Nifty trades above 24,400 level; metal shares advance

The domestic equity benchmarks traded with modest gains in mid-afternoon trade as positive stock-specific triggers lifted investor sentiment despite lingering global uncertainties. Market participants will continue to monitor the progress of the monsoon, along with movements in crude oil, gold, and silver prices for further directional cues. The Nifty traded above the 24,400 level. Metal shares witnessed buying demand for the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex jumped 481.95 points or 0.62% to 78,245.86. The Nifty 50 index surged 139.60 points or 0.58% to 24,410.45.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index rose 0.36% and the BSE 250 SmallCap Index gained 0.19%.

The market breadth was negative. On the BSE, 1,934 shares rose and 2,326 shares fell. A total of 208 shares were unchanged.

Buzzing Index:

The Nifty Metal index advanced 0.88% to 12,708.80. The index jumped 2.56% in the three consecutive trading sessions.

Welspun Corp (up 8.11%), Hindalco Industries (up 2.73%), National Aluminium Company (up 1.15%), APL Apollo Tubes (up 1.03%), Jindal Steel (up 1%), Hindustan Zinc (up 0.83%), JSW Steel (up 0.63%), Tata Steel (up 0.48%), Jindal Stainless (up 0.18%) and Vedanta (up 0.16%) rose.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.16% to 6.696 compared with the previous session close of 6.707.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.2600 compared with its close of 95.1850 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement shed 0.10% to Rs 1,47,226.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.09% to 100.95.

The United States 10-year bond yield fell 0.36% to 4.463.

In the commodities market, Brent crude for August 2026 settlement fell 7 cents or 0.10% to $71.73 a barrel.

Stocks in Spotlight:

Faalcon Concepts hit the 20% upper circuit after the company secured a Rs 101.93 crore work order from Splendor Information Technology.

IndusInd Bank jumped 2.76% after the bank?s deposits jumped 4.5% to Rs 4,14,992 crore as on 30th June 2026 compared with Rs 3,97,144 crore as on 30th June 2025.

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