Nifty trades above 24,000 level; European mrkt advance

The domestic benchmarks indices continued to trade with significant gains in afternoon trade supported by foreign fund inflows and buying in blue-chip stocks. The Nifty traded above the 24,000 level. Investors are also closely tracking the first-quarter earnings season, with the focus on TCS' Q1 FY27 results due later in the day. Market participants will watch the IT major's management commentary for cues on discretionary technology spending by global clients and the demand outlook for the sector.

All the sectoral indices in the NSE were traded in green with realty, media and consumer durables shares led the rally.

At 12:26 IST, the barometer index, the S&P BSE Sensex advanced 503.25 points o 0.67% to 77,013.37. The Nifty 50 index rose 157.50 points or 0.65% to 24,036.85.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 1.54% and the BSE 250 SmallCap Index jumped 1.74%.

The market breadth was strong. On the BSE, 2,923 shares rose and 1,138 shares fell. A total of 225 shares were unchanged.

In the commodities market, Brent crude for September 2026 settlement fell 93 cents or 1.19% to $77.09 a barrel.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 9.72% to 13.25.

Gainers & Losers:

SBI Life Insurance (up 2.55%), Sun Pharmaceuticals Industries (up 2.56%), Grasim Industries (up 2.46%), Max Healthcare Insitute (up 2.20%) and Shirram Finance (up 2.18%) were the major Nifty50 gainers.

Dr Reddy?s Laboratories (down 5.90%), Maruti Suzuki India (down 1.20%), Infosys (down 1.17%), Eicher Motors (down 1%) and Oil & Natural Gas Corporation of India (ONGC) (down 0.89%) were the major Nifty50 losers.

Stocks in Spotlight:

Premier Energies rallied 4.24% after inaugurating its 5.6 GW solar module manufacturing facility at Seetharampur, Telangana. The company also broke ground for a 6 GWh Battery Energy Storage System (BESS) facility and an 18,000 MT per annum aluminium frames plant.

Antony Waste Handling Cell rose 0.87% after the company reported a serious incident at its waste-to-energy (WtE) facility in Pimpri Chinchwad, Pune. The company said a waste mound outside the plant, destabilised by continuous and exceptionally heavy rainfall, collapsed onto the administration building during the afternoon, causing the structure to cave in.

Dr Reddy's Laboratories tumbled 5.79% after the company said commercial supplies of certain batches of its semaglutide product will be delayed following a quality-related issue involving the active pharmaceutical ingredient (API). Semaglutide is widely used for the treatment of type 2 diabetes and obesity.

The company said certain batches of semaglutide were found to be out of specification due to an issue associated with the API used in the product. It is currently investigating the root cause and taking appropriate corrective measures to ensure product quality.

The Phoenix Mills added 4.95% after the company reported a strong operational performance across its retail, commercial office, hospitality and residential businesses for the quarter ended June 2026 (Q1 FY27). The company's retail portfolio continued to deliver robust growth, with consumption rising 32% year-on-year (YoY) to Rs 4,727 crore during the quarter

Insolation Energy zoomed 13.93% after the company has received a contract worth Rs 558.29 crore, from NTPC Renewable Energy, a wholly owned subsidiary of NTPC. The order involves the supply of solar photovoltaic (PV) modules and is scheduled to be executed during the financial year 2026-27.

Solex Energy jumped 2.21% after the company has received a work order from a leading independent power producer for the manufacture and supply of solar photovoltaic (PV) modules worth Rs 628.37 crore. The order involves the supply of N-Type TOPCon 615 Wp/620 Wp Glass-to-Glass (G12R) solar PV modules. The modules are scheduled to be supplied between October 2026 and March 2027.

Global Markets:

European and Asia market advanced despite renewed U.S.-Iran tensions.

China's annual inflation eased to 1.0% in June 2026 from 1.2% in May, below market expectations of 1.1%, marking the slowest pace in three months. Consumer prices fell 0.3% month-on-month, while core inflation eased to 1.0% YoY.

The U.S. launched fresh strikes on Iran in response to Tehran?s attacks on commercial shipping in and around the Strait of Hormuz, U.S. Central Command said Wednesday afternoon.

Earlier in the day, President Donald Trump said he may no longer be interested in negotiating a deal with Iran. Prior to that, he said that the ceasefire between the U.S. and Tehran is ?over? after another wave of attacks in the Middle East.

Overnight on Wall Street, the Dow Jones Industrial Average pulled back from record levels on Tuesday as investors once again appeared to rotate out of names tied to artificial intelligence and as oil prices advanced.

The 30-stock index lost 130.76 points, or 0.25%, after earlier hitting a new all-time intraday high. Ultimately, the Dow closed at 52,925.15. The Nasdaq Composite fell 1.16% to 25,818.69. The S&P 500 slid 0.45% to end at 7,503.85.

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