|
The frontline equity benchmarks traded with strong gains in the mid-afternoon trade, the Nifty traded above the 24,100 level. Sentiment was supported by reports of Iran proposing a peace initiative to the US aimed at de-escalating ongoing geopolitical tensions, which boosted global risk appetite, along with steady Q4 earnings updates. At 14:30 ST, the barometer index, the S&P BSE Sensex jumped 702.83 points or 0.92% to 77,367.04. The Nifty 50 index advanced 209.05 points or 0.87% to 24,107.95. The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 1.45% and the BSE 250 SmallCap Index surged 1.93%. The market breadth was strong. On the BSE, 3,045 shares rose and 1,221 shares fell. A total of 226 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 6.46% to 18.44. Buzzing Index: The Nifty IT index jumped 2.24% to 29,171. The index tumbled 10.08% in the past three consecutive trading sessions. Oracle Financial Services Software (up 5.07%), Mphasis (up 3.93%), Coforge (up 3.77%), Tech Mahindra (up 2.58%), Wipro (up 2.56%), Tata Consultancy Services (up 2.11%), HCL Technologies (up 1.52%), Infosys (up 1.5%), LTM (up 1.35%) and Persistent Systems (up 1.32%) advanced. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.30% to 6.954 compared with previous session close of 6.956. In the foreign exchange market, the rupee lowered against the dollar. The partially convertible rupee was hovering at 94.2125 compared with its close of 94.1600 during the previous trading session. MCX Gold futures for 5 June 2026 settlement fell 0.31% to Rs 152,220. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.23% to 98.142. The United States 10-year bond yield advanced 0.21% to 4.318. In the commodities market, Brent crude for June 2026 settlement jumped $2.74 or 2.60% to $108.07 a barrel. Stocks in Spotlight: Mangalore Refinery and Petrochemicals (MRPL) fell 7.15% after the company's standalone net profit tumbled 67.1% to Rs 119.36 crore on a 2.6% fall in revenue from operations (excluding excise duty) to Rs 23,949.69 crore in Q4 FY26 over Q4 FY25. Vipul Organics added 0.87%. The company announced that its membrane division, AdiMem Technologies, has commenced commercial sales of membranes.
|