Banking, consumer and auto shares advanced while media, realty and pharma stocks capped the gains.

At 09:25 IST, the barometer index, the S&P BSE Sensex added 417.56 points or 0.56% to 75,605.89. The Nifty 50 index rose 115.30 points or 0.49% to 23,775.30.

In the broader market, the BSE 150 MidCap Index unchanged and the BSE 250 SmallCap Index shed 0.06%.

The market breadth was strong. On the BSE, 1,818 shares rose and 1,245 shares fell. A total of 165 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,891.21 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,492.42 crore in the Indian equity market on 21 May 2026, provisional data showed.

Stocks in Spotlight:

ITC fell 0.93%. The company reported a 72.68% year-on-year (YoY) decline in consolidated net profit to Rs 5,387.97 crore for the fourth quarter ended March 2026, compared with Rs 19,727.37 crore posted in the corresponding quarter last year. Net sales (excluding excise duty) declined 5.04% YoY to Rs 17,628.89 crore during the quarter under review.

Max Healthcare Institute declined 6.87%. The company reported a 7.27% increase in net profit to Rs 342.22 crore for the fourth quarter ended March 2026, compared with Rs 319 crore posted in the corresponding quarter last year. Revenue from operations rose 12.20% YoY to Rs 2,142.89 crore during the quarter.

Honasa Consumer rallied 7.57% after the company reported a 177% jump in consolidated net profit to Rs 69.2 crore from Rs 25 crore, while revenue increased 23.1% to Rs 657 crore in Q4 FY26 over Q4 FY25.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined 0.18% to 7.105 compared with the previous session close of 7.118.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 96.2400 compared with its close of 96.3650 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement declined 0.17% to Rs 159,729.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was unchanged at 99.19.

The United States 10-year bond yield declined 0.37% to 4.573.

In the commodities market, Brent crude for July 2026 settlement advanced $1.73 or 1.69% to $104.31 a barrel.

Global Markets:

Asia market traded higher Friday as investors assess U.S.-Iran diplomatic efforts at reaching a peace deal in the Middle East.

Tehran intending to keep its enriched uranium stockpile within the country, according to a media report, could complicate negotiations with Washington, as President Donald Trump has made dismantling Iran's nuclear program a central objective of his military action against Tehran.

On the data front, Japan's core inflation eased more than expected in April to its lowest level since March 2022, weakening the case for an early rate hike by the Bank of Japan. Core inflation, which strips out prices of fresh food, came in at 1.4%, lower than the 1.7% figure that was widely reported in the media and below the 1.8% reading in March.

Overnight on Wall Street, the Dow Jones Industrial Average rose to a record close Thursday as oil prices and Treasury yields were volatile, with traders hoping for a resolution to the Middle East conflict.

The blue-chip index gained 276.31 points, or 0.55%, for a closing record of 50,285.66. The S&P 500 advanced 0.17% to 7,445.72, while the Nasdaq Composite increased 0.09% to end at 26,293.10.

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