Benchmarks Extend Winning Run to Third Session on West Asia Ceasefire Plan Reports

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

By Dehuti Jani

April 6, 2026 at 11:42 AM IST

Indian equity benchmarks erased early losses to close higher for a third consecutive session on Monday, as reports of a framework plan to end US-Iran hostilities lifted sentiment and pulled Brent crude back from $110 to $107 per barrel. The Nifty50 rose 1.12% or 255.15 points to 22,968.25, while the BSE Sensex added 1.07% or 787.30 points to 74,106.85, after both indices had fallen as much as 0.7% and 0.8% respectively during the day before reversing course on the ceasefire news. Reports indicated a two-staged deal was envisaged under the proposed Islamabad Accord, with a final ceasefire potentially arriving within 15 to 120 days alongside nuclear curbs and sanctions relief, though Iran rejected immediately reopening the Strait of Hormuz after President Trump threatened to rain "hell" on Tehran if a deal was not reached by Tuesday. Trent, SBI Life Insurance and Titan Company were the top gainers in the Nifty 50, while bank stocks provided strong support after several lenders reported robust March-quarter loan growth. Fifteen of the 16 major sectors rose on the day.

Broader markets outperformed the benchmarks, with the Nifty Midcap 100 and Nifty SmallCap 100 gaining 1.52% and 1.29% respectively, while the broader small-cap and mid-cap indices advanced 1.3% and 1.5%. Nifty Consumer Durables was the top-performing sectoral index, with Nifty PSU Bank and Nifty Bank also outperforming, while Nifty Oil and Gas underperformed as retreating crude prices weighed on energy stocks. Analysts cautioned that overall risk appetite remains fragile given persistent inflationary pressures and global trade uncertainty, with the RBI policy decision, US CPI data, crude trajectory and geopolitical developments all converging this week to keep markets firmly headline driven.

Top Movers of the Day

Larsen & Toubro rose 3% to ₹3,715 on the BSE, extending its winning streak to a third consecutive session with a cumulative gain of 6% over the period.

Texmaco Rail & Engineering was in focus after receiving an order worth ₹392.6 million from Southern Railway for designing, supplying, erecting, testing and commissioning of 25 kilowatt traction overhead equipment on the proposed track doubling between Thiruvananthapuram and Eraniel stations.

RBL Bank surged nearly 6% after reporting a strong fourth-quarter business update and receiving RBI approval for Dubai-headquartered Emirates NBD Bank to acquire a stake in the lender.

HDFC Bank gained 2.7% to ₹771.2 as strong deposit and loan growth outlook supported sentiment; banking stocks led the broader market rebound.

SBI gained 1.3% to ₹1,032.7 tracking strength in banking stocks; improved sentiment lifted PSU lenders alongside private banks.

Zydus Wellness zoomed 19% to ₹528.10 on the BSE amid heavy volumes, edging close to its all-time high of ₹530.55 touched on 19 September 2025.

Great Eastern Shipping gained 4.3% to an intraday high of ₹1,500 on the BSE before paring gains to trade 3.05% higher at ₹1,482.10.

Reliance Industries hit an over 10-month low of ₹1,300.20, falling 4% on the NSE, as selling pressure continued to weigh on the heavyweight counter.

Nykaa surged up to 4% following the release of its fourth-quarter business update and reports of a potential acquisition of a majority stake in Deepika Padukone's skincare brand 82°E.

Avenue Supermarts gained 4.0% to ₹4,518 as strong Q4 revenue growth of ~19% YoY supported buying; store additions further aided positive outlook.

Trent gained 8% to ₹3,834 after reporting 20% YoY revenue growth in Q4; expansion momentum continued to drive investor confidence.

Wipro gained 1.4% to ₹197.70 after securing a $1 billion deal with Olam Group; the long-term contract strengthens revenue visibility.

ONGC declined 2% to ₹281 as oil & gas stocks came under pressure; volatility in crude prices and margin concerns weighed on sentiment.

Futures & Options
Nifty April 2026 futures reflected a cautious undertone on Monday, with Nifty futures edging down 0.07%. Derivative traders rolled over significant positions into the new April series but did so with fresh short bets concentrated in three of the market's heaviest sectors, banks, auto and FMCG, while foreign investors sharply increased their bearish bets against the Nifty itself. The cost of carrying positions forward collapsed to unusually low levels, pointing to low conviction among market participants and a clear sell-on-rise bias. Among individual stocks, Bank of India, Nykaa and UPL were the top F&O gainers.

Bonds
India's government bond yields eased on Monday, snapping a remarkable 12-session streak of consecutive rises, with the benchmark 6.48% 2035 bond yield declining to 7.0458% from 7.1329% at Thursday's close — its highest level in nearly two years. The improvement in sentiment was driven by likely Reserve Bank of India bond purchases in the previous week and a lighter-than-expected state government borrowing plan, which offered some relief to a market that had been under sustained pressure from surging oil prices and elevated fiscal concerns. Traders also positioned cautiously ahead of the central bank's monetary policy decision later in the week.

Forex
Indian rupee closed nearly unchanged on Monday at 93.06 per dollar, barely moved from Thursday's close of 93.10, as dollar sales driven by the unwinding of arbitrage positions were offset by hedging demand from importers amid the swirling risks of the ongoing Iran war. The currency has held relatively steady after its dramatic nearly 2% single-day rally on Thursday, when it bounced back sharply from a record low of 95.21 after the Reserve Bank of India doubled down on curbing speculative bets against the rupee.

Crypto
Crypto markets turned green on Monday, with Bitcoin, Ethereum and XRP all posting modest gains as reports of a potential 45-day US-Iran ceasefire deal lifted risk appetite across asset classes. Bitcoin rose 3% to around $69,137, Ethereum climbed nearly 4% to $2,131 and XRP gained roughly 2% to hold near $1.33, as regional mediators were reported to have proposed a two-phase peace plan of a Tuesday deadline. The geopolitical catalyst provided a meaningful boost to digital asset sentiment after weeks of subdued price action driven by the West Asia conflict and its cascading impact on global markets.

US Stock Futures
US stock futures moved higher on Monday after the major indices posted their biggest weekly gains in four months, as investors reacted to signals of a possible pause in the West Asia conflict and improving economic data. Dow Jones Industrial Average futures rose 0.16%, S&P 500 futures gained 0.37% and Nasdaq futures climbed 0.66%, building on last week's recovery that partially reversed the heavy losses sustained through much of March.

US Treasury Notes
Yields on US Treasury trended higher on Monday as investors reacted to ongoing West Asia tensions and a robust domestic labour market, with Brent crude hovering near $110 per barrel sustaining concerns over persistent inflationary pressures and delayed Federal Reserve rate cuts. The benchmark 10-year note yield rose to 4.36%, its highest level in a week, however it eased to 4.34% later, while the 2-year note yield climbed to 3.86%, as markets continued to price in a higher-for-longer interest rate environment amid the energy-driven inflation overhang.

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