The benchmark Nifty 50 climbed 1.6% to 23,277.50, while the BSE Sensex gained 1.53% to 75,212.07 as of 9:50 a.m. IST, putting markets on track for a second straight day of advances.

Market sentiment improved after reports that Washington has proposed a month-long ceasefire and presented Tehran with a 15-point framework aimed at de-escalating the conflict.

The development raised expectations of reduced geopolitical risk, particularly around global energy supply disruptions.The conflict has unsettled financial markets in recent weeks, with concerns over oil supply routes and inflationary pressures weighing on investor confidence.

Markets track global cuesIndian equities, which are sensitive to global risk sentiment and crude price movements, reacted positively to signs of potential diplomatic progress.

A de-escalation could help stabilise energy prices, a key factor for India as a major oil importer.

Gains in domestic markets reflect broader optimism that easing tensions may reduce volatility across emerging markets, which have been under pressure amid the ongoing conflict.

The stock dropped as much as 8.7% in early trade following Chakraborty’s exit, in which he cited differences over “values and ethics,” prompting investor unease about internal governance at India’s largest private sector bank.

India’s central bank said in a statement that HDFC Bank remained financially sound, describing it as a domestically systemically important institution with a professionally managed board and competent leadership.

Based on periodic supervisory assessments, the Reserve Bank of India said it had found no material concerns related to the bank’s conduct or governance, offering reassurance to markets amid the leadership change.

The RBI approved the appointment of Keki Mistry, a long-time HDFC Group executive, as interim non-executive chairman for a period of three months.

Speaking to reporters and analysts, Mistry said there had been no discussion of governance issues within the board and that he was unaware of the concerns cited in Chakraborty’s resignation letter. He added there were no indications of a power struggle within the bank.

Mistry suggested the resignation may have resulted from a relationship issue between Chakraborty and the management team that developed over time, and clarified that the exit was unrelated to the bank’s operational or financial performance.

HDFC Bank holds slightly more than a tenth of India’s total banking system deposits, making it a critical pillar of the country’s financial system. As a systemically important bank, it is required to maintain higher capital buffers due to its size and interconnectedness.

The sharp market reaction underscores investor sensitivity to leadership disruptions at major financial institutions, even as regulators and the bank sought to contain concerns about governance and stability.

Meesho’s $604 million initial public offering received full subscription on the very first day, marking a strong vote of confidence from India’s fast-growing retail investor community.

The enthusiastic response reflects the country’s vibrant primary market and Meesho’s rising influence as a technology-driven e-commerce platform.

The company, aiming for a valuation of up to $5.6 billion, saw total bids surpass the 277.94 million shares on offer.

Retail investors played a decisive role, bidding more than three times their allotted quota and signalling widespread trust in Meesho’s business model and future growth.

India’s IPO environment has been booming, with more than 300 offerings raising over $19 billion this year, making 2025 a defining year for capital market expansion.

Against this backdrop, Meesho joins the wave of digital-first companies such as Groww, Lenskart and PhysicsWallah entering the public markets with strong momentum.

Analysts highlight that Meesho’s asset-light structure and zero-commission approach for sellers have helped the company achieve rapid user growth.

Disciplined cost management and a focus on improving unit economics have further boosted investor confidence in its long-term potential.

The platform’s strong anchor book, with about $270 million raised from major investors including SBI Innovative Opportunities Fund and the Government of Singapore, added credibility ahead of the public issue.

The IPO remains open until December 5, but its early oversubscription already underscores the company’s market appeal.

Non-institutional investors also showed solid interest, subscribing to their portion more than 1.38 times, while qualified institutional buyers fully subscribed to their segment as well.

Such wide-based participation indicates broad optimism across investor categories.

Financial disclosures from Meesho’s prospectus reflect the company’s improving performance and operational resilience.

Revenue surged nearly 30% to ₹55.78 billion in the first half of FY 2026, supported by expanding order volumes and a growing seller base.

The company also made meaningful progress in reducing losses, narrowing them by over 70% to ₹7 billion, signalling a maturing business moving closer to sustainable profitability.

Analysts note that while short-term profitability may remain uneven, Meesho’s overall growth trajectory remains strong and strategically well-positioned.

As one of India’s most influential digital marketplaces, Meesho’s successful IPO debut signals the broader strength of India’s startup ecosystem.

It highlights the increasing willingness of retail investors to participate in technology-driven companies that are reshaping the nation’s digital economy.

If this momentum continues, India’s capital markets are poised for one of their strongest years, setting new benchmarks for investor participation and technology-sector leadership.

Meesho’s strong subscription on Day 1 reinforces that optimism and reflects the growing confidence in Indian entrepreneurship and innovation.