Nifty trades above 24,200 level; media shares in demand

The key equity barometers traded with major gains in the early afternoon trade. Market sentiment was supported by upbeat corporate earnings, optimism over the earnings outlook, positive global cues, continued foreign fund inflows, and investor focus on the U.S. Federal Reserve's policy decision. Media shares advanced after declining in the past trading session. Nifty traded above the 24,200 level.

At 12:30 IST, the barometer index, the S&P BSE Sensex, surged 820.54 points or 1.07% to 77,586.46. The Nifty 50 index jumped 247.20 points or 1.03% to 24,232.95.

In the broader market, the BSE 150 MidCap Index rose 0.60% and the BSE 250 SmallCap Index rallied 1.12%.

The market breadth was positive. On the BSE, 2,514 shares rose and 1,432 shares fell. A total of 229 shares were unchanged.

Economy:

Index of Industrial Production (IIP) expanded by 7.3% year-on-year growth in June 2026 up from 5% in May driven by a strong rebound in manufacturing activity and robust growth in the electricity and gas supply segment. Manufacturing output increased 7.8%, while the Electricity & Gas Supply segment recorded a sharp 10.6% growth during the month. Within manufacturing, 19 of the 23 industry groups recorded.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.62% to 12.11. The Nifty 25 August 2026 futures were trading at 24,298.60, at a premium of 65.65 points as compared with the spot at 24,232.95.

The Nifty option chain for the 25 August 2026 expiry showed a maximum call OI of 67.2 lakh contracts at the 24,000 strike price. A maximum put OI of 78.3 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty Media index rose 1.33% to 1,579.40. The index shed 0.53% in the past trading session.

Sun TV Network (up 5.05%), PVR Inox (up 2.22%), D B Corp (up 1.45%), Prime Focus (up 1.13%) and Saregama India (up 0.97%) were the top gainers. Among the other gainers were Nazara Technologies (up 0.66%), Network 18 Media & Investments (up 0.28%)jumped.

Stocks in Spotlights:

Gland Pharma rose 2.47% after the company received approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Sugammadex Injection.

Paradeep Phosphates surged 12.53% after the company reported a 23.93% jump in consolidated net profit to Rs 392.54 crore in Q1 FY27, compared with Rs 316.75 crore in Q1 FY26.

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