Nifty trades near 25,200 level; European mrkt decline
The Nifty traded near 25,200 level. Consumer durables, financial services and oil & gas shares advanced while, media, IT and FMCG shares corrected.
At 13:30 IST, the barometer index, the S&P BSE Sensex advanced 458.11 points or 0.56% to 82,241.99. The Nifty 50 index jumped 118.45 points or 0.48% to 25,196.25.
In the broader market, the S&P BSE Mid-Cap index rose 0.39% and the S&P BSE Small-Cap index shed 0.07%.
The market breadth was negative. On the BSE, 1,841 shares rose and 2,191 shares fell. A total of 173 shares were unchanged.
Gainers & Losers:
Jio Financial Services (up 1.98%), Bharti Airtel (up 1.91%), Eicher Motors (up 1.67%), HDFC Bank (up 1.45%) and HCL Technologies (up 1.34%) were the major Nifty50 gainers.
Tata Motors (down 1.71%), Trent (down 1.66%), Axis Bank (down 1.61%), Tata Consumer Products (down 1.07%) and HDFC Life Insurance Company (down 0.98%) were the major Nifty50 losers.
Stocks in Spotlight:
Oil India (OIL) added 0.27%. The company said that it has signed a memorandum of understanding (MoU) with Mahanagar Gas (MGL) for exploring opportunities across the LNG value chain and in emerging clean energy areas.
LTIMindtree added 0.02%. The company announced that it has secured a multi-year agreement with a leading global media and entertainment company, marking the company?s largest strategic deal to date.
Bank of India shed 0.49%. The bank?s global business surged 11.80% YoY to Rs 15,61,888 crore Q2 FY26, up from Rs 13,97,100 crore in the same quarter last year.
Fabtech Technologies Cleanrooms surged 8.92% after securing a Rs 68-crore order from a leading solar PV module manufacturer for the supply and installation of modular cleanroom systems, doors, and accessories.
Brigade Enterprises advanced 1.75% after the company has entered into a joint development agreement (JDA) for a strategically located 6.6-acre land parcel in West Chennai with an estimated gross development value (GDV) of Rs 1,000 crore.
Global Markets:
Most European market declined after France?s Prime Minister Sebastien Lecornu has resigned from his position just weeks after being appointed, creating a new political crisis in the country.
Asian stocks advanced as technology stocks tracked gains in their U.S. peers on persistent optimism over artificial intelligence. Markets in China and South Korea were closed for holidays.
The Nikkei 225 index, which the barometer index of the Tokyo Stock Exchange (TSE), jumped over 5% to hit a record high Monday after the country?s ruling Liberal Democratic Party elected staunch conservative Sanae Takaichi as its new leader Saturday, positioning her to become the country?s first female prime minister.
Given the government?s economic policy of a ?high-pressure economy,? Takaichi is likely to ask the Bank of Japan to maintain its accommodative monetary policy, media report said. They further said that she would be open to a 25-basis-point rate hike by the BOJ by January 2026.
Last Friday in the U.S., the three major averages closed higher. The S&P 500 retreated from a record on Friday but held on to solid weekly gains despite a U.S. government shutdown dragging on for a third day, ticking up just 0.01% at 6,715.79.
The Nasdaq Composite declined 0.28% to settle at 22,780.51. The Dow Jones Industrial Average outperformed, trading higher by 238.56 points, or 0.51%, to finish at 46,758.28. The Russell 2000 also popped 0.72% to close at 2,476.18.
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