At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 160.51 points or 0.21% to 78,149.19. The Nifty 50 index rose 33.25 points or 0.14% to 24,229.15.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index gained 0.53% and the BSE 250 SmallCap Index added 0.82%.
The market breadth was strong. On the BSE, 2,460 shares rose and 738 shares fell. A total of 172 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 382.36 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 3,427.75 crore in the Indian equity market on 16 April 2026, provisional data showed.
Stocks in Spotlight:
HDFC Life Insurance Company fell 1.20%. The company reported consolidated net profit of Rs 497.49 crore in Q4 FY26, up 4.65% as against Rs 475.36 crore in Q4 FY25. Net premium income rose 9.04% year on year (YoY) to Rs 25,998.42 crore in Q4 FY26 over Q4 FY25.
Wipro declined 1.55%. The company has reported 12% increase in consolidated net profit to Rs 3,521.6 crore on a 2.9% rise in revenue from operations to Rs 24,236.3 crore in Q4 FY26 as compared with Q3 FY26. On a year-on-year (YoY) basis, the company's consolidated net profit declined 1.9% while revenue from operations increased 7.70% in March 2026 quarter.
Alok Industries shed 0.97%. The company reported a standalone net loss of Rs 186.6 crore in Q4 FY26, compared to a loss of Rs 67.8 crore in the same period last year. Revenue increased 2.2% YoY to Rs 993 crore.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.25% to 6.892 compared with the previous session close of 6.865.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 93.8500 compared with its close of 93.1475 during the previous trading session.
MCX Gold futures for 5 June 2026 settlement shed 0.01% to Rs 153,155.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 98.23.
The United States 10-year bond yield rose 0.19% to 4.319.
In the commodities market, Brent crude for June 2026 settlement fell $1.05 or 1.06% to $98.34 a barrel.
Global Markets:
Asian markets traded lower on Friday, as cautious optimism over the Middle East conflict tempered sentiment, diverging from Wall Street's record-setting rally.
U.S. President Donald Trump on Friday said that the war in Iran 'should be ending pretty soon,' reiterating rosy predictions about the end of the conflict.
Hours earlier, Trump confirmed that Israel and Lebanon had agreed to a 10-day ceasefire. Iran's parliament speaker has said that Israel halting attacks on Lebanon is a key condition for U.S.-Iran negotiations to start.
The next round of in-person talks between the U.S. and Iran may occur 'probably, maybe, next weekend,' Trump reportedly said on Thursday. A two-week ceasefire between the U.S. and Iran will expire on April 21.
Meanwhile, Japan's export credit agency, the Japan Bank for International Cooperation, will set up an investment window of up to 600 billion yen ($3.8 billion) to help Asian countries secure energy supplies, Finance Minister Satsuki Katayama said.
Overnight on Wall Street, the S&P 500 and Nasdaq Composite rose to fresh all-time highs on Thursday, adding to their strong gains this week on optimism for a possible resolution to the Iran war.
The broad market index gained 0.26% to close at 7,041.28, while the Nasdaq gained 0.36% to settle at 24,102.70. The Dow Jones Industrial Average added 115 points, or 0.24%, and ended at 48,578.72.
Stocks have risen in recent days on hopes for an eventual peace deal between the two nations. The S&P 500 kicked off the week by wiping out all of its losses since the beginning of the Iran war.
Even if a U.S.-Iran peace deal were to come to fruition in the near term like investors anticipate, there could still be some market volatility approaching due to the war's potential impact on the U.S. economy.