Benchmarks entered into green terrain and magnify their gains to trade around a percent higher in late afternoon session amid hopes of de-escalation in West Asia conflict. The market participants showed optimism over a cease fire between US and Iran after reports indicated that US and Iran have received proposal to end ongoing hostilities, including the reopening of the Strait of Hormuz. Meanwhile, traders paid no heed towards cut in India's economic growth estimates for the current fiscal (FY27) by Moody's Ratings. It has cut India's economic growth estimates for FY27 to 6% from an earlier 6.8%, noting that ongoing conflict in West Asia will moderate growth momentum and raise inflation risks. 

On the global front, Asian equity markets were trading mixed as investors raised concerns over impact of high energy prices on Inflation and economic growth.

The BSE Sensex is currently trading at 73974.68, up by 655.13 points or 0.89% after trading in a range of 72728.66 and 74010.22. There were 28 stocks advancing against 2 stocks declining on the index.

The top gaining sectoral indices on the BSE were Consumer Durables up by 2.20%, Utilities up by 2.00%, Realty up by 1.77%, Bankex up by 1.70% and Consumer Discretionary up by 1.49%, while Oil & Gas down by 1.07% and Energy down by 1.05% were the only losing indices on BSE.

The top gainers on the Sensex were Trent up by 7.71%, Axis Bank up by 3.77%, Titan Company up by 3.74%, Larsen & Toubro up by 3.10% and Bajaj Finance up by 2.97%. On the flip side, Reliance Industries down by 3.47% and Sun Pharmaceutical Industries down by 0.34% were the top losers.

Meanwhile, India’s services sector witnessed slower expansion in the month of March 2026, rising at the softest pace in 14 months.  According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index slowed down to 57.5 in March from 58.1 in February. The HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also eased to 57.0 in March as against 58.9 in February.

The report further said that intakes of new work rose at the slowest pace since January 2025 at the end of the last fiscal quarter. Softer increases in sales were noted in three of the four broad areas of the service economy, namely Finance & Insurance, Real Estate & Business Services and Transport, Information & Communication. Overall growth in foreign sales neared a series peak. 

On the inflation front, input prices increased at the fastest pace in close to four years, while services firms transferred part of their additional cost burdens to clients, but they continued to absorb some of it. Out of the four broad areas of the service economy monitored by the survey, the quickest increases in input costs and output charges were seen in Consumer Services and Finance & Insurance respectively.

There was a third consecutive monthly increase in employment. Moreover, the pace of job creation was solid and the strongest since mid-2025. Besides, firms were at their most upbeat towards the outlook for output in close to 12 years, on hopes of an improvement in demand and market conditions. Advertising and better customer relations were also expected to bear fruit.

The CNX Nifty is currently trading at 22922.25, up by 209.15 points or 0.92% after trading in a range of 22542.95 and 22929.70. There were 43 stocks advancing against 7 stocks declining on the index.

The top gainers on Nifty were Trent up by 7.71%, SBI Life Insurance Company up by 3.81%, Shriram Finance up by 3.79%, Axis Bank up by 3.79% and Titan Company up by 3.64%. On the flip side, Reliance Industries down by 3.52%, ONGC down by 1.85%, Max Healthcare Inst down by 1.36%, JSW Steel down by 0.77% and Eicher Motors down by 0.68% were the top losers.

Asian equity markets were trading mixed; Nikkei 225 surged 436.51 points or 0.81% to 53,560.00, KOSPI increased 73.03 points or 1.34% to 5,450.33, Straits Times rose 24.2 points or 0.49% to 4,971.70, while Jakarta Composite plunged 45.68 points or 0.65% to 6,981.10. Meanwhile, China, Taiwan and Hong Kong markets were close on account of holiday.