The frontline indices traded with modest gains in mid-morning trade, lifted by positive global trade developments. Optimism from Asian markets and hopeful signals from US-China trade negotiations in London boosted investor sentiment. The Nifty traded above the 25,150 mark. Media shares extended gains for the third consecutive trading session.
At 11:30 IST, the barometer index, the S&P BSE Sensex, added 255.70 points or 0.31% to 82,647.42. The Nifty 50 index rose 80.65 points or 0.32% to 25,185.90.
In the broader market, the S&P BSE Mid-Cap index rose 0.21% and the S&P BSE Small-Cap index added 0.55%.
The market breadth was strong. On the BSE, 2,520 shares rose and 1,310 shares fell. A total of 158 shares were unchanged.
Buzzing Index:
The Nifty Media index rose 0.46% to 1,739.60. The index rose 4.14% in the three consecutive trading sessions.
Zee Entertainment Enterprises (up 1.93%), Hathway Cable & Datacom (up 1.44%), Network 18 Media & Investments (up 1.31%), Nazara Technologies (up 1.26%) and Tips Music (up 0.09%) advanced.
On the other hand, Dish TV India (down 2.03%), Saregama India (down 0.87%) and Sun TV Network (down 0.49%) edged lower.
Stocks in Spotlight:
OneSource Specialty Pharma advanced 1.72% after the company announced a partnership with Sweden-based Xbrane Biopharma AB for manufacturing biosimilars for global markets.
Kaynes Technology India rose 0.06%. The company announced that its wholly owned subsidiary, Kaynes Semicon, has entered into an asset purchase agreement (APA) with Fujitsu General Electronics (Fujitsu Electronics) to acquire the production lines for power modules.
Global Markets:
US Dow Jones futures were down 102 points, signaling a negative start for Wall Street.
Asian markets edged higher on Wednesday as optimism brewed over ongoing U.S.-China trade talks, which U.S. Commerce Secretary Howard Lutnick called productive.
Both sides confirmed they have struck a trade agreement, following two days of negotiations in London. While U.S. Treasury Secretary Scott Bessent exited the talks, Lutnick and Trade Representative Jamieson Greer stayed back to iron out the final details. Talks may stretch into Wednesday if needed, according to Lutnick.
Back on Wall Street, the mood was upbeat. The Dow ticked up 0.25%, the S&P 500 climbed 0.55%, and the Nasdaq added 0.63%, marking a three-day winning streak for the latter two. Tech stocks led the charge, with chipmakers like Nvidia rallying after reports suggested Trump may ease export curbs on semiconductors to China.
All eyes now shift to U.S. CPI data due Wednesday, expected to show a slight uptick in May's inflation.
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