The key equity benchmarks traded with major gains in the afternoon trade, driven by robust earnings, growing optimism over a potential early end to the ongoing conflict in the Middle East, and other supportive factors that lifted investor sentiment. The Nifty climbed above the 24,300 level
At 13:30 ST, the barometer index, the S&P BSE Sensex climbed 1,028.75 points or 1.34% to 77,915.12. The Nifty 50 index soared 320.70 points or 1.34% to 24,315.40.
In the broader market, the BSE 150 MidCap Index jumped 0.68% and the BSE 250 SmallCap Index surged 0.93%.
The market breadth was strong. On the BSE, 2,468 shares rose and 1,635 shares fell. A total of 179 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 5.06% to 17.13.
Gainers & Losers:
ITC (up 4.27%), Maruti Suzuki India (up 3.92%), Tech Mahindra (up 3.71%) and Coal India (up 3.54%) were the major Nifty50 gainers.
InterGlobe Aviation (down 0.77%), Dr. Reddy's Laboratories (down 0.62%), Apollo Hospitals Enterprise (down 0.45%) and JSW Steel (down 0.25%) were the major Nifty50 losers.
Stocks in Spotlight:
CEAT surged 4.12% after the company's consolidated surged over two-fold to Rs 243.85 crore in Q4 FY26 compared with Rs 99.49 crore in Q4 FY25. Net sales jumped 23.3% YoY to Rs 4,218.89 crore in Q4 FY26. The company said healthy YoY volume growth was witnessed across segments, while its international business continued to perform well and emerged as the fastest-growing segment on a YoY basis.
Greenply Industries advanced 8.98% after the company's consolidated net profit surged 86.7% to Rs 31 crore on a 19.6% increase in net sales to Rs 776.25 crore in Q4 FY26 over Q4 FY25.
Garden Reach Shipbuilders & Engineers surged 8.39% after its standalone net profit surged 24.1% to Rs 303.20 crore in Q4 FY26, compared with Rs 244.25 crore in Q4 FY25. Revenue from operations jumped 29.1% YoY to Rs 2,119.21 crore during the quarter ended 31 March 2026.
Global Markets:
European shares opened lower on Wednesday as investors monitored a fresh wave of corporate earnings and weighed the United Arab Emirates' unexpected exit from the OPEC oil cartel.
Asian markets traded mixed after Wall Street declined overnight as investors assessed the latest developments concerning OPEC as well as a report that pointed to weakness in OpenAI. Japanese markets were closed for a holiday.
The United Arab Emirates will exit OPEC on May 1, in a major blow to the cartel that coordinates production among many of the world's largest oil producers, particularly those in the Middle East.
Optimism around tech stocks took a hit after a media report stated that OpenAI's revenue and new user growth were below its own targets. The report added that CFO Sarah Friar told the company leadership that she was concerned OpenAI may not be able to pay computing contracts in the future if its top line doesn't expand fast enough.
Overnight in the U.S., The S&P 500 fell on Tuesday, weighed down by the report on OpenAI as well as a rise in oil prices. Traders await quarterly earnings from four of the 'Magnificent Seven' stocks, as well as the conclusion of what could be Jerome Powell's final policy meeting as Federal Reserve chair.
The broad market index fell 0.49% to close at 7,138.80, while the tech-heavy Nasdaq Composite shed 0.9% and ended at 24,663.80. The Dow Jones Industrial Average slid 25.86 points, or 0.05%, to settle at 49,141.93.
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