Nifty trades above 24,050; PSU bank shares advance
At 14:30 IST, the barometer index, the S&P BSE Sensex jumped 615.77 points or 0.81% to 77,124.25. The Nifty 50 index rose 188.45 points or 0.79% to 24,070.50.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 1.58% and the BSE 250 SmallCap Index added 1.85%.
The market breadth was weak. On the BSE, 2,945 shares rose and 1,188 shares fell. A total of 207 shares were unchanged.
Buzzing Index:
The Nifty PSU Bank index rose 1.71% to 8,210.35. The index declined 4.27% in the past five trading sessions.
Canara Bank (up 2.72%), Punjab National Bank (up 2.43%), Bank of India (up 2.15%), Indian Bank (up 2.14%), Bank of Baroda (up 2.02%), Union Bank of India (up 1.81%), Central Bank of India (up 1.44%), Punjab & Sind Bank (up 1.41%), Bank of Maharashtra (up 1.14%) and State Bank of India (up 0.88%) jumped.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.33% to 6.744 compared with the previous session close of 6.766.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.3700 compared with its close of 95.4800 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement rose 0.66% to Rs 1,44,660.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.10% to 100.97.
The United States 10-year bond yield rose 0.20% to 4.576.
In the commodities market, Brent crude for September 2026 settlement shed 69 cents or 0.88% to $77.33 a barrel.
Stocks in Spotlight:
Eimco Elecon (India) fell 2.02%. The company reported a 6.2% rise in net profit to Rs 15.37 crore on a 14.7% increase in revenue to Rs 77.52 crore in Q1 FY27 as compared with Q1 FY26.
Insolation Energy zoomed 11.81% after it had received a contract worth Rs 558.29 crore, from NTPC Renewable Energy, a wholly owned subsidiary of NTPC.
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