As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 1,263.67 points or 1.64% to 78,111.24. The Nifty 50 index jumped 388.65 points or 1.63% to 24,231.30.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 2.16% and the BSE 250 SmallCap Index rose 2.41%.
The market breadth was strong. On the BSE, 3,584 shares rose and 803 shares fell. A total of 126 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 8.93% to 18.67.
Economy:
India's wholesale inflation rose to a 38-month high of 3.88% in March, up from 2.13% in February, driven mainly by higher crude petroleum prices, fuel costs, and manufactured goods, according to the Ministry of Commerce and Industry.
The rise was led by increases in crude petroleum and natural gas, other manufacturing items, non-food articles, basic metals, and food articles.
The fuel and power index rose 4.13%, with mineral oil prices up 8.77%, while electricity prices fell 5.07% during the month.
Prices of manufactured goods increased 0.88%, with 16 of 22 manufacturing groups reporting gains and 6 witnessing declines. Meanwhile, WPI food inflation remained unchanged at 1.85% YoY in March.
India's merchandise trade deficit narrowed to $20.67 billion in March, government data showed on Wednesday, amid concerns that the Iran conflict could disrupt exports to Gulf countries while increasing the cost of energy and other imports.
Imports during the month stood at $59.59 billion, down 6% from $63.74 billion in March 2025, while exports declined 7.4% to $38.92 billion compared with $42.05 billion in the year-ago period.
Buzzing Index:
The Nifty Consumer Durables index jumped 2.91% to 37,361.25. The index shed 0.44% in the past trading session.
PG Electroplast (up 10.31%), Dixon Technologies (India) (up 5.44%), Blue Star (up 4.34%), Amber Enterprises India (up 4.31%), Crompton Greaves Consumer Electricals (up 3.97%), Kajaria Ceramics (up 3.3%), Voltas (up 2.97%), Whirlpool of India (up 2.86%), LG Electronics India (up 2.37%) and Titan Company (up 1.96%) rose.
Stocks in Spotlight:
Anand Rathi Share and Stock Brokers surged 1.66% after the company's consolidated net profit surged 125.74% to Rs 41.56 crore on a 28.06% increase in total revenue from operations to Rs 255.66 crore in Q4 FY26 over Q4 FY25.
ICICI Prudential Asset Management Company (AMC) dropped 3.78% after the company reported a 16.76% drop in consolidated net profit to Rs 763.42 crore on a 0.15% decline in revenue from operations to Rs 1517.01 crore in Q4 FY26 over Q3 FY26.
ICICI Prudential Life Insurance Company advanced 3.21% after reporting a strong set of Q4 FY26 results, with standalone net profit rising 57.60% year-on-year to Rs 608.81 crore compared with Rs 386.29 crore in the same quarter last year. The company's total income witnessed a sharp loss of 78.98% YoY, reaching Rs 3,306 crore for the quarter ended 31 March 2026.
Eimco Elecon (India) slipped 7.70% after its standalone net profit tanked 57.22% to Rs 6.36 crore in Q4 FY26 as against Rs 14.87 crore in Q4 FY25. However, revenue from operations rose 4.04% to Rs 66.88 crore in Q4 FY26 as against Rs 64.28 crore in Q4 FY25.
Nuvoco Vistas Corporation shed 0.08%. The company's consolidated net profit slipped 14.99% to Rs 140.71 crore in Q4 FY26 as against Rs 165.54 crore in Q4 FY25. However, revenue from operations rose 8.69% year on year (YoY) to Rs 3,306.75 crore in Q4 FY26.
Swaraj Engines jumped 3.87% after the company reported a 20.12% jump in standalone net profit to Rs 54.56 crore in Q4 FY26, compared with Rs 45.42 crore in Q4 FY25. Revenue from operations rose 20.18% year-on-year to Rs 545.79 crore in the quarter ended 31 March 2026.
Just Dial slipped 5.04% after the company reported a 36.54% decline in standalone net profit to Rs 100 crore, despite a 6.23% increase in net revenue to Rs 307.24 crore in Q4 FY26 over Q4 FY25.
Den Networks shed 0.17%. The company reported a 38.25% decline in consolidated net profit to Rs 38.39 crore in Q4 FY26 as against Rs 62.18 crore posted in Q4 FY25. Revenue from operations slipped 3.03% year on year to Rs 240.57 crore in the quarter ended 31 March 2026.
Landmark Cars rose 3.42% after the company's total revenue from operations (including agency sales) jumped 17.50% to Rs 1,790 crore in Q4 FY26 compared with Rs 1,526 crore in Q4 FY25.
TANFAC Industries jumped 6.07% after the company announced that it has entered into a memorandum of understanding (MoU) for the supply of 5,000 MT per annum of its key fluorinated product with a large multinational company.
Global Markets:
European shares traded mixed on Wednesday as investors assessed the trajectory of the U.S.-Iran conflict and the prospects of renewed peace talks.
Eurozone industrial production rose 0.4% month-on-month in February 2026, rebounding after two months of decline and beating estimates of 0.3%, driven by gains in non-durable consumer goods, capital goods, and intermediate goods. However, energy output and durable goods declined, while on a year-on-year basis, industrial production fell 0.6%.
Asian markets ended higher, tracking overnight gains in U.S. stocks, as oil prices fell amid rising hopes of a diplomatic solution to the Middle East conflict.
Media reports suggested that a second round of negotiations between Washington and Tehran was under discussion. Nothing has been officially scheduled yet, the reports added.
'We've been called by the other side,' President Donald Trump said Monday. 'They'd like to make a deal very badly, he added.
Meanwhile, China's finance ministry has reportedly said it will issue 15.5 billion yuan-denominated treasury bonds in Hong Kong on April 22.
Overnight on Wall Street, stocks rose on Tuesday following a strong session in which traders shrugged off a breakdown in peace talks between the U.S. and Iran yet were optimistic that a deal between the two countries was still possible.
The S&P 500 gained 1.18% and closed at 6,967.38. The broad market index now stands less than 1% below its 52-week high. The Dow Jones Industrial Average added 317.74 points, or 0.66%, to close at 48,535.99. The Nasdaq Composite advanced 1.96% and ended at 23,639.08.
Also helping sentiment was the release of March's producer price index reading. The index recorded a rise in March, but the rise was considerably less than expected as the Iran war's push on energy prices rekindled fears of another inflation burst.
The producer price index, a gauge of pipeline costs for final demand goods and services, increased a seasonally adjusted 0.5% for the month, well below the widely reported estimate for 1.1%, according to a Bureau of Labor Statistics report Tuesday.