Indices trade sideways in early trade; breadth strong
At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 106.94 points or 0.14% to 78,746.75. The Nifty 50 index fell 174.35 points or 0.7% to 24,599.95.
The broader market outperformed the frontline indices. the BSE 150 MidCap Index added 0.28% and the BSE 250 SmallCap Index rose 0.48%.
The market breadth was strong. On the BSE, 1,917 shares rose and 1,117 shares fell. A total of 189 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 922.26 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,571.18 crore in the Indian equity market on 03 August 2026, provisional data showed.
Stocks in Spotlight:
Indian Renewable Energy Development Agency (IREDA) fell 1.34%. The company reported 37.12% jump in consolidated net profit to Rs 338.53 crore on 14.80% increase in revenue from operations to Rs 2,249.54 crore in Q1 FY27 over Q1 FY26.
SBI Funds Management declined 1.09%. The company?s consolidated net profit rose 3.70% YoY to Rs 880.26 crore in Q1 FY27. Total income rose 4.54% to Rs 1,389.89 crore in Q1 FY27 as compared with Rs 1,328.26 crore in Q1 FY26.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.01% to 6.834 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 95.3125 compared with its close of 95.3700 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement rose 0.39% to Rs 1,43,470.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 100.01.
The United States 10-year bond yield rose 0.26% to 4.696.
In the commodities market, Brent crude for the October 2026 settlement added $1.15 or 1.37% to $84.92 a barrel.
Global Markets:
Asian markets made cautious gains at the start of trading as investors followed a global rally, with oil prices holding near the lowest levels in weeks as the U.S.-Iran conflict remained at a stalemate.
Oil prices made limited gains as trading resumed in Asia, with Brent crude up 0.6% at $84.29 a barrel, after falling to a three-week low on Monday as U.S. President Donald Trump said he had held off on a fresh attack on Iran as a gesture of goodwill in peace talks. However, Tehran has denied that any negotiations are taking place.
Market pricing continues to indicate that September's Federal Reserve meeting will bring an increase to interest rates. Fed funds futures are pricing an implied 65% probability of a 25-basis-point hike at the U.S. central bank's next two-day meeting ending on September 16, according to the CME Group's FedWatch tool.
Federal Reserve Bank of New York President John Williams reportedly said he remained optimistic that inflation pressures are on track to ease gradually, but said the Fed will hike rates if inflation doesn't slow.
Overnight in the US, markets took confidence from data showing that U.S. manufacturing activity increased to the highest level in more than four years in July, sending the Dow Jones to a record close.
The Dow Jones Industrial Average rose 693.38 points, or 1.32%, to 53,178.41, the S&P 500 gained 110.78 points, or 1.48%, to 7,600.50 and the Nasdaq Composite gained 540.04 points, or 2.13%, to 25,913.90.
Investors will receive several readings on the labor market this week, culminating with the government jobs report on Friday.
Powered by Capital Market - Live News