Indian equity benchmarks made a cautious start on Wednesday as renewed hostilities between the US and Iran dampened hopes for a ceasefire in the vicinity, keeping global markets on edge. Though, soon markets gained traction and were trading higher with notable gains of around half a percent each in early deals supported by gains in Reliance Industries shares, banking stocks and select FMCG counters. Some support came as Senior Economic Adviser Agrim Kaushal said that India's exports have witnessed consistent growth in recent years, driven by supportive government policies, improved digital infrastructure, better logistics and trade reforms.
On the global front, Asian markets were trading mostly lower as geopolitical tensions flared up in West Asia after United States and Iran carried out a fresh round of military action against each other. The US launched self-defence strikes on Iran following the downing of an Apache military helicopter patrolling over the Strait of Hormuz. Iran has warned that it will respond to Washington's military action, raising concerns over a further escalation in regional tensions.
The BSE Sensex is currently trading at 74337.68, up by 418.92 points or 0.57% after trading in a range of 73897.83 and 74356.61. There were 20 stocks advancing against 10 stocks declining on the index.
The top gaining sectoral indices on the BSE were FMCG up by 1.57%, Energy up by 0.53%, IT up by 0.38%, Healthcare up by 0.28% and Oil & Gas up by 0.26%, while Telecom down by 1.46%, Metal down by 1.09%, Power down by 0.71%, Capital Goods down by 0.56% and Utilities down by 0.52% were the top losing indices on BSE.
The top gainers on the Sensex were Hindustan Unilever up by 2.68%, Reliance Industries up by 1.96%, Kotak Mahindra Bank up by 0.98%, Asian Paints up by 0.98% and TCS up by 0.97%. On the flip side, Infosys down by 1.31%, Eternal down by 0.71%, NTPC down by 0.45%, Bharti Airtel down by 0.38% and Tata Steel down by 0.32% were the top losers.
Meanwhile, expressing optimism over India’s exports growth, Nitin Kumar Yadav, Additional Secretary at the Union Ministry of Commerce, has said that India’s total exports reached an all-time high of $863 billion in FY 2025-26, up from $468 billion in FY 2014-15, reflecting a compound annual growth rate (CAGR) of 5.7 per cent. During this period, merchandise exports rose from $310 billion to $442 billion, while services exports surged from $158 billion to $421 billion, registering a CAGR of 9.3 per cent. Non-petroleum exports also set a new record at $387.9 billion, underscoring the depth and diversity of India’s export base.
Highlighting India’s achievements in forging trade agreements, Yadav noted that the country has concluded several landmark deals that strengthen its position in global value chains. The India-EFTA Trade and Economic Partnership Agreement (TEPA, 2025), backed by an FDI commitment of $100 billion, provides duty-free access for around 98 per cent of India’s exports.
He added that the India-EU Free Trade Agreement (FTA, 2026), covering 27 high-income economies, is likely to support exports worth Rs 3.2 lakh crore, with tariff concessions on 99 per cent of bilateral trade by value. Additionally, the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA, 2021) and the India-UAE CEPA together provide zero-duty access on 99 per cent of India’s exports to these markets, with bilateral trade with the UAE already exceeding $80 billion.
The CNX Nifty is currently trading at 23355.05, up by 112.95 points or 0.49% after trading in a range of 23217.30 and 23356.90. There were 32 stocks advancing against 18 stocks declining on the index.
The top gainers on Nifty were Hindustan Unilever up by 2.71%, Nestle up by 2.68%, Reliance Industries up by 1.98%, Tata Consumer Products up by 1.92% and Apollo Hospital up by 1.03%. On the flip side, Hindalco down by 3.23%, Infosys down by 1.27%, Eternal down by 0.71%, Shriram Finance down by 0.61% and Coal India down by 0.58% were the top losers.
Asian markets were trading mostly in red; Nikkei 225 slipped 1101.63 points or 1.68% to 64,315.00, Taiwan Weighted lost 672.9 points or 1.53% to 44,031.54, KOSPI dropped 379.40 points or 4.92% to 7,717.53, Hang Seng declined 292.9 points or 1.21% to 24,273.00, Straits Times fell 51.93 points or 1.03% to 4,971.32 and Shanghai Composite weakened 23.37 points or 0.58% to 3,986.66, while Jakarta Composite rose 144.61 points or 2.52% to 5,891.26.
