Sensex, Nifty Close Notably Higher On Strong Earnings, U.S.-Iran Peace Deal Hopes

RTTNews | 129 days ago

(RTTNews) - After opening on a bright note, Indian stocks gradually shed ground and slipped into negative territory around early afternoon on Wednesday but recovered swiftly and gained in strength as the day progressed to eventually end the session with strong gains.

Slightly lower oil prices, the rupee's recovery against the U.S. dollar, and optimism over a potential U.S.-Iran peace deal contributed to market's rise.

U.S.-Iran peace deal hopes rose following U.S. President Donald Trump's announcement of a temporary suspension of "Project Freedom" in order to resume negotiations with Iran.

The benchmark BSE Sensex ended with a gain of 940.73 points or 1.22% at 77,958.22, while the National Stock Exchange's Nifty50 settled at 24,330.95, gaining 298.15 points or 1.24%.

Indigo climbed up 6.6%. Trent gained nearly 4%, while Asian Paints, State Bank of India and HDFC Bank moved up 3.1%-3.6%.

Mahindra & Mahindra moved up more than 2.5%, extending recent gains thanks to stronger than expected fourth quarter earnings.

Eternal, Axis Bank, Bajaj Finserv, Bajaj Finance, ICICI Bank, Maruti Suzuki and Tata Steel gained 2%-3%. Sun Pharmaceutical Industries, Bharti Airtel, KotaK Bank, Adani Ports, Tech Mahindra, Ultratech Cement and BEL also ended with strong gains.

Tata Motors Passenger Vehicles rallied nearly 4.5%. Shriram Finance gained about 4.5%. Bajaj Auto gained 3.4%

Dr Reddy's Laboratories, Cipla, Sun Pharmaceutical Industries, SBI Life, HDFC Life, Max Health, Jio Financial Services and JSW Steel posted impressive gains.

Hero MotoCorp gained more than 2.5% on stronger-than-expected net profit.

Reliance Industries closed 1.8% down. Larsen & Toubro shed 1.18% after reporting a drop in earnings in the fourth quarter. Power Grid Corporation and NTPC also closed more than 1% down.

ONGC shed 3.1%. Hindalco and Coal India ended lower by 1% and 0.8%, respectively.

Coforge jumped nearly 8.5% after the company's earnings more than doubled in the fourth quarter.

The market breadth remained strong. On BSE, 2,862 stocks closed higher. 1,365 stocks ended weak, while 172 stocks closed flat.

In economic news, India's HSBC Composite PMI registered 58.2 in April 2026, slightly less than the flash estimate of 58.3 but higher than 57.0 in the previous month.

The HSBC India Services PMI was revised higher to 58.8 in April 2026 from the preliminary estimate of 57.9, following March's 13-month low of 57.5. The latest reading marked the strongest growth since last November.

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