Nifty trades above 24,450; IT shares advance
At 13:30 IST, the barometer index, the S&P BSE Sensex rose 50.96 points or 0.07% to 78,336.03. The Nifty 50 index gained 23 points or 0.09% to 24,453.35.
In the broader market, the BSE 150 MidCap Index shed 0.26% and the BSE 250 SmallCap Index gained 0.67%.
The market breadth was weak. On the BSE, 1,513 shares rose and 2,432 shares fell. A total of 195 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.78% to 11.73.
Gainers & Losers:
Infosys (up 3.49%), HCL Technologies (up 2.97%), Tech Mahindra (up 2.72%), SBI Life Insurance Company (up 2.51%) and Titan Company (up 2.48%) were the major Nifty50 gainers.
Trent (down 11.86%), Adani Enterprises (down 1.72%), Hindalco Industries (down 1.57%), Coal India (down 1.53%) and Larsen & Taubro (down 1.36%) were the major Nifty50 losers.
Stocks in Spotlight:
Texmaco Rail & Engineering fell 1.92%. The company said that it has received a letter of award (LoA) worth Rs 70.72 crore from Central Warehousing Corporation for the manufacture and supply of BLSS rakes along with Brake Van.
Blue Jet Healthcare rose 1.48% after the company announced the launch of its qualified institutional placement (QIP) issue and fixed the floor price at Rs 531.70 per equity share.
TARC surged 6.26% after the company reported a strong operational performance for the quarter ended 30 June 2026, driven by robust demand across its premium housing portfolio.
Varun Beverages (VBL) fell 2.07%. The company has announced that its subsidiary, VBL Industries (Kenya), has entered into an agreement to acquire the value-added dairy beverages, juices and packaged drinking water business of Devyani Food Industries (Kenya) (DFIL Kenya).
Jubilant FoodWorks rose 2.68% after its consolidated revenue from operations stood at Rs 2,569.3 crore in Q1 FY27, registering a 14.1% year-on-year (YoY) growth.
Global Markets:
European stocks edged lower on Tuesday as investors booked profits following a strong rally over the past week, while caution prevailed ahead of key global economic data releases and the release of the Federal Reserve?s latest meeting minutes.
Asian markets traded lower as investors awaited the release of minutes from the latest US Federal Open Market Committee (FOMC) meeting.
Meanwhile, the Japanese yen struggled on the weaker side of 162 per dollar in early Asia trade and weakened to nearly its lowest against the British pound since 2007 at 217.09, having slid to a new low overnight.
Japan is scheduled to hold an auction of 30-year government bonds on Tuesday. If the auction is weak, government bond yields could rise further and accelerate selling of the yen, a global research house has reportedly said.
Oil edged higher, but gains were limited as traders turned their attention to supply increases and demand prospects after prices hit pre-Iran war levels on Monday. The U.S. crude rose 0.54% to $68.92 a barrel and Brent rose to $72.34 per barrel, up 0.49% on the day.
President Donald Trump said on Monday the United States would either reach a deal with Iran or finish the job, renewing his threat of military action as Tehran projects defiance following the funeral of former Supreme Leader Ayatollah Ali Khamenei.
Overnight in the US, stocks maintained their positive momentum on Monday following a strong week on Wall Street.
The S&P 500 gained 0.72% to end at 7,537.43, while the Nasdaq Composite advanced 1.12% to 26,121.16 as markets started a new trading week following Friday?s U.S. Independence Day holiday. The Dow Jones Industrial Average climbed 155.84 points, or 0.29%, for a record close of 53,055.91.
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