The domestic equity indices ended with strong gains on Monday, snapping a three-day losing streak. Sentiment was boosted by reports of Iran proposing a peace initiative to the US to ease geopolitical tensions, along with steady Q4 earnings updates. The Nifty 50 settled above the 24,050 mark. All sectoral indices on the NSE ended in the green, with pharma, realty, and healthcare stocks leading the gains.
As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 639.42 points or 0.83% to 77,303.63. The Nifty 50 index rallied 194.75 points or 0.81% to 24,092.70. In the past three consecutive trading session, the Sensex and Nifty declined 3.29% and 2.76%, respectively.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index surged 1.38% and the BSE 250 SmallCap Index soared 1.98%.
The market breadth was weak. On the BSE, 3,075 shares rose and 1,285 shares fell. A total of 211 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 6.77% to 18.38.
Buzzing Index:
The Nifty Pharma index jumped 2.62% to 23,171.85. The index tumbled 1.77% in the past trading session.
Sun Pharmaceutical Industries (up 6.90%), Gland Pharma (up 3.61%), Biocon (up 3.44%), J B Chemicals & Pharmaceuticals (up 2.45%), Torrent Pharmaceuticals (up 2.30%), Piramal Pharma (up 2.13%), Wockhardt (up 1.96%), Ajanta Pharma (up 1.78%), Divis Laboratories (up 1.71%) and Alkem Laboratories (up 1.60%).
On the other hand, Ipca Laboratories (down 0.62%) and Mankind Pharma (down 0.50%), edged lower.
Sun Pharmaceutical Industries jumped 6.90% after the company announced the signing of definitive agreement with Organon & Co. for acquiring all outstanding shares of Organon at an enterprise valuation of $11.75 billion.
Stocks in Spotlight:
Reliance Industries advanced 2.97%. The company reported a mixed performance for the March quarter, with profit declining even as revenue growth remained strong across key segments.
The company's consolidated profit after tax including share of profit/(loss) of associates and JVs fell 8.9% YoY to Rs 20,589 crore in Q4 FY26. Profit before tax stood at Rs 27,195 crore, down 6.6% YoY. Gross revenue rose 12.9% YoY to Rs 325,290 crore, supported by robust momentum in its oil-to-chemicals (O2C), digital services and retail businesses. However, the oil and gas segment weighed on overall performance due to a natural decline in KG-D6 gas production.
Varun Beverages jumped 5.98% after the company reported a 20.08% jump in consolidated net profit to Rs 872.35 crore in Q1 CY26 as compared with Rs 726.49 crore posted in Q1 CY25. Revenue from operations (excluding excise duty) surged 18.09% YoY to Rs 6,574.19 crore in the first quarter of 2026.
Axis Bank declined 3.18% after reporting a marginal 0.64% decline in standalone net profit to Rs 7,071.31 crore in Q4 FY26, compared with Rs 7,117.50 crore in Q4 FY25. Total income increased 1.90% year on year (YoY) to Rs 38,746.64 crore in Q4 FY26.
The bank has recommended a final dividend of Rs 1 per equity share (50% of face value, Rs 2) for FY26, subject to shareholder approval. The dividend, if approved, will be paid within 30 days of the AGM. The bank's board also approved plans to raise up to Rs 55,000 crore. This includes up to Rs 35,000 crore via debt instruments such as bonds and debentures and up to Rs 20,000 crore through equity issuance, including QIP, ADRs, GDRs or other permissible routes, subject to shareholder and regulatory approvals.
Shriram Finance slipped 3.83%. The company reported a 40.86% year-on-year (YoY) increase in standalone net profit to Rs 3,013.57 crore in Q4 FY26, compared with Rs 2,139.39 crore in the corresponding quarter last year. Total income rose 9.31% YoY to Rs 12,527.91 crore in the quarter ended 31 March 2026.
Meanwhile, the board has recommended a final dividend of Rs 6 per share (300% on a face value of Rs 2 each) for FY26, subject to shareholder approval at the upcoming 47th Annual General Meeting. The record date for determining eligible shareholders has been fixed as 3 July 2026. The board also approved a resource mobilisation plan for FY27, which includes raising funds through debt instruments such as non-convertible debentures (NCDs), subordinated debentures, external commercial borrowings, securitisation, and other borrowing avenues in domestic and international markets.
Further, the board approved the reappointment of Parag Sharma as Managing Director and CEO for a period of five years, from 13 December 2026 to 12 December 2031, subject to shareholder approval. In addition, Morihiko Fuji and Shinichi Fujinami have been appointed as additional directors in the category of non-executive, non-independent directors with effect from 24 April 2026, representing MUFG Bank.
Mahindra & Mahindra Financial Services surged 7.71% after the company's standalone net profit jumped 55.02% to Rs 872.98 crore in Q4 FY26 as against Rs 536.14 crore reported in Q4 FY25. Total income increased by 13.30% year on year to Rs 4,810.07 crore in the quarter ended 31 March 2026.
The company has recommended a dividend of Rs 7.50 per equity share of face value Rs 2 each (375%) for the financial year ended 31 March 2026. The dividend, if approved by shareholders at the annual general meeting (AGM) scheduled for Tuesday, 21 July 2026, will be paid thereafter through permitted modes to eligible shareholders or their authorized mandates.
L&T Finance shed 0.98%. The company reported a 26.79% rise in consolidated net profit to Rs 806.63 crore on an 18.47% increase in total income to Rs 4,771.10 crore in Q4 FY26 over Q4 FY25. The company has recommended a final dividend of Rs 2.75 per equity share (face value Rs 10) for FY26, subject to shareholder approval at the AGM. The dividend will be paid within 30 days of approval.
IndusInd Bank rallied 6.16% after the bank reported a standalone net profit of Rs 532.71 crore in Q4 FY26, compared with a net loss of Rs 2,235.99 crore in the corresponding quarter last year. The bank's board has recommended a final dividend of Rs 1.50 per equity share (15% on a face value of Rs 10) for FY26, subject to shareholder approval at the upcoming annual general meeting. The record date has been fixed as 26 June 2026.
IDFC FIRST Bank rallied 4.70% after the bank's standalone net profit rose 4.9% to Rs 318.94 crore on 7.73% increase in total income to Rs 12,182.81 crore in Q4 March 2026 over Q4 March 2025. The board recommended a dividend of Rs 0.25 per equity share of face value of Rs 10 each for the Financial Year 2025-26.
Avantel added 1.26% after the company reported a 21.5% year-on-year decline in consolidated net profit to Rs 4.77 crore in Q4 FY26, compared with Rs 6.08 crore in Q4 FY25. Revenue from operations rose 29.6% year-on-year to Rs 63.83 crore in Q4 FY26.
Mangalore Refinery and Petrochemicals (MRPL) declined 7.88% after the company's standalone net profit tumbled 67.1% to Rs 119.36 crore in Q4 FY26 over Q4 FY25. Revenue from operations (excluding net excise duty) slipped 2.6% YoY to 23,949.69 crore in the quarter ended 31st March 2026.
One MobiKwik Systems soared 10.59% after the company announced that it has received approval from the Reserve Bank of India for its Non-Banking Financial Company (NBFC) licence.
India Cements rallied 5.08% after the company's consolidated net profit surged 305.6% to Rs 59.50 crore on 2.6% increase in revenue from operations to Rs 1,228.85 crore in Q4 FY26 over Q4 FY25.
DCB Bank slipped 1.12%. The company reported a 1.12% rise in net profit to Rs 205.65 crore on an 8.06% increase in total income to Rs 2,118.78 crore in Q4 FY26 over Q4 FY25.
Meanwhile, the bank's board recommended a dividend of Rs 1.45 per equity share of face value Rs 10 each for FY26, subject to shareholders' approval at the ensuing AGM. The record date will be intimated in due course.
Tanla Platforms hit an upper circuit of 20% after the company's consolidated net profit jumped 2.25% to Rs 134.32 crore on 5.04% increase in revenue from operations to Rs 1,177.54 crore in Q4 FY26 over Q3 FY26.
Meanwhile, the company has declared a 2nd interim dividend of Rs 6 per equity share of face value of Re 1 each for FY26. The record date for the dividend payment has been fixed as 30 April 2026.
Supreme Petrochem dropped 5.41%. The company reported a 57.21% YoY rise in standalone net profit to Rs 168.04 crore on a 3.31% increase in revenue from operations to Rs 1,584.63 crore in Q4 FY26 over Q4 FY25.
Meanwhile, the board has recommended a final dividend of Rs 8 per equity share for FY26, subject to shareholders' approval at the AGM. Shareholders on record as of 14 July 2026 will be eligible, and the dividend will be paid on or after 1 August 2026.
One 97 Communications shed 0.84%. The company said that the board of Paytm Payments Bank (PPBL) has approved the winding-up of PPBL, following the cancellation of its banking licence by the Reserve Bank of India (RBI).
Lodha Developers advanced 4.88% after the company reported consolidated net profit jumped 9.2% to Rs 1,008.1 crore on an 11.6% increase in revenue from operations to Rs 4,713.5 crore in Q4 FY26 over Q4 FY25.
Global Markets:
US Dow Jones futures are down 84 points, indicating a negative start for US markets today.
European shares advanced on Monday as investors turned their focus to key central bank meetings later this week, with the U.S. Federal Reserve, European Central Bank (ECB) and Bank of England (BOE) all set to announce pivotal policy decisions amid war-driven uncertainty over inflation and growth.
The Federal Reserve's policy decision on Wednesday could mark Jerome Powell's final meeting as chair before Kevin Warsh is expected to take over in May.
The ECB and BOE are both scheduled to announce their latest monetary policy decisions on Thursday.
Asian markets ended mixed, with Japan and South Korea hitting record highs, although broader gains were capped by surging oil prices and stalled U.S.-Iran negotiations.
Sentiment held up despite U.S. President Donald Trump on Saturday scrapping plans to send U.S. envoy Steve Witkoff and Jared Kushner to Islamabad, Pakistan, for negotiations with Iran. Tensions in the Strait of Hormuz remain high after Iran's Revolutionary Guard reportedly boarded two cargo ships near the strategic sea lane.
Meanwhile, profits at China's industrial firms grew at their fastest pace in six months in March, even as the Middle East war upended global oil markets and sent raw material costs soaring.
Industrial profits jumped 15.8% from a year earlier in March, the sharpest growth since September last year, National Bureau of Statistics data showed Monday, accelerating from the 15.2% surge in the first two months of this year.
In the first three months this year, enterprise profits expanded 15.5%, the fastest start to a year since 2017, barring the pandemic-driven spike in 2021.
Last week, the S&P 500 and Nasdaq Composite closed at record levels on Friday after investors were given a hopeful sign that peace talks between the U.S. and Iran would soon take place in Pakistan.
The broad market index finished up 0.8% at 7,165.08, while the tech-heavy Nasdaq added 1.63% to settle at 24,836.60. Both indexes also scored fresh all-time intraday highs. However, the Dow Jones Industrial Average fell 79.61 points, or 0.16%, to end at 49,230.71.