- Sensex and Nifty trade near day’s highs despite Indo-Pak tensions.
- IOC posts strong Q4 profit; BPCL gains after Citi retains ‘Buy’.
- Bajaj Finance, Maruti, and HDFC Life among key market movers today.
Indian markets opened flat but showed resilience throughout the day, with the Sensex holding above 80,000 and Nifty approaching the 24,400 mark. Despite global caution and geopolitical concerns, the Indian Volatility Index rose 2%, signaling investor unease.
A major highlight was Indian Oil Corporation’s Q4 earnings, reporting a profit of ₹7,265 crore. Additionally, BPCL received bullish sentiment after Citi reiterated a ‘Buy’ rating and raised its target to ₹390, citing strong refining margins and inventory gains.
Markets Watchful as Indo-Pak Tensions Simmer; Corporate Earnings Take Center Stage
Geopolitical tensions escalated after the Pahalgam terror attack, with Pakistan alleging imminent military action by India. This injected caution into the markets, even as frontline indices managed to remain positive. PM Modi’s directive giving the military operational freedom further increased investor vigilance.
Despite the tense backdrop, the Nifty and Sensex showed resilience, driven by strong corporate earnings. Stocks like HDFC Life and Maruti Suzuki led the rally, while sectors like banking, auto, and metals saw profit-booking due to Akshaya Tritiya-induced volatility.
BPCL stood out after Citi’s bullish commentary. The refining giant’s better-than-expected EBITDA and sharp GRM jump from $5.6 to $9.2 per barrel underscored its operational strength, though concerns remained about the lack of LPG compensation and softer fuel margins.
Other companies like Bajaj Finance and CEAT posted notable results. Bajaj Finance announced major corporate actions including a dividend, stock split, and bonus issue, further lifting investor sentiment. Stocks like IndiaMART, UTI AMC, and SBI also remained in focus ahead of their earnings calls.
While geopolitical risks loom, strong corporate earnings and global cues are helping Indian markets maintain momentum. Investors remain alert but optimistic.
“In investing, what is comfortable is rarely profitable.” – Robert Arnott
