The benchmark indices opened higher, maintained their gains throughout the session and closed higher.
Indian equity benchmark indices, the Sensex and Nifty 50 extended the rally to the fifth session as oil prices fell significantly on hopes for a faster end to West-Asia conflict post Democrats' win in the US midterm.
At the closing bell, the BSE Sensex closed 2,009 points higher (up 2.6%)
Meanwhile, the NSE Nifty closed 576 points higher (up 2.4%)
Bajaj Finance, ICICI Bank, M&M are the top gainers today.
NTPC, Bharat Elec, Adani Ports on the other hand, were among the top losers today.
The GIFT Nifty was trading at 24,582 with 17 points lower at the time of writing.
The BSE 150 Midcap index is trading 1.9% higher and the BSE 250 SmallCap index is trading 0.8% higher.
Sectoral indices traded mixed today, with PSU Bank sector and Realty sector witnessed buying. Meanwhile, stocks in telecommunication sector and power sector witnessed selling pressure.
The rupee is trading at Rs 94.4 against the US$.
3 reasons why Indian share markets are rising:
#1 Sharp Decline in Crude Oil Prices
Crude oil prices continued to fall for the fourth consecutive session on Thursday amid hopes of a possible diplomatic resolution to the US-Iran conflict. Brent crude declined 1.07% to US$93.61 per barrel, while WTI crude fell 1.29% to US$86.98 per barrel. Lower crude prices are positive for India as they can reduce the country's oil import bill, ease inflation and support corporate profitability.
#2 Continued FII Buying
Foreign Institutional Investors (FIIs) continued their buying spree in Indian equities, purchasing shares worth Rs 7,284 crore and extending their buying streak to four consecutive sessions. This strong buying reflects improving foreign investor confidence in the Indian stock market. Continued FII inflows can also provide additional liquidity and support market sentiment.
#3 Positive Global Market Cues
Positive global market trends also supported investor sentiment. Asian markets, including Shanghai's SSE Composite and Hong Kong's Hang Seng, were trading higher. Meanwhile, US markets ended Wednesday's session on a strong note, with the Dow Jones rising 3.03%, the S&P 500 gaining 1.58% and the Nasdaq advancing 1.44%. These gains provided positive signals for Indian equities.
Gold prices for the latest contract on MCX are trading 1.3% higher at Rs 1,45,119 per 10 grams.
Meanwhile, silver prices were trading 0.6% higher at 1,89,000 per 1 kg.
Biocon Q2 FY27 Results
Shares of Biocon came into focus after the company reported its Q2 FY27 results.
Biocon reported a 52% year-on-year (YoY) decline in consolidated net profit to Rs 0.41 billion in Q2 FY27, compared with Rs 0.85 billion in the corresponding quarter last year. In the previous quarter (Q1 FY27), the company had reported a net profit of Rs 1.41 billion.
On the revenue front, the company's revenue from operations increased 2% YoY to Rs 43.89 billion in Q2 FY27, compared with Rs 42.96 billion in Q2 FY26.
Meanwhile, EBITDA declined 7% YoY to Rs 8.65 billion, while the EBITDA margin contracted by 2 percentage points to 20%.
In an exchange filing, the company stated that it secured new contracts worth over US$100 million and major payor wins for its commercialised products in the US. It also witnessed strong demand for Insulin Glargine and received regulatory approvals for the Yesintek autoinjector in the US and Canada during the quarter.
Dabur India Q2 FY27 Results
Shares of Dabur India came into focus after the company reported its Q2 FY27 results.
Dabur reported an 11.6% year-on-year (YoY) increase in net profit to Rs 5.06 billion in Q2 FY27, compared with Rs 4.53 billion in the corresponding quarter last year.
Meanwhile, the company announced that its Global CEO, Mohit Malhotra, has resigned, effective November 13, 2026. The board has approved the appointment of Herjit S. Bhalla, currently the CEO of its India business, as a Whole-time Director for a five-year term, effective November 14, 2026, subject to regulatory approvals.
On the business front, Dabur's India business recorded 10.7% growth during the quarter, supported by underlying volume growth of 5.5%. Its premium brands performed particularly well, growing at four times the pace of regular brands and accounting for 20% of the domestic business.
The Home and Personal Care (HPC) business, which includes brands such as Odonil and Oxylife, grew 10.9%. The shampoo and hair oils categories also reported high double-digit growth, while the skin and salon business recorded high single-digit growth. The oral care category registered mid-single-digit growth.
The healthcare business grew 6.9%, supported by strong double-digit growth in its Digestives, OTC and Ethicals businesses.
Meanwhile, the Food and Beverages (F&B) business recorded 17.4% growth, driven by strong performance in the foods category and a gradual recovery in the beverages portfolio.
Dabur's international business also delivered a strong performance, growing 20% in constant currency terms. Growth was supported by key markets, including Bangladesh, Egypt, Sub-Saharan Africa and Turkey.
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