Indian equity benchmarks made gap-up opening on Wednesday tracking rally in Asian counterparts as crude oil prices dropped below $95 after the US and Iran agreed to a two-week ceasefire. According to reports, Iran agreed to allow safe navigation through the Strait of Hormuz during the ceasefire. Sensex and Nifty were trading firm with gains of over 3.50% each in early deals on account of value buying in all the sector indices. Interglobe Aviation was leading the gainers with gains of around 10%. Traders now eyeing the RBI's Monetary Policy Committee (MPC) outcome. The RBI MPC is likely to keep the repo rate unchanged at 5.25%. Investors took note of Crisil Ratings’ statement that bank credit is poised to grow around 13% this fiscal, driven by healthy growth in the micro, small and medium enterprise (MSME) and retail sectors.

The BSE Sensex is currently trading at 77444.87, up by 2828.29 points or 3.79% after trading in a range of 77042.15 and 77446.76. There were 29 stocks advancing against 1 stock declining on the index.

The top gaining sectoral indices on the BSE were Realty up by 6.70%, Auto up by 6.11%, Consumer Discretionary up by 4.90%, Bankex up by 4.90% and Consumer Durables up by 4.44%, while there was no loser on the BSE sectoral front.

The top gainers on the Sensex were Interglobe Aviation up by 9.83%, Larsen & Toubro up by 7.28%, Adani Ports & SEZ up by 7.18%, Bajaj Finance up by 6.45% and Mahindra & Mahindra up by 6.44%. On the flip side, Tech Mahindra down by 1.03% was the sole loser.

Meanwhile, with an aim to accelerate India’s global trade engagements, India and New Zealand are reportedly set to sign a Free Trade Agreement (FTA) on April 24, 2026 at Bharat Mandapam. The agreement is likely to grant tariff-free access to domestic exporters in the island nation’s market and attract investments worth $20 billion over the next 15 years. The two countries had announced the conclusion of negotiations on December 22, 2025, with the aim of doubling bilateral trade to $5 billion within five years. 

After the trade deal, India will get zero-duty market access on 100% of its exports. The agreement will eliminate or reduce tariffs on 95% of New Zealand's exports to India, including items ranging from wool, coal, wood, wine, to avocados and blueberries. However, New Delhi has made no duty concessions on allowing imports of dairy like milk, cream, whey, yoghurt, and cheese; onions, sugar, spices, edible oils and rubber to protect farmers and domestic industry.

Under the pact, New Zealand will also get duty-free access to goods such as sheep meat, wool, coal and over 95 per cent of forestry and wood articles. As regards the services sector, New Zealand will give a temporary employment entry visa pathway for Indian professionals in skilled occupations with a quota of 5,000 visas annually and a stay of up to three years. 

This pathway covers Indian professions such as AYUSH practitioners, yoga instructors, Indian chefs, and music teachers, as well as high-demand sectors including IT, engineering, healthcare, education, and construction, strengthening workforce mobility and services trade. Bilateral merchandise trade stood at $1.3 billion in 2024-25. The total trade in goods and services reached about $2.4 billion in 2024, with services trade alone reaching $1.24 billion, led by travel, IT, and business services.

The CNX Nifty is currently trading at 23940.95, up by 817.30 points or 3.53% after trading in a range of 23828.50 and 23961.10. There were 45 stocks advancing against 5 stocks declining on the index.

The top gainers on Nifty were Interglobe Aviation up by 9.70%, Shriram Finance up by 7.45%, Adani Ports & SEZ up by 7.11%, Larsen & Toubro up by 6.91% and Tata Motors Passenger Vehicles up by 6.71%. On the flip side, Coal India down by 2.70%, ONGC down by 2.63%, Tech Mahindra down by 1.07%, Wipro down by 0.29% and Hindalco down by 0.25% were the top losers.

All Asian markets were trading higher; Nikkei 225 surged 2772.44 points or 5.19% to 56,202.00, Taiwan Weighted jumped 1398.81 points or 4.21% to 34,628.63, Hang Seng rose 767.47 points or 2.97% to 25,884.00, KOSPI gained 376.17 points or 6.85% to 5,870.95, Jakarta Composite strengthened 197.36 points or 2.83% to 7,168.39, Shanghai Composite added 74.56 points or 1.92% to 3,964.72 and Straits Times was up by 34.17 points or 0.69% to 4,992.18.