Sensex, Nifty trade near flat line; European mrkt advance

The key equity barometers hovered near flat levels with slight gains in afternoon trade as investors remained optimistic over a potential US'Iran peace deal. Softer geopolitical tensions dragged Brent Crude prices below $110, while the rupee strengthened to hover near the 95-per-dollar mark. However, investors remain focused on Q4 earnings for near-term cues. The Nifty traded above the 24,050 mark. Realty shares advanced after declining in the previous trading session.

At 13:25 IST, the barometer index, the S&P BSE Sensex rose 14.70 points or 0.03% to 77,032.64. The Nifty 50 index jumped 46.15 points or 0.19% to 24,078.95.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index advanced 1.15% and the BSE 250 SmallCap Index rose 1.12%.

The market breadth was strong. On the BSE, 2,307 shares rose and 1,173 shares fell. A total of 169 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.18% to 17.70.

In the commodities market, Brent crude for June 2026 settlement declined $2.96 or 2.69% to $106.91 a barrel.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.0500 compared with its close of 95.1800 during the previous trading session.

Gainers & Losers:

Dr Reddy's Laboratories (up 3.69%), Trent (up 2.99%), Interglobe Aviation (up 2.71%) and Cipla (up 2.38%) were the major Nifty50 gainers.

Larsen & Tourbro (down 3.22%), ONGC (down 2.07%), Reliance Industries (down 2%) and Kotak Mahidra Bank (down 1.18%) were the major Nifty50 losers.

Larsen & Toubro (L&T) declined 3.22% after the company reported a 3.12% decline in consolidated net profit to Rs 5,325.60 crore, despite a 11.25% increase in revenue from operations to Rs 82,762.16 crore in Q4 FY26 over Q4 FY25.

Economy:

HSBC India Services PMI Business Activity Index rose from 57.5 in March to 58.8 in April, showing the strongest rate of expansion since last November. Indian services companies welcomed a recovery in growth of both output and new order intakes during April. In addition to increased e-commerce and greater underlying demand, firms indicated that a shift from international to domestic suppliers amid the war in the Middle East particularly boosted transport activity.

The HSBC India Composite PMI Output Index was up from 57.0 March to 58.2 in April 2026, signalling a historically strong rate of expansion.

Stock in Spotlight:

Coforge soared 9.39% after the company reported a 144.72% surge in consolidated net profit to Rs 612.3 crore on 5.17% jump in revenue from operations to Rs 4450.4 crore in Q4 FY26 over Q3 FY26.

Raymond Realty surged 15.56% after the company reported a sharp rise in consolidated net profit to Rs 161.12 crore in Q4 FY26, up over 67 times from Rs 2.40 crore a year earlier. Revenue from operations surged 888.24% YoY to Rs 1,156.74 crore in Q4 FY26.

KPI Green Energy surged 6.18% after its consolidated net profit jumped 49.23% to Rs 155.47 crore in Q4 FY26, compared with Rs 104.18 crore in Q4 FY25.

Hero MotoCorp shed 0.30%. The company has reported 29.62% rise in standalone net profit to Rs 1,401.13 crore on a 28.75% increase in revenue from operations from Rs 12,796.53 crore in Q4 FY26 over Q4 FY25.

SRF rose 7.96% after the company reported a 10.6% surge in consolidated net profit to Rs 582.02 crore in Q4 FY26, compared with Rs 526.06 crore in Q4 FY25. Total revenue from operations rose 7% year on year (YoY) to Rs 4,615.17 crore in the quarter ended 31 March 2026.

United Breweries (UBL) reported a 4.31% jump in consolidated net profit to Rs 101.78 crore in Q4 FY26, compared with Rs 97.57 crore in Q4 FY25. Revenue from operations (excluding excise duty) fell 3.14% YoY to Rs 2,250.07 crore in Q4 FY26.

Vodafone Idea rose 2.78% after the telecom operator appointed Kumar Mangalam Birla as the non-executive chairman of its board, marking his return to the role after nearly five years.

National Stock Exchange of India reported a consolidated total income of Rs 5,360 crore for Q4 FY26, up 21.9% QoQ and 21.9% YoY. Revenue from operations stood at Rs 4,968 crore in Q4 FY26, rising 26.6% QoQ and 31.7% YoY.

Global Markets:

Europe and Asia market advanced on Wednesday, tracking Wall Street gains overnight, after oil prices dropped and strong earnings lifted investor sentiment.

Signaling diplomatic efforts for resolving the Middle East crisis were on track, President Donald Trump said the U.S. bid to guide ships out of Strait of Hormuz had been paused.

'We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom will be paused for a short period of time to see whether or not the Agreement can be finalized and signed,' Trump said in his Truth Social post.

The U.S. military on Monday began guiding commercial ships out of the Strait of Hormuz under Project Freedom. U.S. Defense Secretary Pete Hegseth on Tuesday said that 'two U.S. commercial ships, along with American destroyers, have already safely transited the strait, showing the lane is clear.'

Overnight on Wall Street, U.S. stocks ended higher on Tuesday, while oil prices slid as traders reacted to a number of solid earnings results.

The S&P 500 rose 0.81%, hitting a new all-time high and closing at a record of 7,259.22. The Nasdaq Composite gained 1.03%, touching a new high and notching a closing record of 25,326.13. The Dow Jones Industrial Average added 356.35 points, or 0.73%, to end at 49,298.25.

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