The benchmark equity indices Sensex and Nifty continued their winning streak on Tuesday, extending gains for the fourth consecutive session, supported by a sharp correction in crude oil prices and foreign fund inflows.
At the closing bell, the BSE Sensex closed 1,225 points higher (Up 1.6%).
Meanwhile, the NSE Nifty closed 370 points higher (up 1.6%).
Marico, MCX and Trident among the top gainers today.
KEC International, NLC India and NALCO on the other hand, were among the top losers today.
The GIFT Nifty was trading at 23,765 trading 5 points lower at the time of writing.
The BSE 150 Midcap index ended 0.8% higher and the BSE 250 Smallcap index ended 0.4% higher.
Sectoral indices were trading mixed on Tuesday with stocks in banking, realty sector and auto sector witnessing buying speer. Meanwhile stocks in PSU banks, metals sector and utilities sector witnessed selling pressure.
The rupee is trading at 94.65 against the US$.
Gold prices for the latest contract on MCX are trading 1.4% lower at Rs 138,215 per 10 grams.
Meanwhile, silver prices were trading 3.85% lower at Rs 176,709 per 1 kg.
3 reasons why India share markets are rising:
#1 Easing Crude Oil Prices
Brent crude traded flat at around USD 105 a barrel after declining 7 percent in the previous session. Talks between Iran and Qatari mediators raised hopes of an end to the US-Israeli war with Iran.
#2 FII Buying
Foreign portfolio investors (FPIs) were net buyers in the Indian markets on Monday, pumping in Rs 31.1 bn.
#3 Rupee Rises
The rupee appreciated 12 paise to 94.72 against the US dollar, supported by falling crude oil prices and foreign fund inflows into domestic equities. At the interbank foreign exchange market, the rupee opened at 94.68 and strengthened to 94.60 before trading at 94.72 against the greenback, gaining 12 paise from its previous close.
ideaForge Shares Jump 7%
Shares of ideaForge Technology jumped more than 7% on Tuesday after the company reported a sharp turnaround, posting a consolidated net profit of Rs 64.6 m for the second quarter of FY27, against a net loss of Rs 196 m in the same period last year.
Sequentially, the company returned to profitability from a net loss of Rs 26 m reported in the first quarter of FY27. The company's shares rose to Rs 685.90 apiece on the NSE on Tuesday morning.
ideaForge's revenue from operations more than doubled, surging around 124% year-on-year (YoY) to Rs 912.9 m in the July-September quarter.
Marico Q2 Results
Marico reported nearly 30% growth in its Q2 FY27 net profit, supported by strong volume growth, and raised its EBITDA growth guidance for FY27.
Revenue from operations increased 12.95% year-on-year (YoY) to Rs 38,970 m in the second quarter of FY27, compared with Rs 34,500 m in the corresponding period a year ago, according to its regulatory filing.
The growth was driven by volume growth in the domestic market.
EBITDA increased 27% YoY to Rs 7,100 m, while EBITDA margin expanded 200 basis points to 18.2% during the quarter.
Marico's India business delivered 10% underlying volume growth, while its international business recorded 13% constant currency growth (CCG).
GRSE Shares Jump 9%
Shares of Garden Reach Shipbuilders & Engineers (GRSE) jumped nearly 9% on Tuesday to hit an intraday high of Rs 2,231 on the NSE after the company announced that it had signed a Rs 320,000 m contract with the Indian Navy for the construction of five Next Generation Corvettes (NGCs).
According to a filing with the exchange, the company said the signing of the contract marks a major step forward in strengthening India's indigenous warship-building capabilities and advancing the vision of Aatmanirbhar Bharat in defence manufacturing. The company had emerged as the lowest bidder (L1) for the prestigious project.
The project is to be completed within nine years and four months from the date of receipt of the first stage payment. The nature of the contract is construction and delivery, and it has been awarded by a domestic entity.
The company further said that, building on its extensive experience in the construction of guided-missile and antisubmarine warfare corvettes, GRSE will now undertake the construction of these next-generation warships, which will feature enhanced capabilities, advanced sensors and sophisticated weapons systems.
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