The Indian stock market closed Monday’s session with healthy gains as progress in US-Iran peace talks, strong buying in pharmaceutical stocks, and a sharp recovery in domestic technology shares helped the benchmark indices recover a portion of Friday’s losses.
The Nifty 50 ended the session 0.37% higher at 24,102, holding above the 24,000 mark for the fourth consecutive session. The Sensex closed at 77,044, up 0.31% from its previous close.
The broader markets also finished in positive territory, with the Nifty Midcap 100 and Nifty Smallcap 100 indices ending higher. Among sectoral indices, Nifty Media led the gains with a 1.42% rise, followed by Nifty Pharma, Nifty Oil & Gas, Nifty IT, and Nifty Metal, which advanced between 0.5% and 1.4%.
In the commodity market, crude oil prices retreated following reports that the US and Iran had agreed on a roadmap aimed at reaching a final peace agreement within 60 days. The proposed framework includes the formation of a committee and a mechanism to help end hostilities in Lebanon.
“Encouraging progress has been made, including the creation of a mechanism for further technical talks,” mediators Qatar and Pakistan said in a joint statement.
However, the conflict in Lebanon remains one of the key sticking points. The latest developments followed a mixed start to the talks on Sunday, after media reports suggested that Iran had paused discussions following renewed warnings from US President Donald Trump of potential military action if Hezbollah continued attacks on Israel.
The two sides have agreed to establish a “de-confliction cell” involving the concerned parties and Lebanon to help ensure compliance with the cessation of military operations, according to the mediators.
Kirloskar Oil Engines leads rally; pharma, Adani and Gabriel India gain
Kirloskar Oil Engines topped the gainers’ chart, with the stock surging 20% to ₹2,390 apiece after the company announced a significant order related to large-scale data centre infrastructure.
Triveni Turbine, Poly Medicure, Aegis Logistics, IDBI Bank, Urban Company, Mankind Pharma, Lemon Tree Hotels, and Delhivery were among the other major gainers, rising between 5% and 10%.
Meanwhile, Cipla shares closed 5% higher after global brokerage firm Citi maintained its ‘Buy’ rating on the stock and retained a target price of ₹1,700. Other pharmaceutical stocks also witnessed strong buying interest, with Mankind Pharma and Ajanta Pharma gaining 4.7% and 4.1%, respectively.
Extending its ongoing bull run, Gabriel India advanced another 4% to ₹1,241, taking its cumulative gain over the last three trading sessions to 11%. Among Adani Group stocks, Adani Green Energy and Adani Energy Solutions rose 3.2% and 2.1%, respectively.
PVR INOX shares rebounded 3% to ₹979 apiece following a two-day sell-off, while NHPC attracted fresh buying interest and gained 3% to close at ₹78.22 apiece.
Financials, NBFCs and consumer stocks lead losers’ pack
Aadhar Housing Finance, Anthem Biosciences, Piramal Finance, Varun Beverages, Five-Star Business Finance, and Tata Capital were among the top laggards of the session, declining between 3% and 4%.
Selling pressure was also visible across several other counters, with SAIL, Birlasoft, IndusInd Bank, IFCI, LG Electronics India, Aster DM Healthcare, Himadri Speciality Chemical, PTC Industries, TBO Tek, and SBFC Finance falling more than 2% each.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.