Benchmarks trade in positive terrain; European mrkt advance
Investor sentiment remained cautious as market participants assessed the implications of the newly introduced Closing Auction Session (CAS), while also monitoring foreign institutional investment flows, crude oil prices, geopolitical developments, and global market cues for further direction.
PSU Bank, oil & gas and consumer durables shares advanced while realty, auto and metal stocks declined.
At 13:25 IST, the barometer index, the S&P BSE Sensex advanced 185.76 points or 0.25% to 78,777.87. The Nifty 50 index rose 0.90 points or 0.01% to 24,624.80.
In the broader market the frontline indices, the BSE 150 MidCap Index fell 0.02% and the BSE 250 SmallCap Index jumped 0.39%.
The market breadth was positive. On the BSE, 2,202 shares rose and 1,944 shares fell. A total of 214 shares were unchanged.
Gainers & Losers:
Reliance Industries (up 3.19%), Bharat Electronics (BEL) (up 2.24%), Shriram Finance (up 1.90%), Eternal (up 1.84%) and State Bank of India (up 1.51%) were the major Nifty50 gainers.
Powergrid Corporation of India (down 3.57%), Trent (down 2.13%), Hindalco Industries (down 2.06%), NTPC (down 1.84%) and Bajaj Auto (down 1.78%) were the major Nifty50 losers.
Stocks in Spotlight:
Neuland Laboratories zoomed 8.29% after the pharmaceutical company reported a stellar set of earnings for the quarter ended 30 June 2026, driven by robust revenue growth and a sharp improvement in operating margins. The company's consolidated net profit soared 962.37% year-on-year to Rs 147.67 crore in Q1 FY27 from Rs 13.90 crore in the corresponding quarter of the previous year. Net sales more than doubled, rising 119.16% YoY to Rs 641.58 crore, reflecting strong business momentum during the quarter.
Navin Fluorine International surged 10.92% after company reported a strong set of earnings for the quarter ended 30 June 2026, driven by robust growth across its three business verticals. The company's consolidated net profit jumped 107.67% year-on-year to Rs 243.31 crore in Q1 FY27 from Rs 117.16 crore in the corresponding quarter last year. Revenue from operations rose 44.07% YoY to Rs 1,045.08 crore, reflecting healthy demand across its core business segments.
GMM Pfaudler surged 16.97% after reporting strong profit growth for the quarter ended 30 June 2026. The company's consolidated profit after tax surged 118% YoY and 47% QoQ to Rs 22 crore in Q1 FY27. Operational income increased 16% YoY but declined 2% QoQ to Rs 925 crore in the quarter ended 30 June 2026.
Biocon added 3.91% after the company reported 355% jump in consolidated net profit to Rs 141 crore in Q1 FY27 from Rs 31 crore in Q1 FY26. Revenue from operations rose by 10% year-on-year (YoY) to Rs 4,336 crore during the period under review.
Kolte-Patil Developers jumped 9.53% after the company added six society redevelopment projects across the Mumbai Metropolitan Region, with a combined estimated gross development value (GDV) of around Rs 6,000 crore. The new projects are located in Santacruz West, Andheri West (Lokhandwala), Oshiwara, Versova, Ghatkopar East and Vashi.
Cummins India fell 1.64% after the company reported largely flat earnings for the quarter ended 30 June 2026. On a consolidated basis, the company's profit after tax increased 0.9% YoY but declined 6.2% QoQ to Rs 609.30 crore in Q1 FY27. Net sales rose 17.9% YoY and 13.8% QoQ to Rs 3,426.01 crore in the quarter ended 30 June 2026. Total income increased 17.2% YoY and 12.9% QoQ to Rs 3,563.35 crore.
Global Market:
European market advanced amid broader market optimism for a reopening of the Strait of Hormuz.
Asian market traded lower on Thursday after an AI-driven rally in the previous session, while oil prices remained range-bound as investors assessed the prospects of a peace deal between Iran and the United States.
A senior Iranian source and two regional officials were quoted by the media stating that a proposed deal between Iran and Oman to help end five months of war between Iran and the United States would give Tehran control over ships entering the Gulf through the Strait of Hormuz, one of the biggest concessions yet to Iran.
Oil prices were steady in the $70-a-barrel range. Brent crude futures rose to $79.81 per barrel up 0.37%. U.S. West Texas Intermediate futures edged 0.12% up to $75.31 a barrel.
Overnight on Wall Street, the Dow closed at a record on Wednesday on signs of progress for a peace deal with Iran, while the Nasdaq saw its first decline in five sessions as SpaceX and AMD stumbled following their quarterly earnings.
The Dow Jones Industrial Average rose 263.18 points, or 0.49%, to 54,349.06, the S&P 500 lost 13.00 points, or 0.17%, to 7,723.52 and the Nasdaq Composite lost 221.55 points, or 0.83%, to 26,363.44.
Elon Musk-led SpaceX's revenue nearly doubled and operating losses narrowed in its first earnings report since going public, fueled by its booming Starlink satellite communications and AI businesses, but shares tumbled 13.6% on concerns about how long the company could maintain spending on AI-related investments such as data centers.
Shares could face additional pressure from the expiry of the stock's post-IPO lock-up period starting on Thursday.
Advanced Micro Devices forecast quarterly revenue above estimates, reflecting strong AI demand. However, shares dropped 7% as investors look for greater evidence the massive AI spending will result in faster growth.
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