Barometers trade with significant gains; PSU Bank shares advance

The domestic equity benchmarks traded with major gains in the mid-afternoon trade, supported by improved sentiment after comments by U.S. President Donald Trump on the Iran conflict, a decline in crude oil prices, and other positive global cues following the recent sell-off. The Nifty traded above the 24,200 level. PSU Bank stocks advanced after declining in the past two trading sessions.

At 14:25 ST, the barometer index, the S&P BSE Sensex surged 594.12 points or 0.77% to 78,160.31. The Nifty 50 index soared 201.65 points or 0.83% to 24,228.25.

The broader market outperformed the key equity indices. The BSE 150 MidCap Index jumped 1.43% and the BSE 250 SmallCap Index surged 1.78%.

The market breadth was strong. On the BSE, 3,003 shares rose and 1,151 shares fell. A total of 164 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was down 17.36% to 19.31.

Buzzing Index:

The Nifty PSU Bank index jumped 2.13% to 9,007.05. The index dropped 5.90% in the past two consecutive trading sessions.

Bank of Maharashtra (up 4.75%), Union Bank of India (up 4.3%), Indian Bank (up 3.77%), Bank of India (up 3.42%), Central Bank of India (up 2.74%), Bank of Baroda (up 2.53%), UCO Bank (up 2.37%), Punjab National Bank (up 2.29%), Indian Overseas Bank (up 2.21%) and Punjab & Sind Bank (up 2.09%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.74% to 6.673 compared with previous session close of 6.723.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 91.8625 compared with its close of 92.2100 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement jumped 1.22% to Rs 1,62,254.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.61% to 98.562

The United States 10-year bond yield declined 0.89% to 4.098.

In the commodities market, Brent crude for May 2026 settlement dropped $7.46 or 7.54% to $91.50 a barrel.

Stocks in Spotlight:

BMW Ventures jumped 5.97% after securing a domestic order worth Rs 15.91 crore for the supply, fabrication, delivery, and erection of fabricated steel structures.

Arvind SmartSpaces surged 9.80% after Pirojsha Adi Godrej, executive chairman of Godrej Properties, acquired shares in the company through a bulk deal on the BSE.

Borosil soared 8.91% after the company's board approved setting up a new maunfacuring facility in Gujarat and expanding the production capacity of its Borosilicate Glass Furnace in Rajasthan.

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