Indices edge higher in early trade; breadth positive

The key equity benchmarks traded with minor gains in early trade. The Nifty traded above the 25,150 mark. Pharma, media, and consumer durables shares advanced, while IT, realty and auto stocks declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, added 131.17 points or 0.16% to 82,646.31. The Nifty 50 index rose 49.50 points or 0.19% to 25,188.50.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.15% and the S&P BSE Small-Cap index fell 0.09%.

The market breadth was positive. On the BSE, 1,495 shares rose and 1,423 shares fell. A total of 140 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth 446.31 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,584.87 crore in the Indian equity market on 11 June 2025, provisional data showed.

Stocks in Spotlight:

Zydus Lifesciences rose 0.02%. The company has received the establishment inspection report (EIR) from the USFDA for the inspection conducted at its API manufacturing facility located at Ankleshwar. The inspection has been classified as No Action Indicated (NAI).

Waaree Energies rose 0.11%. The company has signed and executed the power purchase agreement (PPA) with Rewa Ultra Mega Solar (RUMSL) and M.P. Power Management Company (MPPMCL) for the supply of 150 MW of solar power to MPPMCL.

Kaynes Technology India rose 0.56%. The company's board approved the further investment for an amount up to $1.03 million towards the acquisition of up to 1,019,802 equity shares of Kaynes Holding, a wholly owned subsidiary, at an issue price of $1.01 per share.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.03% to 6.292 from the previous close of 6.280.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4575 compared with its close of 85.5350 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement rose 1.27% to Rs 97,932.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.29% to 98.35.

The United States 10-year bond yield shed 0.16% to 4.404.

In the commodities market, Brent crude for August 2025 settlement shed 38 cents or 0.54% to $69.39 a barrel.

Global Markets:

US Dow Jones futures were down 132 points, signaling a weak start for Wall Street.

Asian indices were mixed as investors reacted to U.S. President Donald Trump's statement that a trade agreement with China was 'done,' pending final approval from both himself and Chinese President Xi Jinping. Trump indicated that the deal would include a 55% tariff on Chinese imports, a figure later confirmed by Commerce Secretary Howard Lutnick, who stated that tariffs would remain at that level.

In the U.S., major indices closed lower overnight. The S&P 500 fell 0.3%, while the NASDAQ Composite fell 0.5%. The Dow Jones Industrial Average closed flat at 42,865.77 points.

According to Trump's social media post, the agreement framework includes Chinese supply commitments for magnets and rare earth elements, while the U.S. would continue to permit Chinese students to attend American universities. Trump emphasized that the U.S. would maintain a 55% tariff, while China would impose a 10% tariff in return.

Separately, U.S. inflation data showed the Consumer Price Index (CPI) rose 2.4% year-over-year in May, slightly above April's 2.3%. On a monthly basis, CPI growth eased to 0.1%. Market participants are now focused on upcoming Producer Price Index (PPI) figures and weekly jobless claims for additional signals on the health of the U.S. economy.

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