Indian equity markets opened Wednesday's trading session in the red, with the S&P BSE Sensex declining 265.55 points or 0.52% to 74,806.49 and the Nifty 50 index falling 153.25 points or 0.68% to 23,457.25 as of 09:27 IST. According to Team Dhan, the market decline was attributed to weakness in Asian markets ahead of NVIDIA's earnings announcement and rising tensions in the Middle East. The broader market indices showed mixed performance with the BSE 150 MidCap Index rising 0.35% while the BSE 250 SmallCap Index declined 0.09%. Market breadth remained positive with 1,957 shares rising and 2,071 shares falling on the BSE, while 199 shares remained unchanged.
The Nifty Oil & Gas index advanced 1.36% to 11,333.10, marking its second consecutive trading session of gains with a 1.52% rise over two sessions. As reported by Business Standard, major oil and gas companies led the sector's performance with Reliance Industries surging 2.59%, Hindustan Petroleum Corporation up 2.49%, Aegis Logistics gaining 2.07%, Chennai Petroleum Corporation rising 1.62%, and Bharat Petroleum Corporation advancing 1.55%. Other notable gainers included Indian Oil Corporation up 1.41%, Oil India rising 0.8%, Oil & Natural Gas Corpn gaining 0.74%, and Aegis Vopak Terminals up 0.06%. The oil & gas shares witnessed buying demand for second consecutive trading session, supported by the decline in crude oil prices.
Bluspring Enterprises jumped 6.16% following strong Q4 FY26 results, recording a consolidated net profit of ₹4.12 crore compared to a net loss of ₹19.74 crore in Q4 FY25. According to Business Standard, the company's revenue rose 7.9% year-on-year to ₹864.80 crore in the March 2026 quarter. In contrast, Siyaram Silk Mills declined 4.22% despite reporting a 30.6% increase in standalone net profit to ₹94.60 crore on a 15.8% increase in revenue from operations to ₹852.60 crore in Q4 FY26 over Q4 FY25. Vodafone Idea reported a consolidated net profit of ₹51,970 crore for the March quarter, largely driven by a one-time accounting gain linked to AGR liabilities, though revenue growth remained muted at around 3% year-on-year, raising concerns about the company's ability to compete effectively in the highly competitive telecom market.
Apollo Micro Systems surged to a record high on Wednesday, extending gains for a third straight session after reporting strong March-quarter performance. The stock jumped as much as 24% over the last three trading sessions, driven by a 169% year-on-year jump in consolidated net profit and 81.3% surge in revenue from operations. EBITDA rose nearly 88%, with EBITDA margin improving to 23.1% from 22.2% a year ago. For the full FY26 financial year, the company posted revenue of ₹904 crore, up 61% year-on-year, marking its highest-ever annual revenue performance. Ola Electric Mobility extended gains ahead of upcoming earnings, helped by optimism around potential government incentives worth more than $1 billion to encourage electric vehicle adoption. The stock has emerged as a standout performer in the defence pack, aided by the government's push for indigenous defence manufacturing and higher defence procurement spending.
The Indian rupee edged lower against the dollar, hovering at 96.8350 compared with its previous close of 96.7000 and touching an all-time intraday low of 96.9575. As reported by Business Standard, MCX Gold futures for June 2026 settlement declined 0.21% to ₹158,751, while the US Dollar Index (DXY) was up 0.08% to 99.41. In the commodities market, Brent crude for July 2026 settlement declined $2.05 or 1.84% to $109.23 a barrel. The yield on India's 10-year benchmark federal paper declined 0.11% to 7.103 compared with the previous session close of 7.121. In the bond market, the United States 10-year bond yield declined 0.25% to 4.650 while the 30-year Treasury bond yield fell 0.25% at 5.168.
