Sensex jumps 537 pts; IT shares advance

The domestic equity benchmarks traded with significant gains in morning trade on Thursday, supported by positive global cues, a stronger rupee and short covering after the recent seven-session losing streak. Buying in IT stocks further lifted market sentiment. The expiry of weekly Sensex derivatives contracts on the BSE also kept traders active, with position adjustments and rollover-related activity likely to influence intraday volatility. The Nifty traded above the 24,200 level.

At 10:30 IST, the barometer index, the S&P BSE Sensex gained 536.66 points or 0.70% to 77,446.27. The Nifty 50 index jumped 132.80 points or 0.55% to 24,210.85.

In the broader market, the BSE 150 MidCap Index rose 0.65% and the BSE 250 SmallCap Index rallied 0.65%.

The market breadth was strong. On the BSE, 2,400 shares rose and 1,281 shares fell. A total of 285 shares were unchanged.

Economy:

India's infrastructure output grew 5% year-on-year in June 2026, accelerating from a revised 3.2% increase in May and marking the fastest growth since January. Growth was led by iron ore output, which rose 43.9%, while cement, steel and electricity production also increased. Refinery product output, however, declined 4.7% amid supply disruptions in Persian Gulf energy exports. The data are based on a revised series with 2022-23 as the base year, which expands the core infrastructure basket to nine industries from eight with the inclusion of iron ore.

India-Singapore Ministerial Roundtable to be held today:

The 4th India-Singapore Ministerial Roundtable will be held in Singapore on 20 August 2026, with Finance Minister Nirmala Sitharaman, External Affairs Minister S. Jaishankar, Commerce and Industry Minister Piyush Goyal and Minister of State Jitin Prasada representing India. The meeting will review ongoing initiatives and explore ways to deepen cooperation in advanced manufacturing, connectivity, digitalisation, healthcare, skills development and sustainability under the India-Singapore Comprehensive Strategic Partnership roadmap. A business roundtable involving key business leaders will also be held alongside the ministerial meeting.

Buzzing Index:

The Nifty IT Index jumped 1.37% to 30,849.20. The index surged 2.10% in two consecutive trading sessions.

Coforge (up 3.25%), Persistent Systems (up 2.40%), Infosys (up 1.70%), Mphasis (up 1.39%), Wipro (up 0.95%), Tata Consultancy Services (up 0.76%), HCL Technologies (up 0.74%), LTM (up 0.64%), Tech Mahindra (up 0.37%) and Oracle Financial Services Software (up 0.20%) advanced.

Stocks in Spotlight :

Glenmark Pharmaceuticals added 1.19% after the company announced that it has received approval from the U.S. Food and Drug Administration (USFDA) for Fluticasone Propionate Nasal Spray USP, 0.05 mg/spray.

United Spirits added 1.48% after the Food Safety and Standards Authority of India (FSSAI) revoked its 29 June 2026 order concerning the sale of a product manufactured at the company's Baramati unit.

Strides Pharma Sciences rallied 5.43% after the company received establishment inspection (EIR) from the US Food and Drug Administration (USFDA), indicating the successful closure of the inspection conducted at the Bengaluru facility.

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