Indices march ahead as bulls refuel on ceasefire hopes; Nifty ends near 25,550

The domestic equity benchmarks extended their winning streak for a third straight session, closing with solid gains on the back of firm global cues and hopes of de-escalation in the Israel-Iran conflict. The monthly F&O expiry added to the action, with benchmarks logging a strong upmove of over 1%. After a steady start, the indices traded sideways in the first half but saw momentum build up in the latter part of the day, fueled by buying in heavyweight stocks. The Nifty ended near the 25,550 level, while sectoral participation remained broad-based, with metals, financials, and energy stocks leading the charge. The broader market also remained upbeat.

The S&P BSE Sensex zoomed 1,000.36 points or 1.21% to 83,755.87. The Nifty 50 index surged 304.25 points or 1.21% to 25,549. In the three consecutive sessions, the Sensex advanced 2.27% while the Nifty rose 2.31%.

Bajaj Finance (up 2.50%), HDFC Bank (up 2.16%) and Reliance Industries (up 1.90%) boosted the indices.

In the broader market, the S&P BSE Mid-Cap index rose 0.56% and the S&P BSE Small-Cap index added 0.12%.

The market breadth was strong. On the BSE, 2097 shares rose and 1900 shares fell. A total of 156 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 2.87% to 12.59.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.16% to 6.273 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 85.7200 compared with its close of 86.0850 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement shed 0.03% to Rs 97,330.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.56% to 97.15.

The United States 10-year bond yield fell 0.33% to 4.276.

In the commodities market, Brent crude for August 2025 settlement added 14 cents or 0.21% to $67.82 a barrel.

Global Markets:

US Dow Jones futures jumped 120 points, pointing to a strong open for Wall Street.

European stocks edged higher, while Asian shares ended mixed on Thursday, as investors weighed the Israel-Iran ceasefire, an upcoming U.S. tariff deadline, and fresh remarks from Fed Chair Jerome Powell.

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.

Stocks in Spotlight:

The Nifty Metal index added 2.31% to 9,544.45. The index has risen 3.62% in the five trading sessions. Hindustan Copper (up 4.85%), Steel Authority of India (up 3.94%), Jindal Steel & Power (up 3.54%), Vedanta (up 2.95%), National Aluminium Company (up 2.85%), Jindal Stainless (up 2.76%), Tata Steel (up 2.56%), Hindalco Industries (up 2.48%), Adani Enterprises (up 2.09%) and NMDC (up 2.09%) added.

Nestle India rose 1.05% after the company's board approved a bonus share issue in the ratio of 1:1.

Vipul Organics hit an upper limit of 5% after the company announced its strategic entry into membrane manufacturing, a move that signals its ambition to tap into the multi-billion-dollar global filtration and water treatment market.

OM Infra soared 3.07% 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.

Ask Automotive added 3.30% 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.

KNR Constructions fell 1.91%. 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.

Aurionpro Solutions surged 4.81% after the company announced that it has won a contract for implementing its automated fare collection (AFC) system for the public transport system in Egypt.

Brahmaputra Infrastructure advanced 3.34% after the company announced that it has secured a work order worth Rs 16.94 crore from the National Highways Authority of India (NHAI).

Cummins India rose 1.44% after the company announced the launch of its Battery Energy Storage Systems (BESS). Designed primarily for the domestic market, these advanced battery storage solutions will cater to key sectors including manufacturing, data centers, commercial real estate, and mining -- industries that are increasingly relying on stable, renewable energy sources.

IPO Update:

The initial public offer (IPO) of HDB Financial Services received bids for 14,62,87,440 shares as against 13,04,42,855 shares on offer, according to stock exchange data at 16:36 IST on Thursday (25 June 2025). The issue was subscribed 1.12 times.

The issue opened for bidding on Wednesday (25 June 2025) and it will close on Friday (27 June 2025). The price band of the IPO is fixed between Rs 700 and 740 per share. An investor can bid for a minimum of 20 equity shares and in multiples thereof.

Globe Civil Projects' IPO received bids for 1,00,28,72,028 shares as against 1,17,32,392 shares on offer, according to stock exchange data at 16:36 IST on Thursday (25 June 2025). The issue was subscribed 85.48 times.

The issue opened for bidding on Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 67 and 71 per share. An investor can bid for a minimum of 10 equity shares and in multiples thereof.

Ellenbarrie Industrial Gases' IPO received bids for 33,46,01,138 shares as against 1,51,08,983 shares on offer, according to stock exchange data at 16:36 IST on Thursday (25 June 2025). The issue was subscribed 22.15 times.

The issue opened for bidding Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 380 and 400 per share. An investor can bid for a minimum of 37 equity shares and in multiples thereof.

Kalpataru' IPO received bids for 5,15,25,612 shares as against 2,28,26,516 shares on offer, according to stock exchange data at 16:36 IST on Thursday (25 2025). The issue was subscribed 2.26 times.

The issue opened for bidding on Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 387 and 414 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.

Sambhv Steel Tubes' IPO received bids for 8,42,48,892 shares as against 4,92,06,100 shares on offer, according to stock exchange data at 16:36 IST on Thursday (25 June 2025). The issue was subscribed 1.71 times.

The issue opened for bidding Wednesday (25 June 2025) and it will close on Friday (227 June 2025). The price band of the IPO is fixed between Rs 77 and 82 per share. An investor can bid for a minimum of 182 equity shares and in multiples thereof.

Indogulf Cropsciences' IPO received bids for 51,84,270 shares as against 1,33,65,710 shares on offer, according to stock exchange data at 16:36 IST on Thursday (26 June 2025). The issue was subscribed 0.39 times.

The issue opened for bidding on Thursday (24 June 2025) and it will close on Monday (30 June 2025). The price band of the IPO is fixed between Rs 105 and 111 per share. An investor can bid for a minimum of 135 equity shares and in multiples thereof.

Powered by Capital Market - Live News