Markets extended their morning gains sharply through the midday session, with both benchmark indices trading well above their opening levels by 12.45 pm. The was quoting at 79,227.19, up 706.89 points or 0.90 per cent from its previous close of 78,520.30. The NSE Nifty 50 was at 24,545.30, gaining 180.45 points or 0.74 per cent over its previous close of 24,364.85. The has broken above the 24,500 resistance level that analysts had flagged as the key trigger for further upside.
Broader market breadth remained firmly positive on the BSE. Of 4,274 stocks traded, 2,667 advanced against 1,418 declines, with 189 unchanged. As many as 136 stocks hit 52-week highs against just 21 at 52-week lows. The number of stocks in the upper circuit stood at 182, compared to 130 in the lower circuit.
Trent was the standout performer on the Nifty 50, surging 3.98 per cent to ₹4,411.50 from its previous close of ₹4,242.80, with over 15.16 lakh shares traded valued at ₹66,139.14 lakh. Bajaj Finance climbed 2.83 per cent to ₹943.70 from ₹917.75 on heavy volumes of 42.28 lakh shares. ICICI Bank rose 2.01 per cent to ₹1,383.50 from ₹1,356.20, becoming one of the most actively traded stocks with nearly 98.09 lakh shares worth over ₹1,34,962 lakh changing hands. Adani Ports gained 1.88 per cent to ₹1,608.00 from ₹1,578.40, while HDFC Bank added 1.73 per cent to ₹809.25 from ₹795.45, attracting the highest traded value on the index at over ₹1,49,959 lakh across 1.86 crore shares.
SBI Life Insurance remained the session’s biggest drag, deepening its morning losses to fall 4.12 per cent to ₹1,900.90 from its previous close of ₹1,982.50, with 32.68 lakh shares traded worth ₹62,524.67 lakh. Dr. Reddy’s Laboratories declined 0.94 per cent to ₹1,221.00 from ₹1,232.60. Defence electronics firm BEL fell 0.93 per cent to ₹453.30 from ₹457.55. Jio Financial Services shed 0.89 per cent to ₹235.05 from ₹237.15, with a high turnover of 2.89 crore shares. Reliance Industries slipped 0.51 per cent to ₹1,356.30 from ₹1,363.30 on volumes of 97.41 lakh shares worth ₹1,32,633.20 lakh.
The rally was broadly driven by banking and consumer stocks, while insurance, pharma, and select large-cap energy names continued to face selling pressure. The sharp outperformance of financial stocks pushed the Nifty above technical resistance, a level analysts had been watching closely since morning trade.
On the commodities front, Crude Oil was trading near ₹8,120 in range-bound conditions. COMEX Gold was consolidating above $4,800, with MCX Gold trading within the ₹1,53,500–₹1,54,000 band. MCX Silver was hovering above ₹2,51,000 amid elevated geopolitical-driven volatility. The USD/INR pair remained range-bound within the ₹92.4–₹93.5 zone.
The primary driver of sentiment remained the geopolitical situation in West Asia, with reports of Iran agreeing to send a delegation for a second round of negotiations with the United States keeping risk appetite supported. With approximately two and a half hours of trade remaining, market direction will likely hinge on any fresh developments from the ceasefire talks and the Q4 earnings releases due after market hours.