Sensex gains over 239 pts; IT shares rally

The key equity indices witnessed modest gains in afternoon trade, buoyed by the Reserve Bank of India's firm monetary policy stance and positive global sentiment. The Nifty traded tad above the 25,100 level. IT shares extended gains for the fourth consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, added 239.15 points or 0.29% to 82,428.14. The Nifty 50 index rose 100.65 points or 0.40% to 25,103.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.07% and the S&P BSE Small-Cap index added 1.12%.

The market breadth was strong. On the BSE, 2,739 shares rose and 1,393 shares fell. A total of 152 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.39% to 14.69.

Economy:

India?s forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday.

For the week ended May 30, foreign currency assets?a major component of the reserves?fell $1.952 billion to $584 billion, according to the RBI data.

The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said.

India?s reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed.

Buzzing Index:

The Nifty IT index added 1.10% to 37,705.55. The index gained 2.42% in four consecutive trading sessions.

Oracle Financial Services Software (up 4.13%), Mphasis (up 2.69%), Persistent Systems (up 1.88%), Coforge (up 1.21%), Tata Consultancy Services (up 1.21%), LTIMindtree (up 1.15%), Infosys (up 0.69%), Wipro (up 0.57%), Tech Mahindra (up 0.48%), and HCL Technologies (up 0.45%) advanced.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.46% to 6.267 from the previous close of 6.230.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.5875 compared with its close of 85.6875 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement shed 0.22% to Rs 96,822.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.31% to 98.87.

The United States 10-year bond yield fell 0.64% to 4.485.

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