Sensex rallies over 1,257 pts; realty shares advance
At 14:30 IST, the barometer index, the S&P BSE Sensex, surged 1,256.55 points or 1.64% to 78,104.12. The Nifty 50 index rose 394.35 points or 1.65% to 24,231.45.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 2.12% and the BSE 250 SmallCap Index added 2.42%.
The market breadth was strong. On the BSE, 3,562 shares rose and 768 shares fell. A total of 137 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 9.57% to 18.54.
Economy:
India?s wholesale inflation rose to a 38-month high of 3.88% in March, up from 2.13% in February, driven mainly by higher crude petroleum prices, fuel costs, and manufactured goods, according to the Ministry of Commerce and Industry.
The rise was led by increases in crude petroleum and natural gas, other manufacturing items, non-food articles, basic metals, and food articles.
The fuel and power index rose 4.13%, with mineral oil prices up 8.77%, while electricity prices fell 5.07% during the month.
Prices of manufactured goods increased 0.88%, with 16 of 22 manufacturing groups reporting gains and 6 witnessing declines. Meanwhile, WPI food inflation remained unchanged at 1.85% YoY in March.
Buzzing Index:
The Nifty Realty index rose 2.40% to 775.40. The index shed 0.27% in the past trading session.
Aditya Birla Real Estate (up 4.44%), Lodha Developers (up 4.3%), Anant Raj (up 4.03%), DLF (up 3.09%), Prestige Estates Projects (up 2.46%), Sobha (up 1.73%), Phoenix Mills (up 1.55%), Oberoi Realty (up 1.07%) and Godrej Properties (up 1.05%) jumped.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.45% to 6.907 compared with previous session close of 6.901.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 93.4100 compared with its close of 93.3500 during the previous trading session.
MCX Gold futures for a June 5, 2026 settlement shed 0.18% to Rs 154,544.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 98.14.
The United States 10-year bond yield shed 0.05% to 4.250.
In the commodities market, Brent crude for the June 2026 settlement rose 68 cents, or 0.72%, to $95.47 per barrel.
Stocks in Spotlight:
ICICI Prudential Life Insurance Company advanced 2.20% after reporting a strong set of Q4 FY26 results, with standalone net profit rising 57.60% year-on-year to Rs 608.81 crore compared with Rs 386.29 crore in the same quarter last year.
ArisInfra Solutions rose 3% after the company signed a memorandum of understanding (MoU) with Capacit?e Infraprojects for the procurement of construction materials worth Rs 800 crore over five years through the ARIS platform.
Time Technoplast added 4.32% after the company said that it has entered a memorandum of understanding (MoU) with the promoters of Systoverse (SPL) for acquiring a 76% stake in SPL on a net asset basis.
