Nifty trades above 25,200; PSU bank shares rally for 3rd day

The headline equity benchmarks traded with small gains in mid-afternoon trade, witnessing mild buying interest despite Donald Trump announced a 19% tariff on products that Indonesia sells to the United States. Further, Trump said that US will have access to India, on similar lines as Indonesia-US trade deal. Investors are assessing the tariff development, and ongoing corporate earnings. Nifty traded above the 25,200 level.

PSU bank shares extended gains for the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex advanced 135.56 points or 0.16% to 82,706.47. The Nifty 50 index added 33.95 points or 0.14% to 25,230.45.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.20% and the S&P BSE Small-Cap index added 0.36%.

The market breadth was negative. On the BSE, 2,279 shares rose and 1,697 shares fell. A total of 187 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index jumped 1.98% to 7,279.90. The index rallied 3.61% in three consecutive trading sessions.

Indian Overseas Bank (up 2.66%), Punjab & Sind Bank (up 2.64%), Punjab National Bank (up 2.44%), UCO Bank (up 2.41%), Bank of Baroda (up 2.08%), State Bank of India (up 2.01%), Indian Bank (up 1.89%), Bank of India (up 1.88%), Canara Bank (up 1.68%) and Union Bank of India (up 1.39%) advanced.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.03% to 6.315 from the previous close of 6.312.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.9250 compared with its close of 85.7625 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement rose 0.29% to Rs 97,495.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.10% to 98.20.

The United States 10-year bond yield fell 0.16% to 4.484.

In the commodities market, Brent crude for September 2025 settlement declined 18 cents or 0.26% to $68.53 a barrel.

Stocks in Spotlight:

Rajoo Engineers dropped 4.81%. The company said that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with a floor price of Rs 114.42 per equity share.

Network 18 Media & Investments surged 15.32% after the company reported a standalone net profit of Rs 516.17 crore in Q1 FY26 as against a net loss of Rs 74.65 crore posted in Q1 FY25. However, revenue from operations tanked 4.9% year-on-year (YoY) to Rs 430.40 crore in the quarter ended 30 June 2025.

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