Updated on: Apr 07, 2026 11:50:05 PM IST
The National Stock Exchange building in Bandra Kurla Complex, Mumbai.
India’s stock market climbed for a fourth consecutive session today as investors scooped up technology stocks ahead of an anticipated earnings season, even as a looming deadline for a deal between the US and Iran kept global markets on edge. The NSE Nifty 50 Index rose 0.7% to 23,123.65 in Mumbai, while the S&P BSE Sensex added 0.7% to 74,616.58. The gains were driven by a 2.5% surge in Nifty IT index—the best-performing sector of the day—as Tata Consultancy Services Ltd. prepares to kick off the quarterly reporting cycle on Thursday.
The advance in India comes against a volatile geopolitical backdrop. US President Donald Trump has set an 8:00 pm Washington deadline for Tehran to reach a deal or face potential strikes on power plants and civilian infrastructure. The threat to keep the Strait of Hormuz closed has kept Brent crude hovering around $109 a barrel, a level that threatens to strain India’s fiscal deficit and corporate margins.
“We are seeing some value buying emerging in the IT sector ahead of fourth-quarter earnings, despite long-term concerns regarding AI disruption,” said Anita Gandhi, head of institutional business at Arihant Capital Markets. “However, the sustenance of this rally hinges on positive commentary from the companies themselves.”
Monetary Focus
The market’s attention is also pivoting toward the Reserve Bank of India, which is scheduled to announce its policy decision on Wednesday. Economists widely expect Governor Sanjay Malhotra to maintain a status quo on the repo rate as policymakers assess the inflationary impact of the Iran war.
Financial and auto stocks, which are sensitive to interest rate trajectories, posted modest gains of 0.1% to 0.3% ahead of the central bank’s announcement.
Metal producers provided additional support to the benchmarks. Hindalco Industries Ltd. and Vedanta Ltd. rose 3% and 3.4%, respectively, after JPMorgan Chase & Co. upgraded the stocks to overweight. Analysts cited a brightening outlook for industrial metals even as global supply chains face disruption risks.
Small-Cap Lag
Broad market participation was mixed. While 14 of the 16 major sectoral sub-indexes advanced, the more volatile small-cap stocks fell 0.1%. Mid-caps managed a slim 0.2% gain, trailing the blue-chip benchmarks.
With the RBI decision and the U.S.-Iran deadline overlapping within the next 24 hours, volatility is expected to spike. “The market is navigating a tightrope between domestic earnings optimism and a very precarious global energy situation,” Gandhi said.
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The advance in India comes against a volatile geopolitical backdrop. US President Donald Trump has set an 8:00 pm Washington deadline for Tehran to reach a deal or face potential strikes on power plants and civilian infrastructure. The threat to keep the Strait of Hormuz closed has kept Brent crude hovering around $109 a barrel, a level that threatens to strain India’s fiscal deficit and corporate margins.
“We are seeing some value buying emerging in the IT sector ahead of fourth-quarter earnings, despite long-term concerns regarding AI disruption,” said Anita Gandhi, head of institutional business at Arihant Capital Markets. “However, the sustenance of this rally hinges on positive commentary from the companies themselves.”
Monetary Focus
The market’s attention is also pivoting toward the Reserve Bank of India, which is scheduled to announce its policy decision on Wednesday. Economists widely expect Governor Sanjay Malhotra to maintain a status quo on the repo rate as policymakers assess the inflationary impact of the Iran war.
Financial and auto stocks, which are sensitive to interest rate trajectories, posted modest gains of 0.1% to 0.3% ahead of the central bank’s announcement.
Metal producers provided additional support to the benchmarks. Hindalco Industries Ltd. and Vedanta Ltd. rose 3% and 3.4%, respectively, after JPMorgan Chase & Co. upgraded the stocks to overweight. Analysts cited a brightening outlook for industrial metals even as global supply chains face disruption risks.
Small-Cap Lag
Broad market participation was mixed. While 14 of the 16 major sectoral sub-indexes advanced, the more volatile small-cap stocks fell 0.1%. Mid-caps managed a slim 0.2% gain, trailing the blue-chip benchmarks.
With the RBI decision and the U.S.-Iran deadline overlapping within the next 24 hours, volatility is expected to spike. “The market is navigating a tightrope between domestic earnings optimism and a very precarious global energy situation,” Gandhi said.
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Apr 07, 2026 2:38:05 PM IST
Tata Steel achieves record production in India
Tata Steel Ltd. has achieved record annual production in India, fueled by capacity expansions that helped one of the world’s most geographically diversified producers navigate a shifting global landscape for industrial metals.
The Tata Group company produced 23.48 million tonnes of crude steel in India in FY26—an 8% increase over the previous year, according to an exchange filing on Tuesday (7 April 2026).
The output was primarily boosted by the ramp-up of the Kalinganagar plant in Odisha that helped offset a temporary shutdown of a blast furnace at its Jamshedpur facility. Read more.
Apr 07, 2026 2:28:43 PM IST
Air India confirms CEO Campbell Wilson’s exit
Air India Ltd. has confirmed the resignation of CEO Campbell Wilson, as reported by Hindustan Times earlier today, underscoring the top-level churn among some of India’s biggest airlines.
Wilson, who took the helm following the airline’s privatisation, had signalled his intent to exit as early as 2024, Air India said in a statement on Tuesday. He will remain in his current role until a successor is appointed by a newly constituted board committee.
His contract was originally slated to run through July 2027. Read more.
Apr 07, 2026 1:32:10 PM IST
Godrej Consumer warns of price hikes in Q4 update
Godrej Consumer Products Ltd. expects costs to rise 6% to 9% if crude oil prices holds at $100 to $110 a barrel and palm oil prices hover between 4,500 and 4,800 Malaysian ringgit per tonne.
The impact may be offset by price hikes and other savings measures, the maker of Cinthol soaps and Goodknight mosquito repellent said in an exchange filing, without providing too many details. Read more.
Apr 07, 2026 1:17:02 PM IST
Air India revises fuel-surcharge math as ATF prices double
Air India Ltd. has revised its fuel surcharge math for domestic and international flights, reacting to a volatile energy market that has seen global jet fuel prices nearly double in a single month. Read more.
Apr 07, 2026 12:52:23 PM IST
Sona BLW hits major production milestones for EV overdrive
Sona BLW Precision Forgings Ltd., also known as Sona Comstar, has achieved two key production milestones, signalling a global overdrive even as the wider automotive industry goes electric. Read more.
Apr 07, 2026 11:52:51 AM IST
HCLTech US initiates plan to cut 120 jobs in Orlando, Florida
The US subsidiary of HCL Technologies Ltd. has initiated plans to cut 120 jobs in Florida, as part of an operational restructuring linked to a client engagement at an Orlando worksite, Moneycontrol reported.
A small number of “additional separations” will extend into early 2027. The layoffs are permanent, according to a Worker Adjustment and Retraining Notification (WARN) filing on 1 April 2026.
The US WARN Act requires employers to give advance notice of mass layoffs or plant closures if the affected employees are more than 100 in number.
Apr 07, 2026 11:35:26 AM IST
Jefferies says ‘steel the opportunity’ as Tata Steel, JSW Steel decline
Shares of Tata Steel Ltd. and JSW Steel Ltd. have declined 9% since the outbreak of the Iran war, but domestic steel prices have increased 6%. That disconnect, according to Jefferies, is a compelling entry point into the sector.
The brokerage said the disconnect is unsustainable and presents a clear buying opportunity, especially since earnings outlook remains stronger.
Apr 07, 2026 10:53:54 AM IST
RBI likely to maintain status quo on repo rate tomorrow
The Reserve Bank of India is likely to maintain status quo on repo rate in its first monetary policy decision since the Iran war, as it grapples with a sharply weaker rupee while trying to support economic growth.
All 30 economists surveyed by Bloomberg expect the RBI to keep the benchmark repo rate unchanged at 5.25%, after the central bank signalled a prolonged pause at its last meeting, though the outlook has since clouded. Read more.
Apr 07, 2026 10:06:30 AM IST
Wipro leads Nifty IT gains after biggest M&A deal
Wipro Ltd. is powering Nifty IT higher today, following its billion-dollar contract with Singapore’s Olam Group for an agritech push. Coforge Ltd., Mphasis Ltd. and Persistent Systems Ltd. also advanced 1.19%, 1.07% and 0.97%, respectively.
Apr 07, 2026 10:04:14 AM IST
Air India CEO Campbell Wilson resigns, Mint says
Campbell Wilson, the chief executive officer tasked with leading the Tata Group’s ambitious overhaul of Air India Ltd., has resigned from the airline, Mint reported, citing people with direct knowledge of the matter.
Wilson is currently serving his notice period, said the people, who asked not to be identified as the information is private. It remains unclear when his tenure will officially conclude or if Tata Group has identified a successor for the nation’s second-largest carrier.
A spokesperson for Air India did not immediately respond to Mint’s email seeking comment. Read more.
Apr 07, 2026 9:34:07 AM IST
Motilal Oswal cuts Nifty 50 EPS to ₹1,246 for FY27
Motilal Oswal Financial Services Ltd. has cut its Nifty 50 EPS estimate by 1.3% to ₹1,246 for FY27. The brokerage expects Nifty 50 firms to report 6% year-on-year profit growth in Q4 FY26, on the back of a 13% year-on-year growth in revenue.
Apr 07, 2026 9:31:04 AM IST
Hindalco emerges top Nifty 50 gainer on JPMorgan upgrade
Hindalco Industries Ltd. emerged as the top gainer on the Nifty 50 after JPMorgan Chase & Co. upgraded the stock to “overweight” from “neutral” and raised the target price to ₹1,125 from ₹875.
The Iran war is likely to keep aluminium prices higher for longer, which works to the advantage of Hindalco—the largest producer of the metal globally, according to the brokerage.
The worst may be behind for Novelis, JPMorgan said, while tailwinds in Hindalco’s India business should help ease debt concerns.
Apr 07, 2026 9:22:37 AM IST
Opening Bell: Sensex, Nifty 50 decline, rupee gains
The 30-share S&P BSE Sensex fell as much as 0.50% at the opening bell, even as the wider NSE Nifty 50 fell below 22,900 points. The rupee, meanwhile, strengthened 8 paise to 92.98/dollar.
Apr 07, 2026 8:50:46 AM IST
Hindalco Industries Ltd. and Vedanta Ltd. could rise after JPMorgan upgrades the aluminium makers to “overweight” from “neutral” on higher prices due to the Iran war.
Godrej Consumer Products Ltd. expects a close-to-double-digit growth in revenue in the March quarter, flags a potential 6%-9% rise in costs due to higher crude, palm oil prices.
PC Jeweller says its Q4 revenue rose about 32% year-on-year while full-year revenue grew 49% in FY26.
