Nifty trades above 24,600 level; European mkt advance
Pharma, auto and metal shares advanced, while PSU bank and FMCG shares corrected.
At 13:30 IST, the barometer index, the S&P BSE Sensex advanced 273.02 points or 0.34% to 80,508.61. The Nifty 50 index gained 126.54 points or 0.52% to 24,613.85.
In the broader market, the S&P BSE Mid-Cap index rose 0.59% and the S&P BSE Small-Cap index added 0.51%.
The market breadth was positive. On the BSE 2,159 shares rose and 1,790 shares fell. A total of 196 shares were unchanged.
Economy:
Indias retail inflation, measured by the Consumer Price Index (CPI), eased to 1.55% in July, down 55 basis points from 2.10% in June, according to data from the Ministry of Statistics & Programme Implementation. This marks the lowest year-on-year inflation rate since June 2017.
Gainers & Losers:
Apollo Hospitals Enterprise (up 6.92%), Hindalco Industrie (up 5.15%), Cipla (up 2.84%), Hero MotoCorp (up 2.76%) and Dr. Reddy's Laboratories (up 2.61%) were the major Nifty50 gainers.
IndusInd Bank (down 1.07%), Adani Ports and Special Economic Zone (down 0.68%), Adani Enterprises (down 0.35%), Titan Company (down 0.30%) and ITC (down 0.24%) were the major Nifty50 losers.
Apollo Hospitals Enterprise jumped 6.92% after the company reported 41.80% surge in consolidated net profit to Rs 432.80 crore on 14.87% increase in revenue from operations to Rs 5,842.10 crore in Q1 FY26 over Q1 FY25.
Hindalco Industries rallied 5.51% after the company reporting a strong set of June quarter numbers, aided by a stellar India Aluminium performance and resilient results from its US subsidiary Novelis. Consolidated net profit rose 30% year-on-year to Rs 4,004 crore in Q1 FY26 from Rs 3,074 crore in Q1 FY25. Revenue from operations grew 13% to Rs 64,232 crore from Rs 57,013 crore a year earlier.
Stocks in Spotlight:
NIBE slipped 4.66% after the companys consolidated net profit dropped 75.97% to Rs 1.90 crore in Q1 FY26, compared to Rs 7.91 crore posted in Q1 FY25. Revenue from operations fell 25.04% to Rs 82.50 crore in Q1 FY26, down from Rs 110.06 crore in the same quarter last year.
NMDC Steel surged 15.90% after the company reported consolidated net profit of Rs 25.56 crore in Q1 FY26, compared with a net loss of Rs 547.25 crore in Q1 FY25. Revenue from operations jumped 66.36% YoY to Rs 3,365.22 crore in Q1 June 2025.
Cochin Shipyard rose 0.41%. The company reported a 7.8% rise in consolidated net profit to Rs 187.83 crore on a 38.5% increase in revenue from operations to Rs 1,068.59 crore in Q1 FY26 over Q1 FY25.
FSN E-Commerce Ventures jumped 5.78% after the company reported 79% rise in net profit to Rs 24 crore on a 23% increase in revenue from operations to Rs 2,155 crore in Q1 FY26 as compared with Q1 FY25.
Global Markets:
European and Asian markets advanced on Wednesday after the latest U.S. inflation data raised hopes that the Federal Reserve could cut interest rates next month.
In Japan, a report showed manufacturers grew more confident about business conditions after a trade agreement with the United States.
The monthly poll, which tracks the Bank of Japan's quarterly tankan business survey, reportedly showed the manufacturers' sentiment index rising to plus 9 in August from plus 7 in July, marking a second straight month of improvement.
Further, Japan's annual wholesale inflation slowed for the fourth straight month in July, data showed on Wednesday, underscoring the central bank's view that upward price pressure from raw material costs will dissipate. The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 2.6% in July from a year earlier, data showed, slowing from the previous month's 2.9% increase. It compared with the widely reported median market forecast for a 2.5% rise.
On Wall Street, stocks ended higher on Tuesday as inflation data was tamer than expected, soothing investor fears that tariffs are not spiking prices.
The trading session saw the S&P 500 and tech-heavy Nasdaq Composite close at fresh record highs. The S&P 500 added 1.1% to settle at 6,445.76, while the Nasdaq ended 1.4% higher at 21,681.90. The Dow Jones Industrial Average added about 483 points, or 1.1%, to close at 44,458.61.
A widely followed measure of inflation accelerated slightly less than expected in July on an annual basis. The consumer price index increased a seasonally adjusted 0.2% for the month and 2.7% on a 12-month basis, the Bureau of Labor Statistics reported Tuesday.
Excluding food and energy, the core CPI increased 0.3% for the month and 3.1% from a year ago. The monthly core rate was the biggest increase since January while the annual rate was the highest since February.
Thursdays producer price index report on wholesale inflation will add another piece of the economic picture. The report comes ahead of the Feds Jackson Hole meeting on Aug. 21-23, which could also help shape expectations for the central banks next policy move.
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