Sensex jumps 570 pts; realty shares in demand

The key equity barometers traded with modest gains in mid-morning trade, tracking positive global cues after weaker-than-expected US jobs data reinforced expectations of a Federal Reserve interest rate cut at its upcoming policy meeting. Improved global risk sentiment lifted broad-based buying, with IT stocks leading gains on hopes of a more accommodative US monetary policy. The Nifty traded a tad above the 24,350 mark. Realty shares extended gains for the fourth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, jumped 570.37 points or 0.74% to 78,072.49. The Nifty 50 index surged 182.60 points or 0.76% to 24,358.30.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index shed 0.05% and the BSE 250 SmallCap Index gained 0.21%.

The market breadth was positive. On the BSE, 2,243 shares rose and 1,784 shares fell. A total of 233 shares were unchanged.

In the commodities market, Brent crude for September 2026 settlement added 58 cents or 0.81% to $72.38 a barrel.

Economy:

India's services sector remained in expansion mode in June, although growth lost momentum amid challenging market conditions and softer client demand. The seasonally adjusted HSBC India Services PMI Business Activity Index eased to 57.4 in June from 59.8 in May, marking the weakest pace of expansion in 17 months, while remaining well above the 50-point threshold that separates growth from contraction. Hiring activity was largely stagnant, business confidence weakened, and cost pressures eased, while new export orders grew at the fastest pace in three months.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.17% to 11.90. The Nifty 28 July 2026 futures were trading at 24,437.80, at a premium of 79.5 points as compared with the spot at 24,358.30.

The Nifty option chain for the 28 July 2026 expiry showed a maximum call OI of 68.9 lakh contracts at the 25,000 strike price. A maximum put OI of 71 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty Realty index rose 1.67% to 886.30. The index rose 8.04% in the four consecutive trading sessions.

Lodha Developers (up 3.25%), Oberoi Realty (up 2.27%), Phoenix Mills (up 1.92%), DLF (up 1.79%), Aditya Birla Real Estate (up 1.66%), Anant Raj (up 1.46%), Godrej Properties (up 1.34%), Brigade Enterprises (up 0.83%), Sobha (up 0.66%) jumped.

Stocks in Spotlight:

Bluspring Enterprises jumped 5.35% after its subsidiary, STEAG Energy Services (India), secured a comprehensive operations and maintenance contract from Vedanta Aluminium Metal for a captive power plant.

Union Bank of India fell 3.63%. The company has reported 7.5% year-on-year (YoY) growth in global business for the first quarter of FY27, which increased to Rs 23.79 lakh crore as of 30 June 2026.

Krystal Integrated Services rose 0.49%. The company said that it has secured a work order from the Director of Backward Classes (BC) Welfare Department, Andhra Pradesh, for providing cleaning and sanitation services across government hostels.

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