Benchmarks trade with strong gains; PSU bank shares jump

The key equity indices continued to trade with significant gains in the morning trade, tracking a sharp rally in Asian markets after US President Donald Trump announced a ceasefire agreement between Iran and Israel. The easing of geopolitical tensions led to a pullback in global crude oil prices, providing further support to domestic equities.

PSU Bank shares advanced after declining for the past trading session. The Nifty traded above the 25,200 level.

At 10:29 ST, the barometer index, the S&P BSE Sensex, jumped 886.82 points or 1.08% to 82,784.95. The Nifty 50 index advanced 260.30 points or 1.05% to 25,233.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.81% and the S&P BSE Small-Cap index added 0.90%.

The market breadth was strong. On the BSE, 2,782 shares rose and 779 shares fell. A total of 176 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index added 2.01% to 6,977.20. The index shed 0.08% in previous trading session.

Canara Bank (up 2.91%), UCO Bank (up 2.7%), Punjab & Sind Bank (up 2.64%), Union Bank of India (up 2.63%), Bank of Maharashtra (up 2.36%), Bank of Baroda (up 2.35%), Indian Overseas Bank (up 2.25%), Central Bank of India (up 2.02%), Punjab National Bank (up 2.01%) and Indian Bank (up 1.99%) added.

Stocks in Spotlight:

Satin Creditcare Network advanced 1.21% after the company announced that its board will meet on Friday, 27 June 2025, to consider a fundraising proposal through the issuance of debt securities.

Lemon Tree Hotels rose 1% after the company announced that it has signed a franchise agreement for an upcoming hotel in Kharar, Punjab, under its brand Keys Lite by Lemon Tree Hotels.

Enviro Infra Engineers zoomed 11.46% after the company announced that it has bagged two key solar power projects aggregating to 69 MW (AC) capacity, marking its strategic foray into the renewables sector.

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