titan Company up by 1.82%, Axis Bank up by 1.03%, Ultratech Cement up by 0.87% and Infosys up by 0.83%. On the flip side, Reliance Industries down by 3.10%, Kotak Mahindra Bank down by 1.79%, Sun Pharma down by 1.63%, Maruti Suzuki down by 1.40% and Adani Ports &SEZ down by 1.36% were the top losers.

Meanwhile, Moody's Ratings in its credit opinion report on India has cut India's economic growth estimates for the current fiscal (FY27) to 6% from an earlier 6.8%, noting that ongoing conflict in West Asia will moderate growth momentum and raise inflation risks. It said that extended disruptions particularly LPG shipments on account of the conflict would lead to near-term household shortages, increase fuel and transportation costs, and spillovers to food inflation through India’s reliance on imported fertilisers. 

The region accounts for around 55% of crude oil imports and over 90% of liquified petroleum gas (LPG) supplies to India. While inflation remains contained for now, Moody’s stated that geopolitical tensions have shifted the outlook upward, forecasting an average inflation rate of 4.8% in FY27, up from 2.4% in FY26.

With inflation risks re-emerging and growth remaining robust, Moody’s said that policy rates are likely to stay steady or to increase gradually in fiscal 2026-27, depending on the duration of geopolitical tensions and their pass-through to food and fuel prices.

The CNX Nifty is currently trading at 22653.50, down by 59.60 points or 0.26% after trading in a range of 22561.90 and 22798.25. There were 24 stocks advancing against 26 stocks declining on the index.

The top gainers on Nifty were Trent up by 6.29%, Coal India up by 2.17%, Titan Company up by 2.07%, Shriram Finance up by 1.76% and Hindalco up by 1.52%. On the flip side, Reliance Industries down by 3.08%, Max Healthcare Inst down by 1.73%, Sun Pharma down by 1.64%, Kotak Mahindra Bank down by 1.56% and Cipla down by 1.50% were the top losers.

Asian markets were trading mostly higher; Nikkei 225 surged 697.51 points or 1.31% to 53,821.00, KOSPI increased 67.34 points or 1.25% to 5,444.64 and Straits Times rose 19.32 points or 0.39% to 4,966.82, while Jakarta Composite plunged 55.77 points or 0.79% to 6,971.01. 
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