The NSE Nifty 50 closed 269 points higher at 24,120, while the BSE Sensex surged 855 points to end at 79,409. The Nifty Bank index jumped 1,014 points, or nearly 2%, to finish at 55,305, supported by strong quarterly results from ICICI Bank and HDFC Bank.
“In my own view, if there is one place where you can find valuation comfort at the same time the upside of growth, that is financials. Now, we are seeing that discretionary consumption is struggling, and the government put in measures, as far as in the budget, in terms of increasing the tax threshold, plus a good monsoon and rural – you should see consumption come back in the second half. Capex spending should also start seeing an uptick as we go ahead. So they are very well placed for growth as far as the balance sheet is concerned, as far as the regulatory framework is concerned. And hence we think that space has got a long way to go,” Nitin Raheja, Executive Director, Julius Baer India said.
The broader market also participated in the rally, with the Nifty Midcap 100 rising 1,317 points to 53,974, as midcap banks saw gains of 4–5% across the board.
Investor sentiment was buoyed by solid earnings reports and positive management commentary from key corporates. ICICI Bank and HDFC Bank led financial stocks higher, lifting the sectoral index as optimism around earnings and asset quality drove buying interest. IndusInd Bank rose 4% in today’s trade and is now up 28% month-to-date.
The market breadth remained decisively positive, with the advance-decline ratio at 4:1, signaling strong investor confidence. In total, the market capitalization of BSE-listed firms increased by over ₹6 lakh crore in a single day to ₹426 lakh crore.
Among sectoral movers, IT stocks rebounded sharply following upbeat FY26 growth guidance from Infosys. Shares of Tata Elxsi rose 9%, shrugging off a weak Q4 print, as investors responded positively to forward-looking commentary. Capital market-linked stocks continued to benefit from the broader rally, with BSE and CDSL climbing 6% each.
In the midcap space, Vodafone Idea was among the top gainers, soaring 10% on heavy volumes. AU Small Finance Bank advanced 7% ahead of its Q4 results, while Havells India also ended higher. Divi’s Laboratories gained 4% after signing a long-term agreement with a global pharmaceutical major, further boosting sentiment in the pharma sector.
City gas distribution companies and GAIL India saw gains of 2–5% on favorable regulatory developments. Meanwhile, HDFC Life ended the day slightly lower after the management issued a cautious outlook for the first half of FY26.
Seven Nifty constituents, including HDFC Bank, ICICI Bank, and Eicher Motors, scaled record highs during the session, underscoring the market’s strength across large caps.
The upbeat momentum, supported by earnings optimism and healthy global cues, helped Indian markets defy concerns around geopolitical tensions and rising crude prices, with investors now eyeing more corporate results in the coming weeks for direction.
