Nifty trade above 24,600 in early trade; breadth strong
At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 337.29 points or 0.41% to 78,785.34. The Nifty 50 index rose 7.20 points or 0.03% to 24,607.70.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.42% and the BSE 250 SmallCap Index rose 0.74%.
The market breadth was strong. On the BSE, 2,282 shares rose and 903 shares fell. A total of 185 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,446.47 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 936.14 crore in the Indian equity market on 04 August 2026, provisional data showed.
Stocks in Spotlight:
Oil & Natural Gas Corporation (ONGC) shed 0.37%. The company?s consolidated net profit climbed 21.37% YoY to Rs 1,189.89 crore in Q1 FY27 compared with Rs 980.40 crore in Q1 FY26. Revenue from operations jumped 25.68% to Rs 20,498.73 crore in Q1 FY27, compared with Rs 16,310.3 crore in Q1 FY26.
Bharti Airtel rose 0.81%. The company reported 37.32% jump in consolidated net profit to Rs 8,167.4 crore on 18.35% rise in revenue from operations to Rs 58,539.1 crore in Q1 FY27 over Q1 FY26.
Marico fell 3.22%. The company reported a 25% YoY jump in consolidated net profit to Rs 630 crore in Q1 FY27, driven by strong domestic volume growth and robust international business performance. Revenue from operations increased 23% YoY to Rs 3,957 crore in Q1 FY27, supported by 11% underlying volume growth in the India business and 15% constant currency growth in the international business.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.48% to 6.783 compared with the previous session close of 6.816.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.0075 compared with its close of 95.2800 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement rose 0.63% to Rs 1,45,225.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 99.81.
The United States 10-year bond yield shed 0.52% to 4.603.
In the commodities market, Brent crude for October 2026 settlement shed 86 cents or 1.08% to $78.50 a barrel.
Global Markets:
Asian stock markets jumped on Wednesday as strong earnings and a resurgence of demand for tech lifted Wall Street to record peaks.
The investor sentiment was further supported by an ongoing slide in oil prices as Qatar said mediators were making progress in efforts to end the U.S.-Iran war, though details were lacking.
Brent crude eased 0.4% to $79.02 a barrel, a long way from its July top of $102, while U.S. crude dropped 0.5% to $75.35.
The pullback in oil provided some relief from inflation fears and boosted bonds globally, with 10-year Treasury yields now at 4.6187%, down from last week's high of 4.747%.
Markets also sharply pared the probability of a September rate hike from the Federal Reserve to 57%, from 67%.
Fed Bank of Kansas City President Jeff Schmid, however, used a speech on Tuesday to call for tighter policy to help bring inflation back to the central bank's 2% target.
Overnight in the US, the S&P 500 and the Dow closed at record highs on Tuesday, powered by the latest batch of earnings from AI-related companies such as Caterpillar and Palantir that assuaged demand concerns.
The Dow Jones Industrial Average rose 907.47 points, or 1.71%, to 54,085.88, the S&P 500 gained 136.02 points, or 1.79%, to 7,736.52 and the Nasdaq Composite gained 671.10 points, or 2.59%, to 26,584.99.
Palantir Technologies soared 29.5% and recorded its biggest daily percentage gain since February 2024, after raising its annual revenue forecast.
Caterpillar, seen as a bellwether for the global industrial economy, jumped 5.6% after raising its annual revenue growth forecast, as the buildout of AI data centers has fueled demand for its power generation and construction equipment.
Investors have been closely monitoring results from AI-linked companies this earnings season for any signs the massive spending in the space will be justified.
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