Indices trade higher; IT shares rally

The domestic equity indices traded with modest gains in the early afternoon trade, tracking a global rally as tensions in West Asia eased after a fragile Israel-Iran ceasefire. The Nifty traded above 25,200 level.

IT shares witnessed buying demand for the third consecutive trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex jumped 557.64 points or 0.68% to 82,639.40. The Nifty 50 index rallied 162.80 points or 0.65% to 25,206.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.33% and the S&P BSE Small-Cap index added 1.30%.

The market breadth was strong. On the BSE, 2,869 shares rose and 946 shares fell. A total of 175 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.54% to 13.69. The Nifty 26 Jun 2025 futures were trading at 25,313.80, at a premium of 32.35 points as compared with the spot at 25,281.45.

The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 149.5 lakh contracts at the 26,000 strike price. Maximum put OI of 133 lakh contracts was seen at the 25,000 strike price.

Buzzing Index:

The Nifty IT index jumped 1.22% to 38,888.30. The index rallied 3.75% in three consecutive trading sessions.

Mphasis Ltd (up 2.09%), LTIMindtree Ltd (up 1.63%), Tech Mahindra Ltd (up 1.58%), Infosys Ltd (up 1.45%) and HCL Technologies Ltd (up 1.05%) were the top gainers. Among the other gainers were Coforge Ltd (up 1.05%), Wipro Ltd (up 0.89%), Tata Consultancy Services Ltd (up 0.5%), Oracle Financial Services Software Ltd (up 0.33%) and Persistent Systems Ltd (up 0.18%).

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