Nifty trades marginally above 24,050 mark; Metal shares shine

The domestic equity indices traded with minor gains in morning trade on Tuesday, supported by crude oil prices slipping below the $100-per-barrel mark and encouraging developments in U.S.'Iran talks. Investors remained focused on Q4 earnings, movements in crude oil and gold prices, and the Nifty's trajectory ahead of the monthly derivatives expiry on the NSE. The Nifty traded above the 24,050 mark.

Metal shares extended gains for the fifth straight session.

At 10:25 AM IST, the barometer index, the S&P BSE Sensex advanced 84.65 points or 0.11% to 76,568.01. The Nifty 50 index added 22.45 points or 0.09% to 24,054.15.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.80% and the BSE 250 SmallCap Index jumped 1.22%.

The market breadth was strong. On the BSE, 2,446 shares rose and 1,211 shares fell. A total of 220 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.97% to 16.21.

In the commodities market, Brent crude for July 2026 settlement tanked $5.17 or 4.99% to $98.37 a barrel.

Earnings Today:

ONGC, Siemens, Brainbees Solutions, Venus Pipes, Transrail Lighting, Marksans Pharma, Morepen Laboratories, Jubiliant Ingrevia, RedTape, Aequs, Gujarat Fluorochemicals, Gujarat Gas AIA Engineering, AstraZeneca Pharma, Bayer, Camlin Fine Sciences, Gandhar Oil, IRCTC, JK Tyre, Landmark Cars, Senco Gold, Steep Strips Wheel will declare their quarterly results later today.

Buzzing Index:

The Nifty Metal index jumped 0.95% to 13,472.85. The index jumped 2.31% in five trading sessions.

Vedanta (up 3.82%), Hindustan Copper (up 2.58%), Lloyds Metals & Energy (up 2.45%), Welspun Corp (up 2.42%) and Steel Authority of India (up 1.96%), National Aluminium Company (up 1.59%), Adani Enterprises (up 1.18%), Hindalco Industries (up 1.17%), Hindustan Zinc (up 0.94%) and JSW Steel (up 0.5%) surged.

Stocks in Spotlight:

Orchid Pharma rose 2.33% after the company reported a 6.68% increase in consolidated net profit to Rs 23.78 crore for the fourth quarter ended March 2026, compared with Rs 22.29 crore in the corresponding quarter last year.

Venus Pipes & Tubes rallied 3.13% after the company announced the commencement of commercial operations of its fittings facility along with the commissioning of additional seamless pipes / tubes capacity.

Royal Orchid Hotels slipped 4.91% after the company reported a 39.57% decline in consolidated net profit to Rs 7.94 crore for the fourth quarter ended March 2026, compared with Rs 13.14 crore in the corresponding quarter last year.

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