Barometers surge over 1%; private bank shares jump

The key equity indices traded with substantial gains in mid-afternoon trade. Sentiment improved after the US Federal Reserve kept interest rates unchanged. Buying by foreign portfolio investors (FPIs), who purchased shares worth Rs 872 crore on Wednesday, supported the recovery. However, elevated crude oil prices and US Treasury yields near 5% remained key concerns. The Nifty traded above 22,800 mark.

Private bank shares gained for second consecutive trading sessions.

At 14:25 IST, the S&P BSE Sensex advanced 841.34 points or 1.15% to 74,088.75. The Nifty 50 index rose 233.95 points or 1.03% to 22,934.20.

In the broader market, the Nifty MidCap 150 Index rose 0.51% and the BSE 250 SmallCap Index added 0.54%.

The market breadth was strong. On the NSE, 2,152 shares rose and 1,355 shares fell. A total of 111 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 4.69% to 15.48.

Buzzing Index:

The Nifty Private Bank Index advanced 1.05% to 27,003.50. The index rose 1.41% the two consecutive trading sessions.

Bandhan Bank (up 3.73%), Kotak Mahindra Bank (up 3.51%), IndusInd Bank (up 1.34%), Federal Bank (up 0.65%) and ICICI Bank (up 0.3%) jumped.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined 0.12% to 7.420 compared with previous session close of 7.440.

In the foreign exchange market, the rupee edge lower against the dollar. The partially convertible rupee was hovering at 95.3325 compared with its close of 95.2800 during the previous trading session.

MCX Gold futures for the 4 December 2026 settlement fell 0.32% to Rs 1,43,252.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 102.25.

The United States 10-year bond yield fell 1.21% to 4.992.

In the commodities market, Brent crude for the December 2026 settlement declined 81 cents or 0.70% to $114.51 a barrel.

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