Barometers trade with decent gains; Financial services shares rally for 3rd day

The domestic equity indices traded with modest gains in the early afternoon trade, supported by optimism over the Iran-Israel ceasefire. Positive global cues from Asian markets and institutional activity influenced market sentiment.

The Nifty traded above the 25,400 level. Financial services shares witnessed buying demand for the third consecutive trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex, jumped 536.96 points or 0.65% to 83,295.47. The Nifty 50 index added 163.10 points or 0.65% to 25,408.30.

In the broader market, the S&P BSE Mid-Cap index rose 0.07% and the S&P BSE Small-Cap index shed 0.06%.

The market breadth was negative. On the BSE, 1,884 shares rose and 1,948 shares fell. A total of 163 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.17% to 13.12. The Nifty 31 July 2025 futures were trading at 25,506.90, at a premium of 98.60 points as compared with the spot at 25,408.30.

The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 38.8 lakh contracts at the 26,000 strike price. Maximum put OI of 57.9 lakh contracts was seen at the 25,000 strike price.

Buzzing Index:

The Nifty Financial Services index jumped 1.01% to 27,121.25. The index advanced 2.12% in three consecutive trading sessions.

Jio Financial Services (up 2.31%), Bajaj Finance (up 1.78%), ICICI Prudential Life Insurance Company (up 1.42%), HDFC Bank (up 1.23%), Axis Bank (up 1.20%), ICICI Bank (up 1.07%), Shriram Finance (up 1%), HDFC Life Insurance Company (up 0.99%), Bajaj Finserv (up 0.96%) and Power Finance Corporation (up 0.65%).

On the other hand, HDFC Asset Management Company (down 1.09%), State Bank of India (down 0.73%) and Muthoot Finance (down 0.61%) edged lower.

Stocks in Spotlight:

KNR Constructions rose 0.41%. The company announced that its joint venture KNRCL-HCPL has received a letter of acceptance worth Rs 4,800.57 crore for a major coal mining project in Jharkhand.

Ask Automotive rallied 3.51% after its board approved entering into a joint venture with T.D. Holding GMBH (TDH) to manufacture, market, and sell sunroof control cables and helix cables for passenger vehicles through a joint venture company.

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