Domestic equity indices closed sharply higher on Wednesday, supported by strong corporate earnings and rising optimism about a possible early resolution to the ongoing Middle East conflict, among other positive cues that boosted investor sentiment. The Nifty 50 ended above the 24,150 level. Gains were led by FMCG, realty, and auto stocks, while media, PSU bank, and consumer durables shares lagged.
As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 609.45 points or 0.79% to 77,496.36. The Nifty 50 index surged 181.95 points or 0.76% to 24,177.65.
In the broader market, the BSE 150 MidCap Index shed 0.01% and the BSE 250 SmallCap Index rallied 0.54%.
The market breadth was positive. On the BSE, 2,122 shares rose and 2,110 shares fell. A total of 177 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.37% to 17.44.
Buzzing Index:
The Nifty FMCG index jumped 1.75% to 51,771.80. The index shed 0.32% in the past trading session.
ITC (up 3.89%), Radico Khaitan (up 2.1%), Tata Consumer Products (up 1.74%), Nestle India (up 1.65%) and Dabur India (up 1.26%), Hindustan Unilever (up 1.11%), Britannia Industries (up 0.96%), Emami (up 0.74%), Varun Beverages (up 0.63%) and Colgate-Palmolive (India) (up 0.37%) advanced.
On the other hand, United Spirits (down 0.81%), United Breweries (down 0.57%) and Marico (down 0.35%) edged lower.
Stocks in Spotlight:
Granules India added 0.22%. The company's consolidated net profit climbed 32.58% to Rs 201.56 crore on 22.81% increase in revenue from operations to Rs 1,470.60 crore in Q4 FY26 over Q4 FY25.
Greenply Industries surged 9.37% after the company's consolidated net profit surged 86.7% to Rs 31 crore on a 19.6% increase in net sales to Rs 776.25 crore in Q4 FY26 over Q4 FY25. Meanwhile, the board has recommended a final dividend of Rs 0.50 per equity share of face value Rs 1 each for the financial year ended March 31, 2026. The dividend will be paid within 15 days of shareholder approval at the company's forthcoming annual general meeting scheduled for 25 August 2026.
Bansal Wire Industries shed 0.67%. The company reported a 20.99% rise in consolidated net profit to Rs 40.07 crore in Q4 FY26 as against Rs 33.12 crore posted in Q4 FY25. Revenue from operations jumped 20.87% year-on-year (YoY) to Rs 1,136.36 crore in the quarter ended 31 March 2026.
Orient Cement added 0.20%. The company has reported 31.6% increase in net profit to Rs 55.36 crore despite a 21.6% fall in net sales to Rs 647.23 crore in Q4 FY26 as compared with Q4 FY25.
Garden Reach Shipbuilders & Engineers surged 7.31% after its standalone net profit surged 24.1% to Rs 303.20 crore in Q4 FY26, compared with Rs 244.25 crore in Q4 FY25. Revenue from operations jumped 29.1% YoY to Rs 2,119.21 crore during the quarter ended 31 March 2026.
Meanwhile, the board of directors recommended a final dividend of Rs 6.70 per equity share for the financial year 2025'26. The dividend recommendation is subject to approval of shareholders at the ensuing annual general meeting (AGM) of the company. Garden Reach Shipbuilders said the final dividend will be paid within 30 days from the date of its declaration at the 110th AGM.
CEAT rallied 3.13% after the company's consolidated surged over two-fold to Rs 243.85 crore in Q4 FY26 compared with Rs 99.49 crore in Q4 FY25. Net sales jumped 23.3% YoY to Rs 4,218.89 crore in Q4 FY26. Meanwhile, the company's board recommended a dividend of Rs 35 per equity share of face value of Rs 10 each fully paid up for FY26.
Artson slipped 3.30%. The company reported that its standalone net profit surged 460% to Rs 3.36 crore despite a 24.40% decline in revenue from operations to Rs 38.75 crore in Q4 FY26 over Q4 FY25.
Motherson Sumi Wiring India added 0.61%. The company reported a 1.44% increase in net profit to Rs 167.30 crore on a 32.88% rise in revenue from operations to Rs 3,334.62 crore in Q4 FY26 over Q4 FY25. The company has recommended a final dividend of Rs 0.58 per equity share of face value Rs 1 each for FY26, subject to shareholder approval at the company's upcoming annual general meeting.
REC fell 3.50% after the company reported a 21.69% year-on-year decline in consolidated net profit to Rs 3,375.08 crore in Q4 FY26, compared with Rs 4,309.98 crore in Q4 FY25. Total income fell 4.98% year-on-year to Rs 14,583.39 crore for the quarter ended 31 March 2026.
Meanwhile, the company's board has recommended a final dividend of Rs 1.55 per equity share of face value Rs 10 each for FY26, subject to shareholders' approval at the ensuing AGM. This is in addition to interim dividends of Rs 7 per share declared in four tranches, taking the total dividend to Rs 8.55 per share for FY26. The final dividend, if approved, will be paid within 30 days of the AGM.
AWL Agri Business slipped 2.56%. The company reported a 53.5% year-on-year rise in consolidated net profit to Rs 292 crore in Q4 FY26, compared with Rs 190 crore in Q4 FY25. Revenue from operations increased 18% YoY to Rs 21,465 crore during the quarter.
Meanwhile, the board of directors recommended a final dividend of Rs 1 per equity share of face value Rs 1 each, equivalent to 100%, for the financial year 2025'26. The dividend is subject to the approval of shareholders at the ensuing 28th annual general meeting. The company has fixed Friday, June 19, 2026, as the record date for determining the eligibility of members entitled to receive the dividend of ₹1 per equity share for FY26.
Emmvee Photovoltaic Power jumped 6.70% after the company reported robust financial results for the quarter and year ended 31 March 2026. For Q4 FY2026, consolidated revenue from operations stood at Rs 1,738.8 crore, up 62% year-on-year and 51% quarter-on-quarter. Profit after tax for Q4 FY2026 was Rs 392.4 crore, up 89% year-on-year and 49% quarter-on-quarter, with PAT margin at 23%
Bajel Projects rallied 3.22% after the company has secured two ultra-mega EPC contracts from an international client for establishing overhead transmission lines in Middle East and North Africa (MENA) Region. As per the company's classification, the combined order value falls under the ultra-mega category which includes contracts worth Rs 400 crore and above.
Bondada Engineering declined 2.52%. The company announced that it has secured multiple orders aggregating to Rs 125.30 crore from entities including Adani Green Energy, Adani Ports & SEZ and Ambuja Cements.
Shyam Metalics and Energy added 0.59% after the company announced a Rs 2,700 crore strategic growth expansion programme, aiming at expanding higher-margin product offerings, driving incremental topline growth.
Global Markets:
European market declined on Wednesday as U.S. Federal Reserve's latest interest rate decision, due later on today.
Asian market mostly ended higher despite Wall Street declined overnight as investors assessed the latest developments concerning OPEC as well as a report that pointed to weakness in OpenAI. Japanese markets were closed for a holiday.
The United Arab Emirates will exit OPEC on May 1, in a major blow to the cartel that coordinates production among many of the world's largest oil producers, particularly those in the Middle East.
Optimism around tech stocks took a hit after a media report stated that OpenAI's revenue and new user growth were below its own targets. The report added that CFO Sarah Friar told the company leadership that she was concerned OpenAI may not be able to pay computing contracts in the future if its top line doesn't expand fast enough.
Overnight in the U.S., The S&P 500 fell on Tuesday, weighed down by the report on OpenAI as well as a rise in oil prices. Traders await quarterly earnings from four of the 'Magnificent Seven' stocks, as well as the conclusion of what could be Jerome Powell's final policy meeting as Federal Reserve chair.
The broad market index fell 0.49% to close at 7,138.80, while the tech-heavy Nasdaq Composite shed 0.9% and ended at 24,663.80. The Dow Jones Industrial Average slid 25.86 points, or 0.05%, to settle at 49,141.93.
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