Market near day's high; European mrkt advance

The domestic equity benchmarks traded with moderate gains in afternoon trade, hovering near their intraday highs, as upbeat June-quarter earnings, stock-specific buying and sustained foreign institutional inflows kept investor sentiment buoyant. The Nifty traded above the 24,400 mark and was close to its day's high of 24,429.40.

Media, auto and pharma shares advanced while IT and FMCG shares declined.

At 13:25 IST, the barometer index, the S&P BSE Sensex advanced 334.18 points or 0.42% to 78,259.49. The Nifty 50 index added 105.10 points or 0.43% to 24,425.70.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.59% and the BSE 250 SmallCap Index jumped 0.76%.

The market breadth was strong. On the BSE, 2,573 shares rose and 1,486 shares fell. A total of 209 shares were unchanged.

Gainers & Losers:

Bajaj Finance (up 8.53%), Bajaj Finserv (up 5.82%), M&M (up 4.67%), Shriram Finance (up 5.82%) and Sun Pharmaceuticals (up 1.83%) were the major Nifty50 gainers.

Eternal (down 2.54%), Tata Consultancy Services (TCS) (down 2.29%), Infosys (down 1.54%), Max Healthcare Institute (down 1%) and Nestle India (down 0.84%) were the major Nifty50 losers.

Stocks in Spotlight:

Bajaj Finserv (BFS) jumped 7.95% after the company reported a 12.31% increase in consolidated net profit to Rs 3,132.35 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 2,789.05 crore in Q1 FY26. Revenue from operations rose 19.13% YoY to Rs 42,036.90 crore in Q1 FY27.

Thermax declined 4.65% after the company reported an 83.44% year-on-year decline in consolidated net profit to Rs 25.24 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 152.38 crore recorded in Q1 FY26. Revenue from operations increased 6.73% YoY to Rs 2,302.73 crore in Q1 FY27.

Data Patterns (India) declined 3.42% after the company reported a 13.49% decline in standalone net profit to Rs 22.06 crore in Q1 FY27 as against Rs 25.50 crore in Q1 FY26. Revenue from operations rose 16.82% year on year (YoY) to Rs 116.03 crore in the quarter ended 30 June 2026.

Madhav Infra Projects fell 1.13% to Rs 7.87 after the company reported a 16.44% decline in consolidated net profit to Rs 6.25 crore in Q1 FY27 as against Rs 7.48 crore in Q1 FY26. Revenue from operations rose 0.94% year on year (YoY) to Rs 88.37 crore in the quarter ended 30 June 2026.

Astra Microwave Products surged 8.96% after the company said it had secured an order worth Rs 2,205.23 crore from Hindustan Aeronautics for the procurement of critical systems for the Uttam Radar programme. The company has received an order to supply 122 Advanced Array Assembly Units (AAAU) and 121 Interface Frames for the Uttam Radar. The order value of Rs 2,205.23 crore is inclusive of all applicable taxes and GST.

Global Market:

European market advanced tracking a global rally fueled by strong earnings from Amazon.

Asian markets mostly advanced with Wall Street on Friday as South Korea's battered market made a record comeback, stirring hopes that the recent selloff in AI-linked assets may be near an end.

The Bank of Japan kept its policy rate steady on Friday, as it warned that core inflation in the country could exceed its 2% target. Japan?s central bank?s move to hold rates at 1% was an 8-1 decision, with board member Hajime Takata proposing a hike to 1.25%.

China?s factory activity unexpectedly contracted in July for the first time since February, the official manufacturing purchasing managers? index fell to 49.2 from 50.3 in June, National Bureau of Statistics data showed Friday.

In the commodities market, Brent crude for September 2026 settlement lost 95 cents or 1.07% to $88.08 a barrel.

A drone strike on gas vessels in Egypt's Mediterranean port of Damietta signalled a potential new front in the U.S.-Iran war, raising the prospect of threats to navigation through the Suez Canal, one of the last remaining export routes for Saudi oil.

Wall Street ended sharply higher on Thursday, with chip stocks jumping and Microsoft logging its biggest daily percentage gain in 18 years after the technology giant gave a stellar forecast that eased fears about massive spending on AI infrastructure.

The S&P 500 climbed 1.66% to end the session at 7,437.63 points. The Nasdaq gained 2.78% to 25,122.18 points, while the Dow Jones Industrial Average rose 1.19% to 52,208.06 points.

Microsoft jumped over 15%, boosting its stock market value by $450 billion, the greatest-ever single-day increase for a company on Wall Street.

The tech heavyweight forecast quarterly sales and cloud growth above expectations. It also reported capital expenditures below estimates and said it expects to keep generating cash through its fiscal 2027 that has just begun.

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