CHENNAI: Indian benchmark indices ended higher on Monday, July 21, after a muted start, supported by strong first quarter (Q1) earnings from key financial players. Gains in banking, metal, and realty stocks helped the market offset global trade concerns.
The BSE Sensex climbed 442 points to close at 82,123, while the Nifty 50 advanced 122 points to settle near 25,095. The broader market showed mixed performance, with midcaps posting modest gains and small-caps ending flat.
Markets were buoyed by upbeat quarterly results from HDFC Bank and ICICI Bank, both of which posted double-digit growth in net profit, lifting the overall sentiment in the financial sector. HDFC Bank gained around 2%, while ICICI Bank rose nearly 3% on the back of better-than-expected earnings.
Reliance Industries also reported record quarterly profit but saw its stock decline by over 2% as weakness in its oil-to-chemicals and retail segments led to some investor caution.
Among sectors, private banks, metals, real estate, and auto saw buying interest, while select IT and FMCG stocks remained under pressure. The Bank Nifty index surged over 650 points, reflecting the strength in financials.
In the broader market, Eternal (parent of Zomato) was among the top gainers, rallying nearly 7% following strong revenue momentum in Q1.
On the macro front, the rupee ended weaker at around ₹86.29 per US dollar, amid global currency volatility. Investors also kept an eye on the ongoing India-US trade talks ahead of the August 1 tariff deadline.
Overall, the market showed resilience driven by domestic earnings, even as global cues remained uncertain. Analysts expect earnings momentum and global developments to guide near-term market direction.