Mid Session

The domestic equity indices traded with significant gains in mid-afternoon trade, rebounding after two consecutive sessions of losses. This recovery came despite persistent concerns over escalating geopolitical tensions between Israel and Iran, which continued to weigh on global market sentiment. Investors will closely monitor crude oil prices, movements in money market and the outcome of the upcoming U.S. Federal Reserve meeting later this week. The Nifty traded near the 24,950 mark.

Realty shares witnessed buying demand for second consecutive trading session.

At 12:26 IST, the barometer index, the S&P BSE Sensex gained 684.54 points or 0.84% to 81,803.14. The Nifty 50 index jumped 228.80 points or 0.93% to 24,947.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.87% and the S&P BSE Small-Cap index added 0.15%.

The market breadth was negative. On the BSE, 1,824 shares rose and 2,186 shares fell. A total of 188 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.07% to 14.77.

Economy:

Inflation measured by the Wholesale Price Index (WPI) fell to a 14-month low of 0.39% in May from 0.85% in April, data released by the government on Monday showed. This is the third consecutive month of decline in WPI inflation.

Positive rate of inflation in May 2025 is primarily due to increase in prices of manufacture of food products, electricity, other manufacturing, chemicals and chemical products, manufacture of other transport equipment and non-food articles, etc.

Buzzing Index:

The Nifty Realty index advanced 1.07% to 1,017.85. The index jumped 1.13% for the two trading sessions.

Prestige Estates Projects (up 1.6%), Sobha (up 1.38%), Godrej Properties (up 0.92%), Macrotech Developers (up 0.87%), DLF (up 0.82%), Oberoi Realty (up 0.78%), Anant Raj (up 0.39%) and Phoenix Mills (up 0.26%) jumped.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.27% to 6.283 from the previous close of 6.290.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.2000 compared with its close of 86.1125 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement shed 0.40% to Rs 99,878.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.20% to 97.8.

The United States 10-year bond yield rose 0.38% to 4.441.

In the commodities market, Brent crude for August 2025 settlement declined 22 cents or 0.30% to $74.01 a barrel.

Stocks in Spotlight:

Belrise Industries rallied 3.27% after the company reported a 722.3% jump in net profit to Rs 110.02 crore while revenue rose 49% to Rs 2,274.35 crore in Q4 March 2025 over Q4 March 2024.

United Drilling Tools hit the upper circuit of 20% after the firm said that it has secured a significant order from Oil and Natural Gas Corporation for the supply of large outer diameter (OD) casing pipes with connector totaling to Rs 107.55 crore

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