Sensex jumps 310 pts in early trade; Nifty above 25,350

The domestic equity indices traded with decent gains in early trade, tracking firm cues from Asian markets amid sustained optimism over a potential ceasefire between Israel and Iran.

The Nifty traded above the 25,350 mark. Metal, oil & gas and auto shares advanced while realty, media and IT shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, soared 310.49 points or 0.37% to 83,070.75. The Nifty 50 index advanced 114.20 points or 0.47% to 25,362.85.

In the broader market, the S&P BSE Mid-Cap index rose 0.11% and the S&P BSE Small-Cap index added 0.42%.

The market breadth was strong. On the BSE, 1,887 shares rose and 780 shares fell. A total of 120 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth 2,427.74 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,372.96 crore in the Indian equity market on 25 June 2025, provisional data showed.

Stocks in Spotlight:

Wheels India added 3.41% after the company's board approved to acquire 7,64,533 equity shares or 12.51% stake in Axles India from Forge 2000 for a total consideration of Rs 22.68 crore.

Balaji Amines rose 2.41% after the company has received consent to operate the manufacture of ISOPROPYLAMINE (MIPA/ DIPA). Trial runs will be started and commencement of commercial production will take effect shortly.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.02% to 6.284 from the previous close of 6.283.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.8600 compared with its close of 86.0850 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement rose 0.11% to Rs 97,460.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.29% to 97.42.

The United States 10-year bond yield fell 0.37% to 4.274.

In the commodities market, Brent crude for July 2025 settlement rose 17 cents or 0.25% to $67.85 a barrel.

Global Markets:

Asian shares traded lower on Thursday, with investors still digesting the fragile ceasefire declared between Israel and Iran.

Late Monday, President Trump announced a multi-stage truce between the two nations, urging both sides to hold the line. By Wednesday, the ceasefire seemed to be sticking, just a day after both countries said they had wrapped up a 12-day aerial showdown.

U.S. Secretary of State Marco Rubio claimed Iran is now much further from building a nuclear weapon post-strikes, downplaying intelligence that says the air raids merely bought a few extra months.

Trump, meanwhile, credited the swift U.S. military response for ending the skirmish and said he plans to push Iran to abandon its nuclear ambitions during talks next week.

Back in the U.S., shares ended Wednesday on a subdued note. The S&P 500 hovered near the flatline, closing at 6,092.16 as investors looked for clues on whether it could challenge its all-time high. The Nasdaq inched up 0.31%, while the Dow slipped 0.25%.

Federal Reserve Chair Jerome Powell wrapped up his Capitol Hill testimony, continuing to strike a cautious tone on inflation and trade. While he left the door open for future rate cuts if recent pressures prove short-lived, he avoided committing to any timeline, despite mounting pressure from President Trump.

NVIDIA hit a fresh all-time high after Loop Capital boosted its price target to $250 from $175, pointing to strong and sustained demand for AI chips as artificial intelligence adoption surges.

FedEx shares dropped over 3% after the company issued a weaker-than-expected profit forecast for the current quarter.

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