As per provisional closing data, the barometer index, the S&P BSE Sensex surged 789.74 points or 1.06% to 75,398.72. The Nifty 50 index rose 277 points or 1.18% to 23,689.60. In two consecutive trading sessions, the Sensex jumped 1.13% while the Nifty 50 added 1.33%

The broader market underperformed the frontline indices. The BSE 150 MidCap Index climbed 0.95% and the BSE 250 SmallCap Index jumped 0.18%.

The market breadth was positive. On the BSE, 2,110 shares rose and 2,074 shares fell. A total of 189 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.18% to 18.61.

In the commodities market, Brent crude for July 2026 settlement rose 30 cents or 0.28% to $105.93 a barrel.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee hovered at 95.7350 compared with its previous close of 95.6650. Earlier in the session, the rupee hit a fresh record low of 95.9625 against the U.S. dollar amid elevated crude oil prices and sustained foreign portfolio investor (FPI) outflows, which continued to pressure the country's external balances.

Economy:

India's wholesale price inflation accelerated sharply to 8.30% YoY in April from 3.88% in March, surpassing market expectations of 4.4% and marking the highest level since October 2022. The sharp rise was primarily driven by higher fuel, manufacturing and food prices amid the impact of the Middle East crisis on global energy markets.

Fuel inflation surged 24.71% in April, the fastest pace since September 2022, led by a sharp increase in petrol prices (32.40% versus 2.50% in March) and high-speed diesel (HSD) prices (25.19% versus 3.26%). LPG prices also rebounded, rising 10.92% compared with a decline of 1.54% in March.

Meanwhile, manufacturing inflation accelerated to 4.62% from 3.39%, the highest since September 2022, driven by higher prices of textiles, leather, chemicals and chemical products. Food inflation rose to a 12-month high of 2.31%, mainly due to higher prices of eggs, meat & fish, and milk.

Buzzing Index:

The Nifty Pharma index rose 2.74% to 24,551.05. The index jumped 2.98% in the two consecutive trading sessions.

Cipla (up 8.19%), Zydus Lifesciences (up 5.77%), Ipca Laboratories (up 4.96%), Ajanta Pharma (up 4.32%), Gland Pharma (up 3.19%), Dr Reddys Laboratories (up 3.1%), Torrent Pharmaceuticals (up 2.89%), Laurus Labs (up 2.8%), Glenmark Pharmaceuticals (up 2.76%), and J.B. Chemicals & Pharmaceuticals (up 2.53%) jumped.

Stocks in Spotlight:

Bharti Airtel rose 5.53% after it reported a 10.47% quarter-on-quarter (QoQ) rise in consolidated net profit at Rs 7,325.1 crore for Q4 FY26, compared with Rs 6,630.4 crore in Q3 FY26. Revenue from operations increased 2.59% QoQ to Rs 55,383.2 crore in the March quarter from Rs 53,853.6 crore in the preceding quarter.

CARE Ratings surged 7.99% after the company's consolidated profit after tax stood at Rs 52.83 crore in Q4 FY26, up 23.98% from Rs 42.61 crore in Q4 FY25 and rose 47.16% from Rs 35.90 crore in Q3 FY26. Revenue from operations increased 19.17% YoY to Rs 130.67 crore in Q4 FY26 from Rs 109.65 crore in the corresponding quarter last year. Revenue rose 16.54% sequentially from Rs 112.12 crore in Q3 FY26.

Kaynes Technology India plunged 20.37% after the company's consolidated net profit declined 21.5% to Rs 91.22 crore despite a 26.22% increase in revenue from operations to Rs 1242.63 crore in Q4 FY26 over Q4 FY25.

Balaji Amines hit an upper limit of 20% after the company reported strong earnings growth for Q4 FY26. Consolidated profit after tax stood at Rs 63.21 crore in Q4 FY26, up 57.79% from Rs 40.06 crore in Q4 FY25 and surged 101.11% from Rs 31.43 crore in Q3 FY26. Revenue from operations increased 11.92% YoY to Rs 394.79 crore in Q4 FY26 from Rs 352.73 crore in the year-ago period. Revenue rose 19.16% sequentially from Rs 331.30 crore in Q3 FY26.

Oil India rose 2.17% after its standalone net profit jumped 12.44% to Rs 1,789.53 crore in Q4 FY26, compared with Rs 1,591.48 crore in Q4 FY25. PAT increased, supported by higher crude oil production (up 6%) and improved crude price realisation, which rose 5% to $77.89 per barrel from $74.46 per barrel in Q4 FY25. Revenue from operations (excluding excise duty) rallied 8% year-on-year (YoY) to Rs 5,960.59 crore for the quarter ended 31 March 2026.

NLC India surged 14.67% to Rs 376.40 after the company's consolidated net profit soared 189.12% to Rs 1393.46 crore on 31.45% jump in revenue from operations to Rs 5042.46 crore in Q4 FY26 over Q4 FY25.

Metropolis Healthcare jumped 2.30% after the company's consolidated net profit rose 74.67% to Rs 50.90 crore on 22.99% increase in revenue from operations to Rs 424.68 crore in Q4 FY26 over Q4 FY25.

ZF Commercial Vehicle Control Systems India rose 1.83% after its consolidated net profit jumped 15.47% to Rs 146.32 crore in Q4 FY26 from Rs 126.71 crore in Q4 FY25. The company's revenue from operations jumped 14.16% year on year (YoY) to Rs 1,155.23 crore in Q4 FY26.

Glaxosmithkline Pharmaceuticals rose 0.36%. The company's standalone net profit jumped 5.68% to Rs 274.94 crore on a 2.38% increase in revenue from operations to Rs 989.15 crore in Q4 FY26 over Q4 FY25.

DLF rose 1.76%. The company reported a marginal 1.06% year-on-year decline in consolidated net profit to Rs 1,268.56 crore for Q4 FY26, compared with Rs 1,282.20 crore in the corresponding quarter last year. Revenue from operations fell sharply by 41.99% YoY to Rs 1,814.06 crore in the quarter ended 31 March 2026.

Global Markets:

The US Dow Jones index futures are currently up by 275 points, signaling a positive opening for US stocks today.

European stocks advanced on Thursday as investors keep an eye on political developments in the U.K. and U.S. President Donald Trump's trip to China.

The UK economy expanded 0.6% in Q1 2026, in line with expectations and marking the strongest growth since Q1 2025, following a revised 0.2% rise in the previous quarter. Growth was driven by stronger services activity, particularly in wholesale and retail trade, while manufacturing and construction also contributed positively. On an annual basis, the economy grew 1.1%, surpassing market expectations of 0.8%.

Asian markets ended mixed as investors look to a high-stakes meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping for clues on the future of U.S.-China ties and global trade.

Trump landed in Beijing Wednesday for the closely watched summit, accompanied by a group of U.S. executives, including Tesla CEO Elon Musk and Nvidia boss Jensen Huang.

Samsung shares rose as much as 5.46%, notching a fresh record high. The tech giant suffered a brief wipeout of $66 billion in market value on Wednesday following a labor dispute that threatened one of the biggest strikes in the company's history.

This comes as the labor union threatened an 18-day strike from May 21 if its demands were not met. More than 41,000 workers are expected to join the walkout, which was first announced at a rally on April 23.

South Korea's finance minister Koo Yun-cheol warned Thursday that a potential strike by Samsung workers could pose a major threat to the country's economic growth, exports and financial markets.

Overnight on Wall Street, the S&P 500 rose to a new all-time high as traders' enthusiasm for the technology trade overshadowed yet another hotter-than-expected inflation report.

The broad market index rose 0.58% to 7,444.25, and the tech-heavy Nasdaq added 1.2% to end at 26,402.34. Both hit fresh intraday and closing records. The Dow Jones Industrial Average shed 67.36 points, or 0.14%, ending at 49,693.20.

Wholesale prices in the US in April posted their highest annual increase in more than three years, signaling more nettlesome inflation as pipeline costs intensify.

The producer price index rose a seasonally adjusted 1.4% for the month, much higher than the upwardly revised 0.7% March increase, the Bureau of Labor Statistics reported Wednesday. This was the largest monthly gain since March 2022. On an annual basis, the index was up 6%, the biggest increase since December 2022.

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