Nifty trades above 24,100 level; broader market outperforms

The headline equity indices traded near the flatline with marginal gains in mid-afternoon trade after the U.S. Federal Reserve kept interest rates unchanged and signaled the possibility of a rate hike later this year. Investor sentiment remained cautious, with market participants closely tracking monsoon progress, foreign institutional investor (FII) activity, and inflation trends for further direction. The Nifty traded above the 24,100 mark.

IT shares declined after advancing in the past three consecutive trading sessions.

At 14:25 IST, the barometer index, the S&P BSE Sensex rose 30.36 points or 0.04% to 77,185.98. The Nifty 50 index added 17.70 points or 0.07% to 24,102.20.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.10% and the BSE 250 SmallCap Index rallied 0.45%.

The market breadth was positive. On the BSE 2,216 shares rose and 1,928 shares fell. A total of 204 shares were unchanged.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.3350 compared with its close of 94.5000 during the previous trading session.

In the commodities market, Brent crude for August 2026 settlement lost $1.41 or 1.77% to $78.14 a barrel.

Buzzing Index:

The Nifty IT Index dropped 1.41% to 28,402.20. The index surged 3.64% in the past three consecutive trading sessions.

Infosys (down 2.25%), Persistent Systems (down 1.78%), Tech Mahindra (down 1.57%), Tata Consultancy Services (down 1.48%), Wipro (down 1.31%), HCL Technologies (down 0.91%), Oracle Financial Services Software (down 0.58%), LTM (down 0.32%) and Mphasis (down 0.02%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper slipped 0.39% to 6.838 compared with previous session close of 6.838.

MCX Gold futures for 5 June 2026 settlement declined 1.97% to Rs 150,850.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.45% to 100.31.

The United States 10-year bond yield declined 0.31% to 4.443.

Stocks in Spotlight:

Neetu Yoshi rose 1.12% after the company announced that it has received a purchase order worth approximately Rs 7.39 crore from an India-based manufacturer for the supply of cast steel bearing plates as per RDSO specifications.

Quick Heal Technologies rallied 4.97% after the company?s board approved the appointment of Harish Kumar GS as chief executive officer (CEO) with effect from 18 June 2026.

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