Sensex, Nifty advance strongly; IT shares shine

The headine equity benchmarks traded with substantial gains in the mid-afternoon trade supported by a decline in crude oil prices. Investor sentiment improved, boosting risk appetite across the market. Market participants are also closely monitoring developments related to the ceasefire situation. The Nifty rebounded sharply from its intraday low of 23,229.15 and traded above the 23,500 mark. IT shares extended gains for the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex jumped 510.32 points or 0.69% to 74,783.55. The Nifty 50 index rallied 146.60 points or 0.63% to 23,530.45.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index rose 0.36% and the BSE 250 SmallCap Index added 0.43%.

The market breadth was positive. On the BSE, 2,245 shares rose and 1,879 shares fell. A total of 179 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 5.87% to 15.57.

Buzzing Index:

The Nifty IT index climbed 4.26% to 31,126.50. The index soared 7.67% in three consecutive trading sessions.

Tata Consultancy Services (up 6.20%), Infosys (up 5.35%), Coforge (up 3.87%), HCL Technologies (up 3.72%), LTM (up 3.29%), Mphasis (up 2.83%), Tech Mahindra (up 2.39%), Oracle Financial Services Software (up 1.90%), Wipro (up 1.40%) and Persistent Systems (up 0.99%) jumped.

Numbers to Track:

The yield on India's 10-year benchmark federal paper slipped 0.31% to 7.000 compared with previous session close of 7.022.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.2400 compared with its close of 94.1900 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement gained 1% to Rs 155,800.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 99.10.

The United States 10-year bond yield fell 0.94% to 4.432.

In the commodities market, Brent crude for July 2026 settlement lost $1.75 or 1.84% to $93.23 a barrel.

Stocks in Spotlight:

Magellanic Cloud added 0.78%. The company's wholly owned subsidiary, Provigil Surveillance, has received a letter of acceptance (LoA) from East Coast Railway's Sambalpur Division for a surveillance infrastructure project worth Rs 9.72 crore.

Coforge jumped 4.34% after the IT services company announced the launch of its Nexa Agentic AI Platform, a new artificial intelligence-powered business platform aimed at the global insurance industry.

Paras Defence and Space Technologies added 3.15% after it has received an order from Bharat Electronics (BEL) for the supply of electro-optics systems valued at approximately Rs 52.82 crore.

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