After opening the day on positive note, Indian share markets continued the momentum as the session progressed and ended on firm footing.

Benchmark indices swung sharply in trades on Thursday as investors adjusted their positions during the weekly F&O expiry.

At the closing bell, the BSE Sensex stood higher by 676 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 203 points (up 0.9%).

M&M, Bharti Airtel, and Tech Mahindra were among the top gainers today.

Maruti Suzuki, Tata Motors, and SBI on the other hand, were among the top losers today.

The GIFT Nifty was trading at 22,482, up by 223 points, at the time of writing.

The BSE MidCap index ended and the BSE SmallCap index ended 1% higher.

Sectoral indices are trading positively with stocks in the realty sector, IT sector, and FMCG sector witnessing the most buying.

Shares of Hitachi Energy, ABB India, and SKF India hit their respective 52-week highs today.

The rupee is trading at 83.49 against the US$.

Gold prices for the latest contract on MCX are trading marginally lower at Rs 73,070 per 10 grams.

Meanwhile, silver prices were trading 0.3% higher at Rs 87,121 per 1 kg.

Here are three reasons why Indian Markets are rising today

#1 Upbeat Global Market

Asian equities rallied Thursday after US data showed inflation cooled last month, fuelling speculation that the Federal Reserve will cut interest rates twice this year.

The news sent all three main indexes on Wall Street to record highs, with confidence given an extra boost by figures showing retail sales well below expectations, suggesting consumers were taking a step back.

#2 Rupee Factor

The Indian rupee rose slightly on Thursday, aided by a drop in US bond yields and a weak dollar after soft US inflation data boosted hopes that the Federal Reserve may begin easing policy rates from September.

#3 Index Heavyweights Rally

M&M, Tata Consumer Products, Tech Mahindra, Infosys, Titan, and HDFC Life were the top gainers on the 50-stock index, rising between 2% and 4%, driving the market sentiment
 

HAL Q4 Results

Leading defense public sector utility Hindustan Aeronautics on 16 May reported a 52% year-on-year growth in net profit at Rs 43.1 bn.

The company's revenue from operations jumped 18% year-on-year to Rs 147.7 bn for the quarter ended March. The same stood at Rs 124.9 bn in the corresponding quarter of last year.

On a sequential basis, profit more than doubled from Rs 12.6 bn reported in the preceding December quarter. Revenue, too, rose by a massive 140% quarter-on-quarter (QoQ), Q3 is a historically weak quarter for HAL.

HAL, whose customers include the Indian Army, Navy, and Air Force, along with aerospace corporations Airbus and Boeing, said its margins during the March quarter improved to 35% as against 25.9% a year ago.

For the March quarter, the state-owned defense major's expenses fell 8% to Rs 95.4 bn from Rs 103.6 bn a year ago.

The company has reported an EBITDA (earnings before interest, tax, depreciation, and amortization) of Rs 54.7 bn during the January-March period, which is higher by 60%, compared with Rs 32.4 bn in the year-ago period.

For the full year ended March 2024, HAL's consolidated net profit increased 31 percent to Rs 76.2 bn crore as compared to Rs 58.3 bn posted in FY23.

Revenue from operations during the year jumped 13% to Rs 303.8 bn. The same stood at Rs 269.3 bn in fiscal 2023.

During the March quarter, the government came up with an Offer for Sale (OFS) in HAL, which managed to sail through despite tough market conditions.

M&M Q4 Results

Auto major Mahindra & Mahindra Ltd (M&M) said on 16 May that its standalone net profit rose 32% in the March quarter to Rs 20.4 bn owing to the robust performance of the automotive segment, favorable product mix, and operating leverage benefits. It reported a standalone net profit of Rs 15.5 bn in the year-ago period.

The homegrown automaker's standalone revenue from operations rose 11% to Rs 251.1 bn in Q4FY24 as against Rs 225.7 bn in a year ago.

The carmaker said its board approved a dividend of Rs 21.1 per equity share of Rs 5 face value.

Mahindra sold 27.2% more SUVs in the quarter from a year earlier.

The company's automotive business brings in almost two-thirds of total revenue and includes the sale of commercial vehicles and SUVs such as Scorpio and Thar.

However, earnings for India's largest tractor-maker by sales were pressured by a 21.5% fall in tractor and farm equipment sales, as sub-par rains affected rural demand.

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