The domestic equity benchmarks traded with robust gains in the mid-afternoon trade, tracking positive global cues after reports of a pause in U.S.-Iran hostilities over the weekend eased geopolitical concerns and pushed crude oil prices lower. The decline in oil prices improved investor sentiment, boosting buying interest across most sectors. The Nifty traded above the 24,000 level. Media shares extended gains for the third consecutive trading session.
At 14:30 IST, the barometer index, the S&P BSE Sensex soared 820.29 points or 1.08% to 76,880.06. The Nifty 50 index climbed 237.15 points or 1% to 24,004.15.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 1.10% and the BSE 250 SmallCap Index rallied 1.28%.
The market breadth was strong. On the BSE, 2,740 shares rose and 1,510 shares fell. A total of 241 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 8.85% to 12.79.
Buzzing Index:
The Nifty Media index climbed 2.52% to 1,565.90. The index rallied 4.65% in the three consecutive trading sessions.
PVR Inox (up 5.94%), Saregama India (up 3.83%), Zee Entertainment Enterprises (up 3.47%), Tips Music (up 2.16%), Nazara Technologies (up 1.21%), Hathway Cable & Datacom (up 0.93%), Network 18 Media & Investments (up 0.66%) and Sun TV Network (up 0.50%) advanced.
On the other hand, D B Corp (down 0.26%) and Prime Focus (down 0.23%), edged lower.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was down 0.89% to 6.765 as compared with previous close 6.826.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.8850 compared with its close of 96.5300 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement rose 0.58% to Rs 1,43,891.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.23% to 101.060.
The United States 10-year bond yield fell 0.98% to 4.633.
In the commodities market, Brent crude for September 2026 settlement fell $7.78 or 8.09% to $88.95 a barrel.
Stocks in Spotlight:
Shelter Pharma surged 7.70% after the company received an international purchase order worth $12,285 (around Rs 10.7 lakh) from Genet International for the supply of veterinary feed supplement products.
Canara Bank added 1.87% after the bank reported 2.19% increase in net profit to Rs 4,856 crore on a 4.26% rise in total income to Rs 39,684 crore in Q1 FY27 as compared with Q1 FY26.
MosChip Technologies tumbled 8.58% after the company reported a 77.56% YoY decline in consolidated net profit to Rs 2.45 crore in Q1 FY27, compared with Rs 10.92 crore posted in the corresponding quarter of the previous fiscal. Revenue from operation fell 14.29% YoY to Rs 116.21 crore in the quarter ended 30 June 2026.
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