Indian Markets Rally for Fifth Consecutive Session
Benchmark indices extended gains, with the Sensex closing at 78,553.20 (+1.96%) and the Nifty 50 settling at 23,851.65 (+1.77%). The Nifty Bank index surged 1.59% to 55,155.75, driven by strong quarterly results from ICICI Bank and HDFC Bank. Financials led the charge, while the broader market mirrored the rally, with midcap and smallcap indices gaining ~4.5% weekly.
Global Corporate Highlights
- Jio Financial Services: Q4 revenue rose 18% YoY to ₹493.2 crore, though net profit growth slowed to 1.7% (₹316 crore).
- Infosys: Projected FY26 revenue growth of 0–3% (constant currency), below earlier guidance of 4.5–5%, triggering investor caution.
- Tech and Banking: U.S. tariff exemptions on electronics and auto components buoyed global IT and manufacturing sectors.
Key Developments Table
| Metric | India | Global Context |
|---|---|---|
| Equities | Nifty +1.77% | Mixed Asian markets |
| Banking Sector | Nifty Bank +1.59% | Fed rate cut speculation persists |
| Commodities | Crude stable | Gold dips on risk appetite |
| Currency | INR steady | USD weakens vs majors |
Sectoral Spotlight
- Financials: ICICI Bank and HDFC Bank drove gains after robust Q4 earnings.
- IT: Infosys’ subdued outlook weighed on sentiment, though sector resilience noted.
- Metals: Jindal Steel emerged as a top pick amid infrastructure spending hopes.
Macro Trends
India’s YTD banking returns hit 8.4%, outperforming broader indices. Analysts credit easing CPI and monsoon forecasts for fueling rate-cut optimism. Globally, markets eye U.S. policy shifts as tariff exemptions ease trade tensions.
What’s Next?
Traders will monitor RBI’s rate signals and Q4 earnings from midcaps. For global markets, Fed commentary and EU inflation data remain focal points.
