Sensex jumps 524 pts; Nifty trades above 24,000 level; VIX slides 1.58%
At 13:28 IST, the barometer index, the S&P BSE Sensex, jumped 524.27 points or 0.69% to 77,002.94. The Nifty 50 index surged 156.35 points or 0.66% to 24,022.10.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index rose 0.17% and the BSE 250 SmallCap Index rallied 0.21%.
The market breadth was positive. On the BSE, 2,297 shares rose and 1,789 shares fell. A total of 208 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.58% to 13.39.
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.
Gainers & Losers:
Eternal (up 4.14%), Asian Paints (up 2.99%), Nestle India (up 2.92%), Adani Ports and Special Economic Zone (up 2.86%) and Adani Enterprises (up 2.78%) were the major Nifty50 gainers.
Tech Mahindra (down 2.96%), HCL Technologies (down 2.36%), HDFC Life Insurance Company India (down 1.78%), Hindalco Industries (down 1.62%) and Tata Motors Passenger Vehicles (down 1.49%) were the major Nifty50 losers.
Stocks in Spotlight:
RITES zoomed 13.66% after it received a Project Management Consultancy (PMC) order worth Rs 175.41 crore from Babasaheb Bhimrao Ambedkar University (BBAU).
EPACK Durable added 3.22% after the company received approval from the Government of Andhra Pradesh for a tailor-made incentive package under the Mega Category of the Andhra Pradesh Electronics Manufacturing Policy (4.0).
Steel Strips Wheels (SSWL) added 5.95% 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.
Global Markets:
European shares were mixed in early trade on Wednesday as investors awaited key Eurozone inflation data and a closely watched panel discussion featuring global central bank chiefs, led by newly appointed Federal Reserve Chair Kevin Warsh.
Asian markets traded higher despite fresh obstacles in U.S.-Iran talks, as investors remained cautiously optimistic at the start of the new quarter.
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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