Mumbai | April 27,2026 | SKY LINK TIMES
Sensex Soars 639 Points:
Indian stock markets ended on a strong note on Monday, with benchmark indices rallying sharply after the finalisation of the India–New Zealand Free Trade Agreement (FTA). The upbeat sentiment among investors pushed equities close to the day’s highs, reflecting optimism over improved trade prospects and economic growth.
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Markets Close Strong on FTA Optimism
At the closing bell, the surged 639.42 points, or 0.83 per cent, to settle at 77,303.63. Meanwhile, the gained 194.75 points, or 0.81 per cent, to close at 24,092.70.
The rally was largely driven by the India–New Zealand FTA, which removes tariffs on 100 per cent of India’s exports to New Zealand and significantly reduces or eliminates duties on 95 per cent of imports. The agreement is expected to boost trade volumes, enhance export competitiveness, and attract foreign investment.
Sectoral Gains and Top Performers
Gains were led by sectors such as pharmaceuticals, IT, and real estate. Stocks like Adani Ports, Sun Pharma, NTPC, Tech Mahindra, and Tata Steel emerged as top gainers on the Sensex.
Broader markets outperformed benchmark indices, indicating strong participation from mid- and small-cap stocks. The Nifty MidCap index rose 1.55 per cent, while the Nifty SmallCap index gained 1.96 per cent.
However, not all sectors participated equally in the rally. Banking and financial stocks lagged behind, with Axis Bank, ICICI Bank, Trent, and BEL among the notable losers during the session.
Technical Outlook: Key Levels to Watch
Market experts highlighted that the 24,300–24,400 zone remains a critical resistance level for the Nifty. On the downside, 23,900 is seen as immediate support, with further weakness possible if the index falls below this level, potentially testing 23,800.
These levels will be crucial in determining the short-term direction of the market as investors assess both domestic and global cues.
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Global Cues Add to Positive Sentiment
Investor confidence was also supported by easing geopolitical concerns. Reports indicating a potential de-escalation in tensions between Iran and the United States added to the positive mood in global markets.
The development follows news that Iran may reopen the strategically important Strait of Hormuz, a key route for global oil supplies, which could help stabilise energy markets.
Rupee Movement and Market Outlook
The Indian rupee traded marginally stronger at around 94.16 against the US dollar, gaining 0.07 per cent. Analysts expect the currency to remain volatile in the near term, with a projected trading range between 93.75 and 94.50.
Overall, the combination of a landmark trade deal and improving global sentiment has provided a strong boost to Indian equities. Market participants will now closely monitor further developments related to the FTA and global economic signals for sustained momentum.
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