Nifty Surges Above 24,500; Real Estate Stocks Rebound Strongly
The key domestic indices continued to trade with substantial gains in mid-morning trade, supported by optimism over potential peace talks between the US and Iran. Investor sentiment also remained upbeat amid easing crude oil prices. However, market participants shifted their focus to Q4 earnings. The Nifty traded above the 24,500 level.
Realty shares rebounded after declining in the past trading session. This positive momentum was driven by a combination of improved investor sentiment and sector-specific factors.
At 11:25 IST, the barometer index, the S&P BSE Sensex, jumped 675.90 points or 0.86% to 79,202.17. The Nifty 50 index added 177.50 points or 0.73% to 24,542.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index gained 0.87%, and the BSE 250 SmallCap Index added 1.10%. The market breadth was strong, with 2,721 shares rising and 1,218 shares falling. A total of 214 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, declined 6.21% to 17.62. In the commodities market, Brent crude for June 2026 settlement tumbled $1.09 or 1.14% to $94.39 a barrel.
The Nifty Realty index surged 2.96% to 805.20, reversing its decline of 0.62% in the previous trading session. Leading the gains were Sobha (up 4.13%), Godrej Properties (up 3.9%), Lodha Developers (up 3.53%), Phoenix Mills (up 3.21%), and Anant Raj (up 3.16%). Other notable performers included Oberoi Realty (up 3.02%), Aditya Birla Real Estate (up 2.88%), Brigade Enterprises (up 2.8%), Prestige Estates Projects (up 2.27%), and DLF (up 2.11%).
India’s Index of Eight Core Industries (ICI) fell by 0.4% in March 2026 compared to the same month last year, according to provisional data. Output declined in sectors such as fertilizers, crude oil, coal, and electricity, pulling down overall performance. The overall growth of these core industries for the full financial year 2025-26 stood at 2.6% compared to the previous year.
Shares of Rolex Rings surged 8.97% after the company announced that its board would consider a share buyback proposal. The company informed exchanges that its board will meet on 23 April 2026 to evaluate a buyback of fully paid-up equity shares. As of March 2026, promoters held a 52.24% stake in the company.
Biocon added 1.26% after Health Canada granted a notice of compliance (NOC) for Bosaya (denosumab), a biosimilar to Prolia, and Vezuo (denosumab), a biosimilar to Xgeva.
UGRO Capital rose 0.055. The company reported a 27.10% decline in standalone net profit to Rs 29.55 crore in Q4 FY26 as against Rs 40.54 crore posted in Q4 FY25. However, total income increased 23.42% YoY to Rs 509.04 crore in the quarter ended 31 March 2026.
Global markets traded mixed on Tuesday amid hopes for a resolution to the Middle East conflict, even as tensions between Iran and the U.S. continue to simmer. Iran’s parliament speaker, Mohammad Bagher Ghalibaf, stated that Iran does not accept negotiations under the shadow of threats and has prepared to reveal new cards on the battlefield.
President Donald Trump threatened Iran with overwhelming military force if no deal is reached before the ceasefire with Tehran expires. Despite the tensions, a U.S. delegation prepared to return to Pakistan for a potential second round of peace talks.
Overnight on Wall Street, stocks slipped on Monday after tensions between the U.S. and Iran escalated over the weekend. The S&P 500 shed 0.24% to close at 7,109.14, while the Nasdaq Composite declined 0.26% to finish at 24,404.39. The Dow Jones Industrial Average lost 4.87 points, or 0.01%, settling at 49,442.56. On the flip side, the small-cap Russell 2000 rose 0.58% to 2,792.96, scoring a new closing record. Traders remain hard-pressed to fully price in a worst-case scenario on the war given stocks’ recovery from near correction territory to all-time highs.
