Equity benchmark indices traded sharply higher in midday deals as investor sentiment improved following reports of a possible truce between the United States and Iran, easing geopolitical concerns that had weighed on markets in recent sessions. In addition, crude prices slump supported
Market participants remained cautiously optimistic even as volatility persisted amid evolving global developments. Strong buying across sectors lifted frontline indices, with broader markets outperforming the benchmarks.
The government has called for an all-party meeting
BSE Sensex rallied 1,781 points and NSE Nifty 50 gained 553 points from the previous close during the session. At 1 pm, the index was trading 1,495.66 points or 2.02 per cent higher at 75,564.11. Nifty 50 gained 476.95 points or 2.08 per cent to trade at 23,389.35.
Broader markets outperformed the benchmarks, with the midcap index rising more than 2 per cent and the smallcap index climbing nearly 3 per cent, reflecting improved risk appetite among investors.
All sectoral indices traded in positive territory. Consumer durables, chemicals, and financial and banking stocks led the rally with gains ranging between 2 and 3 per cent.
Shriram Finance, Trent, Titan lead Nifty 50 gainers, Kotak, Tech Mahindra dips
Among Nifty 50 constituents, Shriram Finance, Trent, Titan Company, Adani Enterprises, Bajaj Finance and Grasim Industries led the gainers. On the downside, Tech Mahindra, Kotak Mahindra Bank and Power Grid Corporation of India were the only laggards.
Market breadth remained firmly positive. Out of 3,252 stocks traded on the NSE, 2,713 advanced, 445 declined and 94 remained unchanged. As many as 21 stocks touched their 52-week highs while 117 hit 52-week lows. Additionally, 95 stocks were locked in the upper circuit and 44 in the lower circuit.
Midcap & smallcap movers
In the midcap segment, Godfrey Phillips India, Kalyan Jewellers India, Motilal Oswal Financial Services , Housing and Urban Development Corporation and Rail Vikas Nigam surged between 5 and 14 per cent. However, Indus Towers and Oil India slipped around 1 per cent each.
Among smallcap stocks, PCBL , Deepak Fertilizers and Petrochemicals Corporation, Affle India, Karur Vysya Bank and Sagility India rallied between 7 and 15 per cent. On the losing side, Trident, IKS Health, Aegis Vopak Terminals, Zensar Technologies and Data Patterns India declined the most.
On the BSE, Avantel Limited and STL joined PCBL Limited, Godfrey Phillips India Limited and Deepak Fertilizers and Petrochemicals Corporation Limited among the top gainers, surging 10 to 15 per cent. Meanwhile, OneSource Specialty Pharma Limited, Ather Energy Limited and Metropolis Healthcare Limited fell between 3 and 6 per cent.