Indian equity markets traded firmly in the green during the session, supported by gains in banking, auto, realty and railway-related stocks. According to reports from ET Now, the benchmark Nifty index is holding above the crucial 23,980 mark, while Bank Nifty has surged close to 1.7 per cent, crossing the 55,000 level amid strong buying interest. As reported by ET Now, there has been no sell-on-rise visible in the market today, and Nifty is maintaining its upward momentum despite facing some resistance near the 24,000 mark. The positive sentiment was further boosted by renewed hopes of a US-Iran peace deal, with Brent crude futures falling below $100 per barrel for the first time in 11 sessions, reaching $97.73 per barrel.
Shares of Eicher Motors climbed more than 6% to an intraday high of ₹7,388.50 after the company reported strong quarterly results that significantly beat analyst expectations. For the March quarter, the company reported a consolidated net profit of ₹15.20 billion, representing a 12% year-on-year growth and surpassing Street estimates of ₹14.39 billion. The top line grew 16% year-on-year to ₹60.80 billion, higher than analysts' estimate of ₹59.41 billion. According to Informist Media, brokerages maintained bullish outlooks on the Royal Enfield maker, with Nomura expecting sales growth to remain strong over 2026-27 to FY28, citing strong demand and low inventory levels of less than two weeks. The company's management remained upbeat about demand for Royal Enfield motorcycles, highlighting healthy traction in both urban and rural India, while Elara Capital expects double-digit growth led by sustained demand momentum.
Railway-linked stocks witnessed strong gains after reports suggested that Indian Railways is preparing to launch a mega ₹40,000 crore tender to procure around one lakh freight wagons over the next three to four years. As reported by ET Now, stocks including Texmaco Rail & Engineering and Titagarh Rail Systems rallied as much as 10% during the session, while Jupiter Wagons also remained in focus. Jupiter Wagons gained attention after one of its subsidiaries signed formal agreements with renewable energy players for battery energy storage system (BESS) projects totaling 110 megawatts. The positive momentum was further supported by broader market optimism following US-Iran peace deal hopes.
Financial services companies led the market gains with Shriram Finance up 3% and Bajaj Finance rising 2-3%. Banking heavyweights HDFC Bank and ICICI Bank gained nearly 2% and 1% respectively, while peers Axis Bank, State Bank of India, and Kotak Mahindra Bank rose 1.3-2%. According to Informist Media, the Nifty PSU Bank, Nifty Bank, and Nifty Financial Services indices rose around 1.8-2.2% and were the highest gainers. The strong performance in financial stocks was supported by renewed optimism around US-Iran relations and easing crude oil prices.
Technical analysts remained positive on Dixon Technologies, which has rallied sharply in recent sessions. According to ET Now, the stock has broken above a key swing high and is trading above important moving averages, indicating strong momentum. Sterlite Technologies shares jumped 5% and hit the upper circuit after its subsidiary secured a multi-year contract worth USD 1.1 billion from an international hyperscale partner. The Nifty 50 was at 23,983.30, up 1.1%, while the BSE Sensex was at 76,344.17, up 1.2% at latest trading. Market experts noted that the Nifty 50 is expected to face resistance at 24,000-24,100 levels and find support at 23,650 levels in Monday's session.
