Nifty trade above 24,350 in early trade; breadth strong
At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 280.14 points or 0.37% to 77,944.96. The Nifty 50 index added 24.60 points or 0.11% to 24,356.30.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index gained 0.43% and the BSE 250 SmallCap Index rose 0.55%.
The market breadth was strong. On the BSE, 2,111 shares rose and 817 shares fell. A total of 196 shares were unchanged.
FPIs bought shares worth Rs 15491.48 crore in August so far, through 25 August 2026. This follows net cash purchases of Rs 6,731.97 crore in July 2026, while they were net sellers of Rs 53,957.90 crore in June 2026.
Stocks in Spotlight:
Cipla shed 0.45%. The company announced that United States Food and Drug Administration (USFDA) has conducted a follow-up current Good Manufacturing Practices (cGMP) inspection at the company?s manufacturing facility at Pithampur. The inspection was conducted from 17th August to 25th August 2026. On conclusion of the inspection, the company received seven (7) inspectional observations in Form 483.
Varun Beverages fell 0.90%. The company?s board approved the incorporation of a wholly-owned Indian subsidiary to undertake the business of ready-to-drink, alcoholic beverages and allied products. It also approved the incorporation of a joint venture in Tunisia for the production and distribution of beverages, including carbonated soft drinks, juices, water and dairy products, and appointed Prathmesh Mishra as CEO & Managing Director of the proposed subsidiary.
Numbers to Track:
The yield on India's 10-year benchmark federal paper fell 0.31% to 6.849 compared with the previous session close of 6.851.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.4400 compared with its close of 95.7000 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement rose 0.08% to Rs 1,63,011.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 98.97.
The United States 10-year bond yield rose 0.02% to 4.639.
In the commodities market, Brent crude for October 2026 settlement declined $2.41 or 2.72% to $86.17 a barrel.
Global Markets:
Asian stocks traded mixed on Wednesday as investors remained cautious ahead of Nvidia's earnings and key US inflation data. Falling crude oil prices and lower US Treasury yields provided some support to risk assets.
Investors remained focused on Nvidia's results, due after the US market close on Wednesday. The earnings are expected to provide fresh clues on the strength of the artificial intelligence investment cycle and the sustainability of elevated technology valuations.
Falling crude oil prices and lower US Treasury yields provided some support to risk assets. Brent crude fell to $86 a barrel mark as Iran and Oman discussed an interim framework aimed at resuming shipping through the Strait of Hormuz. Lower oil prices helped push the US 10-year Treasury yield down to around 4.63%.
Sentiment was also affected by weaker-than-expected US consumer confidence. The Conference Board's Consumer Confidence Index fell to 89.4 in August from a revised 90.2 in July, marking its lowest level in seven months. The decline was driven mainly by a sharp fall in the expectations index, reflecting increased concerns over business conditions and the labour market.
Trade tensions between the US and Canada also intensified. Canada announced targeted counter-tariffs on US goods, matching the corresponding US tariff rates on affected products. The measures, covering about $27.6 billion of US imports, will take effect on 8 September and include tariffs of 15%, 25% and 50%.
Wall Street ended higher on Tuesday. The Nasdaq Composite rose 0.66%, the S&P 500 gained 0.32% and the Dow Jones Industrial Average advanced 0.30%. Technology and semiconductor stocks rebounded ahead of Nvidia's results, with Nvidia rising 2.19% and AMD gaining 4.91%.
Investors are also awaiting the US July Personal Consumption Expenditures price index, due later on Wednesday. The data is closely watched by the Federal Reserve and could influence expectations for the interest-rate outlook.
Meanwhile, Federal Reserve Chair Kevin Warsh is scheduled to speak at the Jackson Hole Economic Policy Symposium on Friday, 28 August. His remarks will be closely watched for signals on the Fed's policy path.
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