Nifty recovers to 25,500 level ahead of monthly expiry; private bank shares rally

The domestic equity benchmarks traded with major gains in the mid- afternoon trade, supported by gains in Asian markets and continued optimism around a possible Israel-Iran ceasefire. The Nifty hovered above the 25,500 level. Private bank stocks rebounded after slipping in the last session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, soared 902.45 points or 1.08% to 83,638.73. The Nifty 50 index rallied 265.05 points or 1.05% to 25,510.85.

In the broader market, the S&P BSE Mid-Cap index rose 0.33% and the S&P BSE Small-Cap index added 0.03%.

The market breadth was negative. On the BSE, 1,931 shares rose and 1,993 shares fell. A total of 166 shares were unchanged.

Buzzing Index:

The Nifty Private Bank index rose 1.10% to 28,437.15. The index fell 0.03% in the previous trading session.

Axis Bank (up 1.86%), HDFC Bank (up 1.68%), Bandhan Bank (up 1.56%), ICICI Bank (up 1.29%) and IndusInd Bank (up 0.42%), Kotak Mahindra Bank (up 0.15%), RBL Bank (up 0.04%) added.

On the other hand, Yes Bank (down 0.69%), Federal Bank (down 0.57%) and IDFC First Bank (down 0.43%) edged lower.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.27% to 6.266 from the previous close of 6.283.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.6600 compared with its close of 86.0850 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement rose 0.15% to Rs 97,503.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.64% to 97.07.

The United States 10-year bond yield fell 0.23% to 4.280.

In the commodities market, Brent crude for August 2025 settlement added 10 cents or 0.15% to $67.78 a barrel.

Stocks in spotlight:

Lupin rose 0.87%. The company has announced the launch of Prucalopride Tablets in the United States, following the recent approval of its abbreviated new drug application (ANDA) by the U.S. Food and Drug Administration (USFDA).

OM Infra soared 6.53% after the company secured a turnkey contract from NHPC for hydro-mechanical works at India's largest power generation project, the 2880 MW Dibang Project in Arunachal Pradesh.

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