The benchmark indices moved in tandem during morning trade, with the Nifty 50 rising 0.63% to 23,806.6 and the BSE Sensex gaining 0.53% to 75,720.79 as of 9:55 a.m. IST. Broader sentiment remained positive across sectors, with all 16 major industry groups posting gains, while small-cap and mid-cap indices advanced 1% and 0.7% respectively.
Geopolitical Signals Ease Market Pressure
Investor mood improved after U.S. President Donald Trump indicated that negotiations with Iran were nearing completion, raising expectations of a possible agreement to calm tensions in the Middle East. Market participants interpreted the development as supportive for global stability, particularly in energy markets.
Crude prices responded to shifting sentiment, with Brent crude falling sharply by 5.6% in the previous session before edging up 0.8% on Thursday, hovering near $106 per barrel. Additional signs of easing supply pressure came as shipping data showed two Chinese oil tankers exiting the Strait of Hormuz.
According to Aakash Shah, technical research analyst at Choice Broking, “Markets have gained momentum as investors turn optimistic over a possible resolution of the ongoing Middle East conflict.” He added that while “momentum indicators suggest bearish pressure is easing,” broader caution remains due to lingering global uncertainties.
Earnings Drive Stock-Specific Moves
Corporate results also played a key role in shaping individual stock movements. Apollo Hospitals Enterprise climbed 2.4% to a record high after reporting stronger quarterly profits, driven by increased demand for complex medical procedures as well as growth in its pharmacy and digital health segments.
Lenskart Solutions surged 6% following robust revenue growth of about 46% year-on-year in the March quarter, reflecting continued expansion in its eyewear retail business.
Meanwhile, Grasim Industries rose 4.3% to a record high after narrowing its fourth-quarter loss, supported by stronger performance across its core operations.
On the downside, Ola Electric Mobility slipped 4% after reporting weaker quarterly revenue. Brokerages flagged ongoing pricing pressure and execution challenges as potential headwinds to future growth and profitability.
Mixed Sentiment but Broad-Based Gains
Despite selective weakness in some consumer and manufacturing names, the overall market tone remained upbeat, underpinned by falling energy costs and improving global risk appetite. However, analysts noted that sustained volatility in geopolitics and commodity prices could continue to influence short-term direction.