Benchmarks gain for second day on earnings optimism, US-Iran peace hopes
The benchmark indices ended higher in a volatile session on Thursday, extending their gains for a second consecutive session. Sentiment was supported by hopes of a diplomatic breakthrough in the Middle East and a better-than-expected June-quarter earnings season. The rally was led by strong buying in PSU bank and oil & gas stocks, although weakness in metal, auto and IT shares capped the upside. Broader market underperformed the benchmark indices. The Nifty closed above the 24,600 mark, supported by gains in Reliance Industries and State Bank of India. Technically, the 24,500-24,450 zone is expected to provide immediate support for the Nifty.
The S&P BSE Sensex, jumped 373.76 points or 0.48% to 78,954.76. The Nifty 50 index rose 11.35 points or 0.05% to 24,636. In two consecutive sessions, the Sensex rose 1.33% while the Nifty climbed 1.29%.
Reliance Industries (up 3.52%), State Bank of India (up 2.84%) and ICICI Bank (up 0.51%) boosted the Nifty higher today.
In the broader market, the BSE 150 MidCap Index rose 0.01% and the BSE 250 SmallCap Index added 0.25%.
The market breadth was negative. On the BSE, 2,100 shares rose and 2,191 shares fell. A total of 209 shares were unchanged.
Numbers to Track:
In the commodities market, Brent crude for October 2026 settlement gained 64 cents or 0.81% to $80.09 a barrel.
The yield on India's 10-year benchmark federal paper ended flat at 6.772%, unchanged from the previous session.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.2450 compared with its close of 95.0850 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement jumped 0.80% to Rs 1,50,980.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.10% to 99.64.
The United States 10-year bond yield rose 0.26% to 4.629.
Global Markets:
The Dow Jones futures rose 141 points, signalling a positive opening for Wall Street.
European shares traded higher on Thursday amid growing optimism over the potential reopening of the Strait of Hormuz, a key global oil shipping route.
Asian indices ended mixed after the previous session's AI-led rally, while oil prices traded in a narrow range as investors assessed the prospects of a peace agreement between the United States and Iran.
According to media reports, a proposed agreement brokered by Oman would give Iran greater control over vessels entering the Gulf through the Strait of Hormuz, one of the biggest concessions under the proposed deal to end the five-month conflict.
On Wall Street, the Dow Jones Industrial Average closed at a record high on Wednesday as hopes of progress in US-Iran peace talks lifted investor sentiment. However, the Nasdaq snapped a five-session winning streak after disappointing reactions to earnings from SpaceX and Advanced Micro Devices (AMD).
The Dow gained 263.18 points, or 0.49%, to 54,349.06. The S&P 500 slipped 0.17% to 7,723.52, while the Nasdaq Composite fell 0.83% to 26,363.44.
SpaceX reported that revenue nearly doubled and operating losses narrowed in its first earnings report since listing, driven by strong growth in its Starlink satellite communications and AI businesses. However, the stock plunged 13.6% as investors questioned the sustainability of its heavy AI-related spending. Shares may also face additional pressure as the post-IPO lock-up period begins on Thursday.
AMD forecast quarterly revenue above analysts' estimates, reflecting robust demand for AI chips. Despite the upbeat outlook, the stock fell 7% as investors sought stronger evidence that elevated AI spending would translate into faster earnings growth.
New Listing:
Shares of MV Electrosystems ended at Rs 622.75 on the BSE, representing a premium of 46.53% as compared with the issue price of Rs 425.
The stock debuted at Rs 519, marking a premium of 22.12% to the issue price.
The stock has hit a high of Rs 622.75 and a low of Rs 518.95. On the BSE, over 17.42 lakh shares of the company were traded in the counter.
Shares of Juniper Green Energy ended at Rs 259.60 on the BSE, representing a premium of 15.38% as compared with the issue price of Rs 225.
The stock debuted at Rs 242, marking a premium of 7.56% to the issue price.
The stock has hit a high of Rs 266.15 and a low of Rs 232.10. On the BSE, over 64.88 lakh shares of the company were traded in the counter.
Stocks in Spotlight:
Neuland Laboratories zoomed 8.24% after the pharmaceutical company reported a stellar set of earnings for the quarter ended 30 June 2026, driven by robust revenue growth and a sharp improvement in operating margins. The company's consolidated net profit soared 962.37% year-on-year to Rs 147.67 crore in Q1 FY27 from Rs 13.90 crore in the corresponding quarter of the previous year. Net sales more than doubled, rising 119.16% YoY to Rs 641.58 crore, reflecting strong business momentum during the quarter.
Navin Fluorine International surged 13.27% after the company reported a strong set of earnings for the quarter ended 30 June 2026, driven by robust growth across its three business verticals. The company's consolidated net profit jumped 107.67% year-on-year to Rs 243.31 crore in Q1 FY27 from Rs 117.16 crore in the corresponding quarter last year. Revenue from operations rose 44.07% YoY to Rs 1,045.08 crore, reflecting healthy demand across its core business segments.
Cummins India fell 0.70%. The company reported largely flat earnings for the quarter ended 30 June 2026. On a consolidated basis, the company's profit after tax increased 0.9% YoY but declined 6.2% QoQ to Rs 609.30 crore in Q1 FY27. Net sales rose 17.9% YoY and 13.8% QoQ to Rs 3,426.01 crore in the quarter ended 30 June 2026. Total income increased 17.2% YoY and 12.9% QoQ to Rs 3,563.35 crore.
GMM Pfaudler surged 14.57% after reporting strong profit growth for the quarter ended 30 June 2026. The company's consolidated profit after tax surged 118% YoY and 47% QoQ to Rs 22 crore in Q1 FY27. Operational income increased 16% YoY but declined 2% QoQ to Rs 925 crore in the quarter ended 30 June 2026.
Biocon added 2.68% after the company reported 355% jump in consolidated net profit to Rs 141 crore in Q1 FY27 from Rs 31 crore in Q1 FY26. Revenue from operations rose by 10% year-on-year (YoY) to Rs 4,336 crore during the period under review.
Kolte-Patil Developers jumped 10.10% after the company added six society redevelopment projects across the Mumbai Metropolitan Region, with a combined estimated gross development value (GDV) of around Rs 6,000 crore. The new projects are located in Santacruz West, Andheri West (Lokhandwala), Oshiwara, Versova, Ghatkopar East and Vashi.
Garware Technical Fibres rose 5.16% after the company reported healthy earnings growth for the quarter ended 30 June 2026. The company's consolidated profit after tax increased 21.5% YoY and 12.9% QoQ to Rs 64.60 crore in Q1 FY27. Net sales rose 31.4% YoY and 13.1% QoQ to Rs 482.37 crore in the quarter ended 30 June 2026. Total income increased 29.3% YoY and 13.2% QoQ to Rs 491.30 crore.
Sayaji Hotels fell 0.96% after the company's consolidated net profit tanked 95.20% to Rs 0.29 crore in Q1 FY27 as against Rs 6.05 crore posted in Q1 FY26. Revenue from operations decreased 20% year on year (YoY) to Rs 20 crore in Q1 FY27.
Whirlpool of India rose 2.07%. The company reported a 29.40% decline in consolidated net profit to Rs 102.88 crore in the first quarter of FY27, compared with Rs 145.73 crore in the corresponding quarter last year. However, revenue from operations increased 12.10% year on year (YoY) to Rs 2,726.75 crore in Q1 FY27.
Bharti Hexacom fell 2.43%. The company reported 23.2% rise in net profit to Rs 482 crore on a 10.9% increase in total revenues to Rs 2,510 crore in Q1 FY27 as compared with Q1 FY26. Mobile revenues increased 9.3% YoY, driven by the company's sustained focus on acquiring and retaining high-value customers. ARPU improved to Rs 259 in Q1 FY27 as compared to Rs 246 in Q1 FY26.
Initial Public Offer (IPO):
Ardee Industries received bids for 82,72,52,479 shares as against 5,84,22,516 shares on offer, according to stock exchange data at 17:00 IST on 06 August 2026. The issue was subscribed 14.16 times.
The issue opened for bidding on 5 August 2026 and will close on 7 August 2026. The price band of the IPO is fixed between Rs 50 and 53 per share. An investor can bid for a minimum of 281 equity shares and multiples thereof.
Powered by Capital Market - Live News