Indices trade higher; IT shares rally

The domestic equity indices traded with modest gains in the early afternoon trade, tracking a global rally as tensions in West Asia eased after a fragile Israel-Iran ceasefire. The Nifty traded above 25,200 level.

IT shares witnessed buying demand for the second consecutive trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex jumped 557.64 points or 0.68% to 82,639.40. The Nifty 50 index rallied 162.80 points or 0.65% to 25,206.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.33% and the S&P BSE Small-Cap index added 1.30%.

The market breadth was strong. On the BSE, 2,615 shares rose and 1,385 shares fell. A total of 175 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.07% to 13.22. The Nifty 26 Jun 2025 futures were trading at 25,226, at a premium of 19.45 points as compared with the spot at 25,206.55.

The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 149.5 lakh contracts at the 26,000 strike price. Maximum put OI of 133 lakh contracts was seen at the 25,000 strike price.

Buzzing Index:

The Nifty IT index jumped 1.22% to 38,888.30. The index added 1.23% in two consecutive trading sessions.

Mphasis (up 2.09%), LTIMindtree (up 1.63%), Tech Mahindra (up 1.58%), Infosys (up 1.45%) HCL Technologies (up 1.05%), Coforge (up 1.05%), Wipro (up 0.89%), Tata Consultancy Services (up 0.5%), Oracle Financial Services Software (up 0.33%) and Persistent Systems (up 0.18%) advanced.

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