Indices edge higher in early trade; breadth positive

The key domestic indices traded with minor gains in early trade, despite ongoing rising geopolitical tensions between Israel and Iran. Market sentiment is expected to remain sensitive to global geopolitical developments, with investors closely monitoring crude oil prices and broader international cues. The Nifty traded above the 24,800 level.

PSU Bank, realty and metal shares advanced while media, consumer durables and oil & gas stocks declined.

At 09:26 IST, the barometer index, the S&P BSE Sensex advanced 228.31 points or 0.28% to 81,590.18. The Nifty 50 index rose 50.40 points or 0.18% to 24,838.45.

In the broader market, the S&P BSE Mid-Cap index rose 0.04% and the S&P BSE Small-Cap index fell 0.19%.

The market breadth was positive. On the BSE, 1,402 shares rose and 1,293 shares fell. A total of 163 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth 934.62 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 605.97 crore in the Indian equity market on 19 June 2025, provisional data showed.

Stocks in Spotlight:

Mastek rose 0.13%. the company announced the launch of ADOPT.AI, a comprehensive suite of AI solutions and services aimed at accelerating AI innovation and driving enterprise-wide AI adoption.

Kaynes Technology India added 1.09% after the company's board approved raising funds via QIP with floor price of Rs 5,625.75 per share, marking a 1.67% discount to the last closing price.

Kamat Hotels (India) advanced 0.91%. The company has entered into shareholders arrangement agreement to acquire control in Ilex Developers & Resorts.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.10% to 6.306 from the previous close of 6.312.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.5875 compared with its close of 86.7350 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement fell 0.50% to Rs 98,845.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.24% to 98.55.

The United States 10-year bond yield declined 0.14% to 4.390.

Global Markets:

US Dow Jones futures were down 156 points, signaling a weak start for Wall Street. Wall Street was closed on Thursday for the Juneteenth holiday.

Most Asian stocks traded higher on Friday as investors assessed China data and monitored escalating tensions between Israel and Iran.

U.S. President Donald Trump is now weighing on whether to back the Israeli military and strike Tehran. The White House said that he will make a final decision within the next two weeks.

Japan's core consumer price index (CPI), which excludes volatile fresh food costs, rose 3.7% in May from a year earlier, data showed on Friday, accelerating from a 3.5% increase in April.

China kept its benchmark lending rates unchanged Friday. The People's Bank of China held the 1-year loan prime rate at 3.0% and 5-year LPR at 3.5%, according to a statement Friday.

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