Sensex, Nifty pare most gains; metal shares shine for 2nd day

The key equity indices pared with most of the gains and traded near flat line in mid-morning trade despite positive global cues. Positive global cues failed to sustain investor enthusiasm as crude oil prices climbed. However, investors remained focused on the ongoing quarterly earnings season. Nifty traded below the 23,750 mark.

Metal stocks extended gains for two consecutive sessions.

At 11:25 IST, the barometer index, the S&P BSE Sensex added 57.49 points or 0.09% to 75,383.55. The Nifty 50 index rose 56.10 points or 0.18% to 23,713.40.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.30% and the BSE 250 SmallCap Index jumped 0.70%.

The market breadth was strong. On the BSE, 2,526 shares rose and 1,281 shares fell. A total of 230 shares were unchanged.

In the commodities market, Brent crude for July 2026 settlement advanced $1.07 or 1.02% to $106.09 a barrel.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 96.3200 compared with its close of 96.8600 during the previous trading session.

Buzzing Index:

The Nifty Metal index jumped 0.56% to 13,259.95. The index increased 0.73% in the two consecutive trading sessions.

Welspun Corp (up 2.4%), Hindalco Industries (up 1.62%), Hindustan Copper (up 1.29%), National Aluminium Company (up 1.27%), Tata Steel (up 1.13%), Adani Enterprises (up 1.06%), Hindustan Zinc (up 0.76%), Lloyds Metals & Energy (up 0.64%), NMDC (up 0.43%) and Jindal Stainless (up 0.37%) surged.

Stocks in Spotlight:

Honeywell Automation India surged 10.88% after the company reported a 14.15% increase in standalone net profit to Rs 159.7 crore in Q4 FY26, compared with Rs 139.9 crore in Q4 FY25.

Ola Electric Mobility dropped 4.09% after the company reported weak Q4 FY26 performance despite improvement in gross margins, operating efficiency and cash flow. The company posted a consolidated net loss of Rs 500 crore in Q4 FY26 compared with a net loss of Rs 870 crore in Q4 FY25 and Rs 487 crore in Q3 FY26. Revenue from operations declined 56.6% YoY and 43.6% QoQ to Rs 265 crore in the March 2026 quarter.

Global Markets:

Asia-Pacific market opened higher on Thursday, following overnight gains on Wall Street amid hopes of a possible resolution to the Middle East conflict.

U.S. President Donald Trump said that Washington was in the ?final stages? of negotiations with Iran, according to media reports, helping lift investor optimism.

Japan?s Nikkei 225 jumped over 3% after the release of the country?s latest trade data. Exports rose at the fastest pace since January, rising 14.8% in April, driven by surge in semiconductor shipments. Imports grew 9.7% year-on-year, higher than an expected 8.3% rise, according to government data. The country?s trade balance narrowed to 301.9 billion yen in April, from 643 billion yen in March.

Overnight in the U.S., The Dow Jones Industrial Average advanced 645.47 points, or 1.31%, closing at 50,009.35. The S&P 500 rose 1.08% to 7,432.97, while the Nasdaq Composite added 1.54% and ended at 26,270.36.

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