Nifty tops 24,350, Sensex jumps 505 pts as easing geopolitics lift sentiment

Domestic equity benchmarks staged a steady comeback on Friday, with the Nifty reclaiming the 24,350 mark and closing near the day?s high as geopolitical nerves eased and crude prices softened.

The session began on a firm footing, backed by a mix of calming global signals. A ceasefire between Israel and Lebanon, coupled with optimism around upcoming US-Iran talks, helped cool oil prices and lift investor sentiment. Brent slipped below $97 per barrel, easing inflation concerns and giving equities breathing room.

The Nifty moved in a tight range but with a clear upward tilt through the day, gradually inching higher and finishing close to its peak. Leadership came from FMCG, energy, and metal stocks, which powered the rally, while IT and pharma names stayed relatively subdued. The broader tone remained constructive, with most sectors ending in the green.

The S&P BSE Sensex jumped 504.86 points or 0.65% to 78,493.54. The Nifty 50 index advanced 156.80 points or 0.65% to 24,353.55.

Hindustan Unilever (down 4.75%), Reliance Industries (down 1.61%) and HDFC Bank (down 0.55%) boosted the indices today.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rallied 1.26% and the BSE 250 SmallCap Index surged 1.52%.

The market breadth was strong. On the BSE, 3,043 shares rose and 1,284 shares fell. A total of 180 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 4.86% to 17.21.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.09% to 6.898 compared with the previous session close of 6.911.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 92.8500 compared with its close of 92.1475 during the previous trading session.

MCX Gold futures for the 5 June 2026 settlement shed 0.09% to Rs 153,012.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 10% to 97.92.

The United States 10-year bond yield fell 0.35% to 4.296.

In the commodities market, Brent crude for June 2026 settlement lost $3.37 or 3.39% to $96.02 a barrel.

Global Markets:

US Dow Jones futures jumped 175 points, signalling a strong start for Wall Street later today.

European indices traded higher on Friday, even as the ongoing U.S.-Iran conflict continued to linger over investor sentiment.

Asian indices, however, ended mostly lower, reflecting cautious optimism around the Middle East situation and a disconnect from Wall Street's record-setting rally.

U.S. President Donald Trump said on Friday that the war in Iran should be ending pretty soon, reinforcing expectations of a possible de-escalation.

Earlier, Trump confirmed a 10-day ceasefire agreement between Israel and Lebanon. Iran?s parliament speaker indicated that Israel halting attacks on Lebanon is a key precondition for initiating U.S.-Iran negotiations.

The next round of in-person talks between the U.S. and Iran could take place ?probably, maybe, next weekend,? Trump said on Thursday. Notably, the current two-week ceasefire between the U.S. and Iran is set to expire on 21 April 2026.

Meanwhile, Japan?s export credit agency, the Japan Bank for International Cooperation, plans to create an investment window of up to 600 billion yen, roughly $3.8 billion, to support energy security across Asian nations, according to Finance Minister Satsuki Katayama.

Overnight on Wall Street, the S&P 500 and Nasdaq Composite scaled fresh record highs on Thursday, extending this week?s rally on hopes of a resolution to the Iran conflict.

The S&P 500 rose 0.26% to close at 7,041.28, while the Nasdaq gained 0.36% to settle at 24,102.70. The Dow Jones Industrial Average added 115 points, or 0.24%, to end at 48,578.72.

Markets have been climbing on optimism around a potential peace deal, with the S&P 500 now having erased all losses recorded since the start of the Iran conflict.

New Listing:

Shares of Om Power Transmission settled at Rs 190.15 on the BSE, a premium of 8.66% to the issue price of Rs 175.

The stock debuted at Rs 181.10, a premium of 3.49% to the issue price. The stock has hit a high of Rs 190.15 and a low of Rs 181.10. On the BSE, over 1.86 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Apollo Micro Systems surged 16.78% after the company received a licence from the Government of India to manufacture defence weapon systems.

Bajaj Consumer Care surged 9.80% after the company?s consolidated net profit rose 105.29% year-on-year (YoY) to Rs 63.60 crore in Q4 FY26, compared with Rs 30.98 crore in the corresponding quarter last year. Total revenue from operations increased 30.40% YoY to Rs 326.66 crore.

VST Industries soared 9.73% after its standalone net profit zoomed 120.16% to Rs 116.69 crore in Q4 FY26, compared with Rs 53 crore posted in Q4 FY25. Revenue from operations (excluding excise duty) jumped 31.09% YoY to Rs 457.06 crore in the quarter ended 31 March 2026.

Waaree Renewable Technologies zoomed 5.44% after the company?s consolidated net profit jumped 66% to Rs 155.74 crore on 131.3% surge in revenue from operations to Rs 1,102.40 crore in Q4 FY26 over Q4 FY25.

Angel One advanced 10.58% after the company reported a robust performance for the quarter ended March 2026. The company?s consolidated net profit (PAT) jumped 83.49% year-on-year (YoY) to Rs 320.24 crore in Q4 FY26, driven by a 38.20% increase in total revenue from operations to Rs 1,459.42 crore.

CRISIL rallied 5.36% after the company?s consolidated net profit jumped 45.93% to Rs 233.26 crore on 30.06% increase in revenue from operations to Rs 1,057.66 crore in Q1 March 2026 over Q1 March 2025.

Kolte-Patil Developers jumped 5.99% after the company reported 18% increase in sales value to Rs 714 crore in Q4 FY26 as compared with the figure of Rs 605 crore recorded in Q3 FY26. The company?s sales value is higher by 13% as compared with the sales value of Rs 631 crore registered in Q4 FY25.

Rail Vikas Nigam rose 3.22% after the company emerged as the lowest bidder (L1) for a major infrastructure contract from East Coast Railway. The project involves construction of key bridges under the third and fourth railway line expansions between Nergundi-Barang and Khurda Road-Vizianagaram on the Bhadrak-Vizianagaram section. The total contract value stands at approximately Rs 968 crore.

KPI Green Energy added 1.71% after the company received an inter-state power trading licence (Category IV) from the Central Electricity Regulatory Commission (CERC), enabling participation in India?s national power markets.

Alok Industries shed 0.83%. The company?s consolidated net loss widened to Rs 192.54 crore in Q4 FY26 as against a net loss of Rs 74.47 crore reported in Q4 FY25. Revenue from operations rose 3.14% year on year (YoY) to Rs 982.97 crore in the quarter ended 31 March 2026.

Madhya Bharat Agro Products declined 6.95%. The company reported a net profit of Rs 59.75 crore in Q4 FY26, which is which is over four times the PAT of Rs 14.25 crore recorded in Q4 FY25. Revenue from operations increased by 33% year-on-year (YoY) to Rs 394.72 crore.

Karbonsteel Engineering surged 2.12% after the company announced receipt of new orders aggregating Rs 101.01 crore from a leading domestic infrastructure and engineering company. The order involves fabrication and supply of structures for an air-cooled condenser (ACC). The company said the total quantity will be delivered within 10 months from the issuance of the purchase order and drawings.