Although the benchmark indices opened higher, they traded positively throughout the session and ultimately closed green.
Indian equity benchmark indices, Sensex and Nifty50 snapped a five-day losing streak as oil prices slumped after the US and Iran paused strikes.
At the closing bell, the BSE Sensex closed 776 points higher (up 1%)
Meanwhile, the NSE Nifty closed 229 points higher (up 0.9%)
Eternal, Infosys, Bajaj Finance were the top gainers today.
HDFC Bank, Axis Bank, Power Grid Corp on the other hand, were among the top losers today.
The GIFT Nifty was trading at 24,045 with 217 points higher at the time of writing.
The BSE 150 Midcap index is trading 1.1% higher and the BSE 250 SmallCap index is trading 1.3% higher.
Baring telecommunication sector all other sectoral indices were trading positive today with IT sector and realty sector witnessed buying.
The rupee is trading at Rs 95.9 against the US$.
Gold prices for the latest contract on MCX are trading 0.4% higher at Rs 1,43,794 per 10 grams.
Meanwhile, silver prices were trading 0.7% higher at 2,23,736 per 1 kg.
6 reasons why the Indian share market is rising:
#1 Decline in Crude Oil Prices
Brent crude prices fell after easing tensions between the US and Iran reduced concerns over supply disruptions. Lower oil prices are positive for India as they help reduce inflation, lower import costs, and improve corporate profitability.
#2 Decline in India VIX
India VIX declined, indicating lower market volatility and improving investor confidence. Reduced uncertainty encouraged investors to increase their participation in the equity market.
#3 Firm Global Cues
Positive trends in Asian markets and gains in US markets supported investor sentiment. Strong global cues contributed to a broad-based rally in Indian equities.
#4 Buying in IT Shares
IT stocks gained after improved sector outlooks and strong buying in Infosys. Expectations that the US Federal Reserve may keep interest rates unchanged also boosted investor confidence.
#5 Rupee Appreciates
The Indian rupee strengthened against the US dollar due to lower crude oil prices and improving global sentiment. A stronger rupee reflects a better economic outlook and reduced pressure on imports.
#6 Positive Corporate Earnings
Strong quarterly earnings from companies such as Tata Consumer, NTPC, IDFC First Bank, and AU Small Finance Bank lifted market sentiment. Better financial performance increased investor confidence and supported the market's recovery.
SAIL Q1 Business Update
Shares of Steel Authority of India Ltd (SAIL) came into focus after the company reported its Q1 business update.
Steel Authority of India (SAIL) reported a 120.8% year-on-year (YoY) surge in consolidated net profit to Rs 16.44 billion in the first quarter of FY27, compared with Rs 7.45 billion in the corresponding quarter of the previous fiscal, primarily driven by lower operating expenses.
Total income increased 1.4% YoY to Rs 264.51 billion in Q1 FY27 from Rs 260.84 billion in the year-ago quarter.
However, crude steel production declined to 4.76 million tonnes (MT) during the quarter from 4.85 MT in Q1 FY26. Steel sales also fell to 4.16 MT, compared with 4.55 MT in the corresponding quarter of the previous year.
Mphasis Q1 Business Update
Shares of Mphasis came into focus after the company reported its Q1 business update.
Mphasis reported a 17.46% year-on-year (YoY) increase in revenue to Rs 43.84 billion in the first quarter of FY27, compared with Rs 37.32 billion in the corresponding quarter of the previous fiscal.
The company's consolidated net profit rose 10.82% YoY to Rs 4.90 billion in Q1 FY27 from Rs 4.42 billion a year earlier. However, on a sequential basis, net profit declined 3.94% from Rs 5.10 billion reported in the fourth quarter of FY26.
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