Sensex jumps 494 pts; realty shares advance
At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 494 points or 0.65% to 76,972.67. The Nifty 50 index surged 141.60 points or 0.59% to 24,007.35.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index rose 0.35% and the BSE 250 SmallCap Index rallied 0.44%.
The market breadth was positive. On the BSE, 2,448 shares rose and 1,428 shares fell. A total of 222 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.13% to 13.45.
In the commodities market, Brent crude for September 2026 settlement added 20 cents or 0.27% to $73.15 a barrel.
Economy:
India's HSBC Manufacturing PMI eased to 54.2 in June from 55.0 in May. According to the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI)?a composite measure of overall business conditions based on new orders, output, employment, supplier delivery times, and stocks of purchases?the manufacturing sector recorded its second-weakest improvement since mid-2022, surpassing only March. Despite the moderation, growth remained robust and broadly in line with the series' long-run average.
Initial Public Offer (IPO):
Knack Packaging received bids for 97,94,840 shares as against 1,89,64,018 shares on offer, according to stock exchange data at 11:25 IST on 01 July 2026. The issue was subscribed 0.52 times.
The issue opened for bidding on 01 July 2026 and it will close on 03 July 2026. The price band of the IPO is fixed between Rs 161 and 170 per share. An investor can bid for a minimum of 88 equity shares and multiples thereof.
Aastha Spintex received bids for 2,71,14,450 shares as against 1,36,00,000 shares on offer, according to stock exchange data at 11:25 IST on 01 july 2026. The issue was subscribed 1.99 times.
The issue opened for bidding on 29 June 2026 and it will close on 01 July 2026. The price band of the IPO is fixed between Rs 125 and 136 per share. An investor can bid for a minimum of 110 equity shares and multiples thereof.
Buzzing Index:
The Nifty Realty index jumped 1.59% to 842.70. The index rallied 2.91% in two consecutive trading sessions.
Aditya Birla Real Estate (up 5.66%), Prestige Estates Projects (up 2.02%), Phoenix Mills (up 1.99%), Godrej Properties (up 1.67%), Sobha (up 1.61%), Lodha Developers (up 1.6%), DLF (up 1.33%) and Anant Raj (up 0.27%) advanced.
On the other hand, Brigade Enterprises (down 0.23%) and Oberoi Realty (down 0.12%) edged lower.
Stocks in Spotlight:
Steel Strips Wheels (SSWL) jumped 6.19% after the company reported a net turnover of Rs 479.87 crore for June 2026, marking a 36.84% year-on-year (YoY) increase compared to Rs 350.67 crore recorded in June 2025.
ZF Commercial Vehicle Control Systems India slipped 2.40% after the company said its chief financial officer (CFO) & key managerial personnel (KMP), Sweta Agarwal, has resigned effective from the close of business hours on 30 June 2026.
VA Tech WABAG rallied 3.47% after it has secured a large international order from the City of Vienna's Municipal Department MA 31 ? Wiener Wasser for the expansion of the Donauinsel Water Works in Vienna, Austria.
Ola Electric Mobility jumped 4.04% after the company announced that it has registered 43,719 vehicles in Q1 FY26, nearly doubling from 22,252 vehicles in Q4 FY25, according to VAHAN data.
KPIT Technologies slumped 15.35% after the company said it expects Q2 FY27 revenue to remain in a similar range as Q1 FY27, indicating that the near-term weakness in demand is likely to persist.
Escorts Kubota added 1.24% after the company reported a 19.1% year-on-year increase in tractor sales for June 2026, with total volumes rising to 13,695 units compared to 11,498 units in June 2025.
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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