The World Bank Group has raised India’s GDP growth forecast for fiscal year 2026-27 by 10 basis points to 6.6%, even as it flagged risks stemming from the ongoing West Asia conflict and elevated global energy prices.
In its latest South Asia Economic Update, released Wednesday, the World Bank said India continues to underpin regional growth, supported by resilient domestic demand and policy measures such as tariff cuts and trade agreements.
World Bank raises India’s FY27 growth forecast to 6.6% despite West Asia War impact- Daily Market Update 9th April 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher over 2.5% each.
- European equity markets ended sharply higher in range 2.45% to 4.8%.
- Asian equity markets are trading with a negative bias.
- GIFT Nifty is down by 100 points, Nifty futures likely to open around 24000 levels.
Tracking positive geopolitical cues from the Middle East, the benchmark Nifty index opened with a significant gap on the higher side and settled at 23997 spot levels after adding 874 points to its previous closing values.
Broader markets slightly outperformed the benchmark as Mid and Small cap indices soared over 4% each.
All sectoral indices, tracked at NSE, ended significantly higher. Amongst them, Auto and Realty were at the top of the tally, rose over 6.5% each closely followed by Banking, Fin Services and Consumer Durable index that rose over 5% each.
The two-week-long ceasefire between the USA and Iran boosted investors’ sentiments, turning the tide in favor of the bulls. Going forward, we expect the Nifty index to continue its journey northward toward the 24350–24400 spot levels; any dip toward 23800 should attract buyers’ interest. News-based volatility might take a couple of days to subside.
Derivatives Overview & Outlook
Yesterday, all index futures (Nifty, Banknifty, Finnfity and Midcpnifty) settled higher on short covering, shed 6.2%, 7.2%, 4.5% and 6.6% of open interest respectively.
All F&O sectors settled on a positive note. Amongst them, long buildup were seen among Chemical, Finance, Metal, Pharma and Power stocks along with some short covering among Banking and Realty stocks.
On option front, put writing along with some call addition was seen at multiple OTM strikes. Maximum positions are at 25000 CE followed by 24500 CE and 23000 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 2812 Cr in the cash segment, bought stocks futures worth Rs 2522 Cr also bought index futures worth Rs 5073 Cr. DIIs were net buyers in the cash segment to the tune of Rs 4168 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24300-24500; Supports 23900-23600
Banknifty – Resistances 56700-57000; Supports 55500-55000
Finnifty – Resistances 26300-26500; Supports 26000- 25800
F&O stocks in ban today: Sammaan Capital
Important Results Today: TCS & ANANDRATHI
Disclosure
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