Sensex, Nifty Up Firmly In Positive Territory; RIL, Bank Stocks Rally

(RTTNews) - Indian stocks are up firmly in positive territory Monday morning, led by gains in Reliance Industries, and several stocks from the financial sector.

Positive cues from Wall Street and Asian markets amid easing U.S.-China trade tensions, and some upbeat earnings announcements from big name banks are contributing to the firm undertone in the market.

Worries about India-US trade relations have eased a bit with both the nations agreeing to conclude the first phase of the deal by next month.

Trade tensions between the U.S. and China have eased after U.S. President Donald Trump said the high tariffs he has threatened on Chinese imports are "probably not [sustainable]" but argued "they forced me to do that."

Trump also confirmed he would meet with Chinese President Xi Jinping at a summit in South Korea later this month after previously casting doubt on whether the planned meeting would be worthwhile.

The BSE benchmark Sensex, which climbed to 84,656.56 in early trades, was up 574.39 points or 0.68% at84,526.58 a little while ago. The broader Nifty50 index of the National Stock Exchange was up 174.25 points or nearly 0.7% at 25,884.10.

Reliance Industries is up 3.3%. The company reported consolidated net profit of Rs 18,165 crore in the second-quarter, up 10% compared to Rs 16,563 crore in the year ago period.

ICICI Bank is down more than 2%. ICICI Bank reported a 5.2% increase in profit after tax in the second quarter, compared to the year-ago quarter. Net interest income surged 7.4% in the second-quarter, compared to a year earlier.

HDFC Bank posted a net profit of Rs 18,641.28 crore in the second-quarter, up 10.8% from a year ago. Net Interest Income increased 4.8% in the latest quarter, compared to the corresponding quarter last year. The stock is gaining about 0.4%.

IndusInd Bank is rising nearly 2% despite reporting a net loss of Rs 437 crore in the second quarter of FY26, reversing from a net profit of Rs 1,331 crore in the corresponding quarter of FY25.

Yes Bank is gaining 3%. The bank said that its net profit climbed 18% in the second quarter, compared to the year-ago quarter.

IDFC First Bank is up nearly 8% after reporting a 75% jump in standalone net profit in the second-quarter, compared to a year ago. However, the bank's net interest income tumbled by 40% YoY at Rs 5,112.57 crore.

Axis Bank, Bandhan Bank, IDFC First, Federal Bank and RBL Bank are up with strong gains.

Among PSU bank stocks, Bank of India, Maharashtra Bank, IOB, Central Bank, UCO Bank, PSB, Indian Bank and Union Bank of India are up 3 to 5%. PNB, Canara Bank and Bank of Baroda are gaining 1.5 to 2%, while heavyweight State Bank of India is advancing by 1.3%.

UltraTech Cement reported a whopping 75.2% jump in second-quarter earnings. Despite the sharp jump in earnings, the stock is down by about 0.5%.

Bajaj Finserv, Bharti Airtel, Bajaj Finance, Infosys, TCS, Larsen & Toubro, Tata Motors and Sun Pharmaceuticals Industries are up with sharp to moderate gains.

The market breadth is slightly positive. On BSE, 2,055 stocks are up in positive territory. 1,717 stocks are weak, while 228 stocks little changed from previous closing levels.