Sensex, Nfity surge over 1%; PSU Bank shares climb

The key domestic benchmarks traded with strong gains in early afternoon trade, supported by value buying and optimism surrounding easing geopolitical tensions and ongoing US-China trade talks. Investors also remained focused on the ongoing Q4 earnings season. The Nifty traded near the 23,700 level.

PSU Banks hares rebounded on value buying after falling over the past five trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex surged 820.32 points or 1.12% to 75,451.24. The Nifty 50 index added 286.70 points or 1.23% to 23,693.60.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index shed 0.04% and the BSE 250 SmallCap Index fell 0.61%.

The market breadth was strong. On the BSE, 1,931 shares rose and 2,019 shares fell. A total of 208 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.72% to 18.90. The Nifty 26 May 2026 futures were trading at 23,725, at a premium of 31.4 points as compared with the spot at 23,693.60,

The Nifty option chain for the 26 May 2026 expiry showed a maximum call OI of 53.6 lakh contracts at the 24,000 strike price. A maximum put OI of 45.4 lakh contracts was seen at the 23,000 strike price.

Economy:

India's WPI inflation rose sharply to 8.3% in April compared with 3.88% in March 2026, mainly due to soaring fuel and crude oil prices, government data showed. Fuel and power inflation spiked to 24.71% during the month against 1.05% in March.

Crude petroleum and natural gas prices rose 16.42% month-on-month, while food articles prices increased 1.41%. Minerals prices also moved higher.

Buzzing Index:

The Nifty PSU Bank index advanced 1.58% to 6,191.95. The index had declined 7.09% in the last five sessions.

Bank of Baroda (up 1.89%), Bank of India (up 1.49%), Indian Bank (up 1.36%), Union Bank of India (up 1.13%), Punjab National Bank (up 0.9%), Punjab & Sind Bank (up 0.71%), State Bank of India (up 0.69%), Indian Overseas Bank (up 0.48%), UCO Bank (up 0.43%) and Canara Bank (up 0.38%) surged.

Stocks in Spotlight:

ADF Foods added 3.70% after the company reported 57.6% jump in consolidated net profit to Rs 25.9 crore on a 23.7% rise in revenue from operations to Rs 196.7 crore in Q4 FY26 as compared with Q4 FY25.

Bajel Projects surged 10.17% after the company secured a major EPC order for a 400 kV transmission line project from Power Grid Corporation of India through its SPV, Bellary Davanagere Power Transmission.

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