Indices edge higher in early trade; breadth strong

The key equity benchmarks traded with minor gains in early trade. The Nifty traded above the 25,100 level. Media, auto and metal shares advanced, while PSU bank, private bank and consumer durables stocks declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, added 62.92 points or 0.08% to 82,454.64. The Nifty 50 index rose 29.25 points or 0.12% to 25,132.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.34% and the S&P BSE Small-Cap index added 0.39%.

The market breadth was strong. On the BSE, 2,064 shares rose and 794 shares fell. A total of 140 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth 2,301.87 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,113.34 crore in the Indian equity market on 10 June 2025, provisional data showed.

Stocks in Spotlight:

Popular Vehicles and Services rose 2.35% after the company received a Letter of Intent (LoI) from Maruti Suzuki India to establish a new independent True Value outlet for pre-owned vehicles in Bangalore, Karnataka.

Kaynes Technology India rose 0.78%. The company's wholly owned subsidiary, Kaynes Semicon, has entered into an asset purchase agreement with Fujitsu General Electronics (Fujitsu Electronics) to acquire production lines for power modules.

Anant Raj shed 0.47%. The company's board approved the reappointment of Aman Sarin as managing director, chief executive officer (CEO), and chief operating officer (COO) for five years with effect from 1st January 2026.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.02% to 6.286 from the previous close of 6.287.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4925 compared with its close of 85.5700 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement rose 0.28% to Rs 97,170.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 99.12.

The United States 10-year bond yield shed 0.16% to 4.466.

Global Markets:

US Dow Jones futures were down 114 points, signaling a negative start for Wall Street.

Asian markets edged higher on Wednesday 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 May's inflation.

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