Barometers nudge higher in early trade; Nifty trades above 23,450 mark

The headline equity benchmarks traded with modest gains in early trade as investors remained focused on the outcome of the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting, scheduled for 10 a.m. on Friday. The policy announcement is expected to provide key insights into the interest-rate trajectory, inflation outlook, economic growth prospects, and currency stability. The Nifty traded above the 23,450 mark. Realty and financial services stocks advanced, while FMCG and oil & gas shares witnessed selling pressure.

At 09:30 IST, the barometer index, the S&P BSE Sensex, rose 180.76 points or 0.24% to 74,540.77. The Nifty 50 index added 60.95 points or 0.26% to 23,476.20.

In the broader market, the BSE 150 MidCap Index jumped 0.58% and the BSE 250 SmallCap Index rallied 0.47%.

The market breadth was strong. On the BSE, 2,216 shares rose and 887 shares fell. A total of 161 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 4,447.06 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,360.14 crore in the Indian equity market on 04 June 2026, provisional data showed.

Stocks in Spotlight :

CG Power & Industrial Solutions added 0.52%. The company said that it has inaugurated a new extra-high-voltage (EHV) switchgear manufacturing unit in Nashik.

Juniper Hotels rallied 3.92% after the company has signed an agreement to acquire a 100% stake in Juniper Hospitality Assets. The company also plans to develop a five-star hotel on a 2.52-acre land parcel in New Delhi.

Numbers to Track:

The yield on India's 10-year benchmark federal paper slipped 0.49% to 6.961 compared with previous session close of 6.995.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.6550 compared with its close of 95.7450 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement fell 0.65% to Rs 158,502.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 99.38.

The United States 10-year bond yield declined 0.07% to 4.474.

In the commodities market, Brent crude for July 2026 settlement gained 40 cents or 0.42% to $95.43 a barrel.

Global Markets:

Asian markets traded lower on Friday, dragged lower by the overnight slump in key Wall Street tech names.

Overnight in the U.S., the Dow Jones Industrial Average rallied to a fresh all-time high, while the Nasdaq Composite underperformed as investors appeared to rotate out of chip names in favor of non-tech stocks.

The 30-stock Dow jumped 874.86 points, or 1.73%, to close at a record 51,561.93. The Nasdaq lost 0.09% and ended at 26,830.96, while the S&P 500 rose 0.41% to 7,584.31.

The rotation was sparked by a sell-off in Broadcom that led investors to pare exposure to AI-linked stocks. The chipmaker slid more than 12% after its fiscal second-quarter revenue missed estimates. Chip names, which led the latest leg higher in the market?s rally to record levels, fell broadly. The VanEck Semiconductor ETF (SMH) lost more than 1%. Arm Holdings shed more than 4%, while Micron Technology fell close to 8%.

Stocks also came under pressure on Middle East worries. Mixed messages have emerged recently out of negotiations to end the war, which has upset global markets and caused oil and gasoline prices to spike.

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