The Nifty 50 rose 0.27% to 24,297, while the Sensex gained 0.28% to 78,318.41 as of 10:09 a.m. IST. This followed a jump to a one-month high a day earlier after the United States said talks with Iran could resume soon, News.Az reports, citing Reuters.
U.S. President Donald Trump said Israel and Lebanon will hold talks later in the day. Separately, a source briefed by Tehran told Reuters that Iran could consider allowing ships to sail freely through the Omani side of the Strait of Hormuz without risk of attack, as part of proposals it has offered in negotiations.
In India, 11 of the 16 major sectors advanced, while broader small-cap and mid-cap indices rose 0.5% and 0.3%, respectively.
“Investors are hoping for a positive outcome on the Middle East conflict due to the planned negotiations, which is aiding broad-based buying support in markets,” said Ankur Punj, managing director and business head at Equirus Wealth in New Delhi.
Heavyweight financial stocks rose 0.6%. Jefferies said banks are trading at valuations close to pandemic lows, making the risk-reward attractive for the sector.
The second-heaviest blue-chip sector, information technology, gained 0.8%, extending a 2.8% rise from the previous day.
Metals rose 1.5%, with Hindalco and Nalco both climbing 2.5% after Kotak Securities upgraded the shares to “reduce” from “sell”, citing higher aluminium prices.
Vedanta added 2.1% after Kotak Securities reiterated that it remains its top pick among aluminium producers.
HDB Financial climbed more than 7% after reporting a 41.4% rise in quarterly profit, driven by growth in its consumer portfolio and improving asset quality.
On the other hand, broadband services provider GTPL Hathway and telecom and data networking firm Tejas Networks fell 5.5% and 4.5%, respectively, after reporting wider losses.
