Although the benchmark indices opened higher, they traded on a positive note throughout the session and ultimately closed green.
Indian equity benchmarks indices, Sensex and Nifty50 finished higher, with pharma, private bank, and oil and gas shares providing support and traders awaiting the outcome of the Reserve Bank of India's policy meet outcome.
At the closing bell, the BSE Sensex closed 685 points higher (up 0.9%)
Meanwhile, the NSE Nifty closed 220 points higher (up 0.9%)
Trent, Kotak Mahindra, HUL are the top gainers today.
Tech Mahindra, Titan Company, Bajaj Finance on the other hand, were among the top losers today.
The GIFT Nifty was trading at 22,767 with 191 points higher at the time of writing.
The BSE 150 Midcap index is trading 1.2% higher and the BSE 250 SmallCap index is trading 1.3% higher.
Sectoral indices traded mixed today, with selling pressure witnessed in the realty sector and IT sector, while stocks in power sector and insurance sector attracted buying interest.
3 Reasons why Indian share Markets are rising:
#1 Buying in Bank Shares:
Banking stocks gained 0.6%-1.1%, led by Axis Bank, which rose 1.4%, and Kotak Mahindra Bank, which jumped 3.8%. The gains came after both banks reported growth in quarterly loans and deposits.
#2 Easing Crude Prices:
Brent crude prices remained around USD 101 a barrel after falling USD 2 in the previous session. Lower oil prices, helped by higher Middle East supplies, could support Indian market sentiment.
#3 Positive Global Cues:
Asian markets moved higher, supported by gains in US technology stocks and lower crude prices. European and US stock futures also traded higher, indicating a positive global market mood.
The rupee is trading at Rs 96.4 against the US$.
Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 1,49,741 per 10 grams.
Meanwhile, silver prices were trading 0.1% higher at 2,26,433 per 1 kg.
Trent Q2 FY27 Results
Shares of Trent came into focus after the company reported its Q2 FY27 results.
Trent, in an exchange filing on Monday, reported 23% Y-o-Y growth in standalone revenue to Rs 57.88 billion (bn) in Q2FY27, compared with Rs 47.24 bn in the same period a year ago. The growth was primarily driven by an increase in store count and was significantly ahead of Motilal Oswal Financial Services' estimate of 18%.
For H1FY27, standalone revenue grew 21% Y-o-Y to Rs 114.54 bn.
Revenue from the sale of merchandise, excluding other operating income, also increased 23% Y-o-Y during Q2FY27 and 21% Y-o-Y during H1FY27. Trent continued its rapid retail expansion during the quarter, opening its 1,000th Zudio store. The company's portfolio now comprises 1,342 stores across Westside, Zudio and other lifestyle brands.
During the September quarter, Trent added 10 net Westside stores and 17 net Zudio stores, according to the exchange filing.
Steamhouse India Q2 FY27 Results
Shares of newly listed company Steamhouse India came into focus after the company reported its Q2 FY27 results.
According to an exchange filing, Steamhouse India's Profit After Tax (PAT) increased 80.2% Y-o-Y to Rs 183.4 m in Q1FY27, compared with Rs 101.7 m in the same quarter a year ago.
Revenue from operations stood at Rs 1,286.2 m in Q1FY27, up from Rs 1,134.7 m in Q1FY26, registering a 13.35% Y-o-Y growth. The growth was primarily driven by a 46.07% Y-o-Y increase in steam sales, the company said.
Operational EBITDA, excluding other income, stood at Rs 309 m in the quarter, compared with Rs 193 m in Q1FY26, reflecting a 60.08% Y-o-Y increase. The company attributed the EBITDA performance to optimal utilisation of its waste-to-energy boilers and operating leverage from higher steam sales.
The company also recorded a 16.70% increase in steam volumes, selling 305,816 tonnes of steam during the quarter. Steamhouse supplies industrial steam to customers through a centralised utility model using dedicated pipeline infrastructure. The company serves more than 167 industrial clients across sectors including chemicals, textiles, pharmaceuticals, food processing, paper and manufacturing.
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