Baromters edge higher in early trade; breadth strong
At 09:30 IST, the barometer index, the S&P BSE Sensex, advanced 197.04 points or 0.26% to 76,675.71. The Nifty 50 index gained 62.20 points or 0.26% to 23,928.55.
In the broader market, the BSE 150 MidCap Index rose 0.16% and the BSE 250 SmallCap Index rallied 0.55%.
The market breadth was strong. On the BSE, 2,027 shares rose and 933 shares fell. A total of 170 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 2.51% to 13.94.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,556.75 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,842.34 crore in the Indian equity market on 30 June 2026, provisional data showed.
Stocks in Spotlight:
Corona Remedies rose 0.98%. The company has commissioned a European Union Good Manufacturing Practice (EU-GMP)-approved hormone manufacturing facility in Ahmedabad, expanding its hormone manufacturing capacity by 20%.
Kotak Mahindra Bank added 0.59%. The company has signed a business transfer agreement with Deutsche Bank AG (DBAG) to acquire the latter's business undertaking in India.
Aarti Pharmalabs gained 1.01% after the company has inaugurated an additional manufacturing block in Maharashtra, adding 3,600 tonnes per annum (TPA) of capacity for Xanthine derivatives production.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 0.16% to 6.764 as compared with previous close 6.753.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.7000 compared with its close of 94.5600 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement fell 0.81% to Rs 141,376.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.14% to 101.10.
The United States 10-year bond yield jumped 1.02% to 4.467.
In the commodities market, Brent crude for September 2026 settlement gained 29 cents or 0.40% to $73.24 a barrel.
Global Markets:
Asian share markets started the new quarter in a cautious mood on Wednesday as talks between the United States and Iran hit new hurdles.
Tehran said on Tuesday it would not meet with top U.S. envoys who had flown to the region, with the two sides still far apart on a framework that would fully open the Strait of Hormuz.
Bond markets were also under pressure after U.S. Treasury yields spiked overnight as futures narrowed the odds-on rate hikes from the Federal Reserve ahead of crucial jobs figures on Thursday.
All eyes will thus be on Fed Chair Kevin Warsh when he appears at a European Central Bank conference later in the session, for any guidance on the need for a tightening.
Investors were also on alert for possible Japanese intervention as the yen plumbed fresh 40-year lows. According to public data, the Japanese yen fell to 162.28 per dollar as the currency extended losses from the previous session.
Overnight on Wall Street, stocks rose on Tuesday, boosted by sharp gains in chips, as Wall Street wrapped up a strong first half and second quarter.
The Dow Jones Industrial Average gained 136.46 points, or 0.26%, for a record close of 52,319.20. The S&P 500 rose 0.79% to end at 7,499.36, and the Nasdaq Composite climbed 1.52% to 26,213.72.
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