Nifty trades above 24,550; metal shares shine
At 14:30 IST, the barometer index, the S&P BSE Sensex jumped 638.27 points or 0.82% to 78,732.91. The Nifty 50 index added 207 points or 0.85% to 24,590.60.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.92% and the BSE 250 SmallCap Index jumped 1.51%.
The market breadth was strong. On the BSE, 2,901 shares rose and 1,416 shares fell. A total of 207 shares were unchanged.
CAS begins for F&O stocks:
Effective 3 August 2026, the Closing Auction Session (CAS) has been introduced for stocks in the F&O segment, revising market closing timings while keeping the opening time unchanged. Continuous trading in F&O stocks will now end at 3:15 pm, followed by the closing auction session, while non-F&O stocks will continue to trade until 3:30 pm. Trading in index and stock futures and options will conclude at 3:40 pm. The new mechanism is aimed at enhancing price discovery for the official closing price, reducing end-of-day volatility, and facilitating transparent execution of large institutional orders.
RBI MPC meeting kicks off today:
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) begins its three-day meeting today amid rising global inflationary pressures, elevated crude oil prices and a growing number of central banks that have tightened monetary policy in recent months. The MPC will meet from 3 to 5 August 2026, with RBI Governor Sanjay Malhotra scheduled to announce the policy decision on 5 August 2026.
Buzzing Index:
The Nifty Metal index rose 0.96% to 12,841.40. The index jumped 3.89% in the four consecutive trading sessions.
APL Apollo Tubes (up 6.73%), National Aluminium Company (up 4.17%), Welspun Corp (up 3.73%), Hindustan Zinc (up 1.9%), Hindalco Industries (up 1.7%), Adani Enterprises (up 1.68%), JSW Steel (up 1.01%), Jindal Steel (up 1%), Steel Authority of India (up 0.99%) and Hindustan Copper (up 0.98%) jumped.
APL Apollo Tubes jumped 6.64% after the company reported 10.9% rise in consolidated net profit to Rs 263.1 crore on an 8.5% increase in net revenue to Rs 5,606.7 crore in Q1 FY27 as compared with Q1 FY26.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.15% to 6.843 compared with the previous session close of 6.833.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.3100 compared with its close of 95.4350 during the previous trading session.
MCX Gold futures for the 5 October 2026 settlement rose 0.21% to Rs 1,43,670.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 99.84.
The United States 10-year bond yield fell 1.07% to 4.694.
In the commodities market, Brent crude for the October 2026 settlement shed $3.78 or 4.30% to $84.15 a barrel.
Stocks in Spotlight:
Zee Entertainment Enterprises (ZEEL) tumbled 10.17% after the Securities and Exchange Board of India (Sebi) passed its final order in the matter relating to the unauthorised pledge of the company's Hyderabad land.
Sri Lotus Developers and Realty added 1.10% after the company reported 77% jump in net profit to Rs 46 crore on a 116% increase in total revenue to Rs 132 crore in Q1 FY27 as compared with Q1 FY26.
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