The headline equity benchmarks traded with major gains in the mid-afternoon trade, as investors looked past the escalating US-Iran conflict and turned their focus to the ongoing Q1 FY27 earnings season. Sustained buying in heavyweight stocks across key sectors lifted the domestic market, with the Nifty trading near the 24,300 level. Market participants also awaited Reliance Industries' June-quarter earnings, scheduled to be announced later today.
Investors will continue to monitor developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season, corporate business updates, and the progress of the southwest monsoon for further cues on market direction.
IT, private bank and auto shares advanced while pharma, media and metal shares declined.
At 14:30 IST, the S&P BSE Sensex advanced 893.95 points or 1.15% to 78,080.82. The Nifty 50 index added 227.05 points or 0.94% to 24,299.80.
In the broader market, the BSE 150 MidCap Index slipped 0.36% and the BSE 250 SmallCap Index fell 0.94%.
The market breadth was strong. On the BSE, 1,600 shares rose and 2,512 shares fell. A total of 197 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.90% to 13.13.
Buzzing Index:
The Nifty Auto Index jumped 1.07% to 27,054.60. The index rallied 1.91% in the three consecutive trading sessions.
Bharat Forge (up 3.48%), Exide Industries (up 2.82%), Sona BLW Precision Forgings (up 2.46%), TVS Motor Company (up 1.64%), Eicher Motors (up 1.62%), Mahindra & Mahindra (up 1.58%), Samvardhana Motherson International (up 0.84%), Bajaj Auto (up 0.81%), Tata Motors Passenger Vehicles (up 0.66%) and Uno Minda (up 0.14%) advanced.
On the other hand, Tube Investments of India (down 1.62%), Bosch (down 0.64%) and Maruti Suzuki India (down 0.07%) edged lower.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 0.13% to 6.760 as compared with previous close 6.751.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 96.3300, compared with its close of 96.4200 during the previous trading session.
MCX Gold futures for 5 April 2024 settlement rose 0.22% to Rs 140,702.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 100.55.
The United States 10-year bond yield fell 1.05% to 4.521.
In the commodities market, Brent crude for September 2026 settlement rose 37 cents or 0.44% to $84.60 a barrel.
Stocks in Spotlight:
PTC Industries shed 0.39%. The company has secured a strategic order from BrahMos Aerospace for the development, integration and supply of a mission-critical missile sub-system for the BrahMos programme.
Polycab India fell 3.77%. The company reported a 33% rise in consolidated net profit to Rs 7,967 crore on a 39% increase in revenue to Rs 8,209.7 crore in Q1 FY27 as compared with Q1 FY26.
Servotech Renewable Power System rose 1.54% after the company bagged an order from the Uttar Pradesh State Rural Livelihood Mission (UPSRLM).
Powered by Capital Market - Live News