Indices trade in positive terrain; private bank shares surge

The equity benchmark indices traded with moderate gains in early afternoon trade despite escalating tensions surrounding US-Iran conflict. However, market participants will monitor inflation trajectory, movements in crude oil and gold prices and global cues for further direction. Nifty traded above 23,250 mark.

Private bank shares witnessed buying demand for third consecutive trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 289.91 points or 0.39% to 74,273.08. The Nifty 50 index rose 76.15 points or 0.33% to 23,292.65.

In the broader market, the BSE 150 MidCap Index fell 0.40% and the BSE 250 SmallCap Index shed 0.26%.

The market breadth was negative. On the BSE, 1,480 shares rose and 2,451 shares fell. A total of 231 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.41% to 15.57. The Nifty 30 June 2026 futures were trading at 23,324.90, at a premium of 32.25 points as compared with the spot at 23,292.65.

The Nifty option chain for the 30 June 2026 expiry showed a maximum call OI of 79.4 lakh contracts at the 24,000 strike price. A maximum put OI of 53.5 lakh contracts was seen at the 23,000 strike price.

Buzzing Index:

The Nifty Private Bank index jumped 1.30% to 27,088.40. The index rose 3.7% in the straight three trading sessions.

ICICI Bank (up 2.45%), Kotak Mahindra Bank (up 1.52%), Axis Bank (up 1.45%), IndusInd Bank (up 1.31%) and HDFC Bank (up 0.42%) and RBL Bank (up 0.36%) surged.

Stocks in Spotlight:

IZMO rose 1.35% after the company highlighted the launch of India's first integrated silicon photonics (SiPh) packaging line as part of its semiconductor expansion strategy.

Kalyani Forge rose 0.46%. The company announced that its chief financial officer, Jagdish Baheti, has resigned from his position due to personal reasons.

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