Indian shares gained on Wednesday, led by a rebound in financials as June quarter earnings get underway, with softer-than-expected U.S. inflation data ​easing near-term rate-hike concerns and lifting sentiment across Asian markets.

Concerns over escalating ‌U.S.-Iran tensions, however, limited some gains, with the two countries exchanging strikes and battling for control of the Strait of Hormuz. Brent crude climbed 1.1% to $85.7 a barrel.

The benchmark Nifty 50 (.NSEI) rose ​0.62% to 24,200.20, while the BSE Sensex (.BSESN) added 0.67% to 77,575.45 ​by 10:18 a.m. IST.

Thirteen of the 16 major sectors gained. The broader ⁠small-caps (.NIFSMCP100) and mid-caps (.NIFMDCP100) rose 1.2% and 0.5%, respectively.

Financials (.NIFTYFIN) gained 1.3% after losing 1.1% in ​the previous session. Banks (.NSEBANK) and private lenders (.NIFPVTBNK) rose 1.1% each and state-owned banks (.NIFTYPSU) added ​1.3%.

HDFC Life (HDFL.NS) gained 2.2%, ICICI Prudential Life (ICIR.NS) rose 1.5%, and ICICI Lombard (ICIL.NS) and HDB Financial (HDBF.NS) added 1.2% and 1.7%, respectively, ahead of their June quarter earnings later in the ​day.

"Improving balance sheets, better liquidity conditions, stable interest rates and moderating credit ​costs are expected to support stronger growth and mark the beginning of a broad-based earnings ‌upside ⁠for financials sector," said Siddhartha Khemka, head of research of wealth management at Motilal Financial Services.

IT index (.NIFTYIT) fell 0.2% after global technology firm and bellwether IBM Corp (IBM.N) forecast second-quarter revenue below analyst estimates.

Softer-than-expected U.S. inflation in May lifted ​Wall Street and Asian ​equities, cushioning risk ⁠sentiment.

Softer U.S. inflation has strengthened expectations of a less aggressive Federal Reserve, offering relief to global risk assets despite ​heightened geopolitical risks, said two analysts.

Among individual stocks, KEC ​International (KECL.NS) gained ⁠4.6% after securing orders worth 11.8 billion rupees ($122.71 million).

Ather Energy (ATHR.NS) jumped 7% after two-wheeler maker Hero MotoCorp (HROM.NS) approved an investment of up to 10 billion rupees in ⁠the ​company.

Tata Elxsi (TTEX.NS) fell 4.6% after multiple brokerages cut ​fiscal 2027 earnings estimates after their June quarter results, citing margin worries.

($1 = 96.1625 Indian rupees)