At 13:30 ST, the barometer index, the S&P BSE Sensex jumped 713.97 points or 0.93% to 77,373.64. The Nifty 50 index advanced 221.30 points or 0.93% to 24,117.30.

The broader market outperformed the frontliner indices. The BSE 150 MidCap Index jumped 1.51% and the BSE 250 SmallCap Index surged 2.02%.

The market breadth was strong. On the BSE, 3,008 shares rose and 1,184 shares fell. A total of 227 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 5.93% to 18.54.

Gainers & Losers:

Sun Pharmaceutical Industries (up 7.18%), Adani Ports and Special Economic Zone (up 2.76%), Wipro (up 2.78%) and JSW Steel (up 2.48%) were the major Nifty50 gainers.

Shriram Finance (down 4.08%), Axis Bank (down 3.47%), Bharat Electronics (down 1.83%), Tata Consumer Products (down 0.60%) and Coal India (down 0.48%) were the major Nifty50 losers.

Stocks in Spotlight:

Varun Beverages rose 2.44% after the company reported a 20.08% jump in consolidated net profit to Rs 872.35 crore in Q1 CY26 as compared with Rs 726.49 crore posted in Q1 CY25. Revenue from operations (excluding excise duty) surged 18.09% YoY to Rs 6,574.19 crore in the first quarter of 2026.

Tanla Platforms soared 18.01% after the company's consolidated net profit jumped 2.25% to Rs 134.32 crore on a 5.04% increase in revenue from operations to Rs 1,177.54 crore in Q4 FY26 over Q3 FY26. On a year-on-year (YoY) basis, the company's consolidated net profit jumped 14.5% and revenue from operations climbed 15% in Q4 FY26.

India Cements soared 9.27% after the company's consolidated net profit surged 305.6% to Rs 59.50 crore on a 2.6% increase in revenue from operations to Rs 1,228.85 crore in Q4 FY26 over Q4 FY25.

One 97 Communications tumbled 0.36%. The company said that the board of Paytm Payments Bank (PPBL) has approved the winding-up of PPBL, following the cancellation of its banking licence by the Reserve Bank of India (RBI).

Avantel rose 0.23%. The company reported a 21.5% year-on-year decline in consolidated net profit to Rs 4.77 crore in Q4 FY26, compared with Rs 6.08 crore in Q4 FY25. Revenue from operations rose 29.6% year-on-year to Rs 63.83 crore in Q4 FY26.

Global Markets:

European shares mixed on Monday as investors monitored developments in U.S.-Iran peace talks and looked ahead to key central bank meetings.

Asian markets advanced, with Japan and South Korea hitting record highs, although broader gains were capped by surging oil prices and stalled U.S.-Iran negotiations.

Sentiment held up despite U.S. President Donald Trump on Saturday scrapping plans to send U.S. envoy Steve Witkoff and Jared Kushner to Islamabad, Pakistan, for negotiations with Iran.

Tensions in the Strait of Hormuz remain high after Iran's Revolutionary Guard reportedly boarded two cargo ships near the strategic sea lane.

Meanwhile, profits at China's industrial firms grew at their fastest pace in six months in March, even as the Middle East war upended global oil markets and sent raw material costs soaring.

Industrial profits jumped 15.8% from a year earlier in March, the sharpest growth since September last year, National Bureau of Statistics data showed Monday, accelerating from the 15.2% surge in the first two months of this year.

In the first three months this year, enterprise profits expanded 15.5%, the fastest start to a year since 2017, barring the pandemic-driven spike in 2021.

Last week, the S&P 500 and Nasdaq Composite closed at record levels on Friday after investors were given a hopeful sign that peace talks between the U.S. and Iran would soon take place in Pakistan.