Sensex rises 232 pts; oil & gas shares advance; VIX slides 1.80%

Business Standard

a day ago

The key equity indices traded with minor gains in the afternoon trade, supported by positive global cues. Optimism from Asian markets and encouraging signals from the US-China trade negotiations in London helped lift investor sentiment. Oil & Gas, IT and pharma shares advanced, while PSU bank, FMCG and consumer durables stocks declined. The Nifty traded above the 25,150 mark.
At 13:30 IST, the barometer index, the S&P BSE Sensex, added 231.92 points or 0.28% to 82,613.41. The Nifty 50 index rose 65.40 points or 0.26% to 25,171.250.
In the broader market, the S&P BSE Mid-Cap index shed 0.10% and the S&P BSE Small-Cap index rose 0.03%.
The market breadth was strong. On the BSE, 2,466 shares rose and 1,509 shares fell. A total of 126 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.80% to 13.76.
Gainers & Losers:
HCL Technologies (up 2.79%), Tech Mahindra (up 2.29%), Wipro (up 1.83%), Infosys (up 1.76%) and Oil and Natural Gas Corporation (up 1.66%) were the major Nifty50 gainers.
Power Grid Corporation of India (down 1.74%), Shriram Finance (down 0.99%), Adani Ports and Special Economic Zone (down 0.95%), Tata Consumer Products (down 0.89%) and Adani Enterprises (down 0.87%) were the major Nifty50 Losers.
Stocks in Spotlight:
Waaree Energies jumped 2.40% after its wholly owned subsidiary, Waaree Solar Americas has received an order for supply of 599 MW solar modules.
Talbros Automotive Components (TACL) advanced 2.44% after the company, along with JV entities, announced the receipt of orders worth Rs 580 crore for both domestic and exports market from leading OEMs.
Hilton Metal Forging hit an upper limit of 5% after the company announced the successful manufacturing of forged railway wagon wheel sets.
KP Green Engineering rose 1.10%. after the company announced that it has secured new orders totaling Rs 97.27 crore from multiple clients.
IIFL Finance rose 0.87%. The companys board has approved raising funds aggregating to Rs 600 crore through non convertible debentures (NCDs) on a private placement basis.
Global Markets:
European markets opened higher on Wednesday as investors awaited a key U.S. inflation report and weighed the potential impact of a possible U.S.-China trade agreement on global economic sentiment.
Asian markets traded higher as optimism brewed over ongoing U.S.-China trade talks, which U.S. Commerce Secretary Howard Lutnick called "productive."
Both sides confirmed they have struck a trade agreement, following two days of negotiations in London. While U.S. Treasury Secretary Scott Bessent exited the talks, Lutnick and Trade Representative Jamieson Greer stayed back to iron out the final details. Talks may stretch into Wednesday if needed, according to Lutnick.
Back on Wall Street, the mood was upbeat. The Dow ticked up 0.25%, the S&P 500 climbed 0.55%, and the Nasdaq added 0.63%, marking a three-day winning streak for the latter two. Tech stocks led the charge, with chipmakers like Nvidia rallying after reports suggested Trump may ease export curbs on semiconductors to China.
All eyes now shift to U.S. CPI data due Wednesday, expected to show a slight uptick in Mays inflation.