Market edge higher as US-Iran peace hopes lift sentiment

The domestic equity benchmarks traded with marginal gains in mid-afternoon trade, supported by optimism over a potential US-Iran peace agreement. Easing geopolitical tensions pushed Brent crude prices below $100, while the rupee strengthened to hover near the 94-per-dollar mark. However, investors remained focused on Q4 earnings for near-term market cues. The Nifty traded above the 24,350 mark. Meanwhile, media stocks witnessed buying interest for the third consecutive trading session.

At 14:25 IST, the barometer index, the S&P BSE Sensex rose 64.23 points or 0.07% to 78,014.40. The Nifty 50 index added 46.05 points or 0.19% to 24,376.65.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index advanced 1.01% and the BSE 250 SmallCap Index rose 1.10%. Meanwhile, the Nifty Midcap 150 scaled a fresh intraday record high of 22,808.45 on the NSE.

The market breadth was strong. On the BSE, 2,751 shares rose and 1,420 shares fell. A total of 189 shares were unchanged.

Buzzing Index:

The Nifty Media index jumped 0.50% to 1,476.45. The index rallied 1.95% in three consecutive trading sessions.

D B Corp (up 2.35%), Nazara Technologies (up 1.1%), Prime Focus (up 1.1%), Network 18 Media & Investments (up 1.06%), Zee Entertainment Enterprises (up 0.72%), Sun TV Network (up 0.53%), Hathway Cable & Datacom (up 0.27%), Saregama India (up 0.16%) and PVR Inox (up 0.12%) advanced.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.04% to 6.929 compared with previous session close of 6.926.

In the foreign exchange market, the rupee lowered against the dollar. The partially convertible rupee was hovering at 94.1475 compared with its close of 94.4925 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement jumped 0.49% to Rs 152,881.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.15% to 97.73.

The United States 10-year bond yield lost 0.48% to 4.334.

In the commodities market, Brent crude for June 2026 settlement dropped $1.77 or 1.75% to $99.50 a barrel.

Stocks in Spotlight:

Bharat Forge 4.99% after the company reported a consolidated net profit of Rs 233.45 crore in Q4 FY26, down 17.4% from Rs 282.62 crore in Q4 FY25. Revenue from operations jumped 17.53% YoY to Rs 4,528.04 crore in the quarter ended 31 March 2026.

MRF shed 0.45%. The tyre maker reported a strong financial performance for the fourth quarter ended March 2026 and announced a hefty final dividend for shareholders. The company?s consolidated net profit surged 42.66% year-on-year (YoY) to Rs 700.68 crore in Q4 FY26, compared with the corresponding quarter of the previous fiscal year. Revenue from operations increased 13.70% YoY to Rs 8,044.22 crore during the quarter.

Craftsman Automation surged 10.06% after its consolidated net profit jumped 74.38% to Rs 116.42 crore in Q4 FY26, as against Rs 66.76 crore in Q4 FY25. Revenue from operations rallied 27.27% year on year to Rs 2,226.4 crore in Q4 FY26.

Brigade Enterprises declined 4.60% after the company reported a 41.05% decline in consolidated net profit to Rs 145.49 crore in Q4 FY26 as against Rs 246.82 crore reported in Q4 FY25. Revenue from operations marginally declined 0.19% year-on-year to Rs 1,457.60 crore in the quarter ended 31 March 2026.

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