Indices trade with minor gains; PSU bank shares advance

The key equity benchmarks traded with minor gains in mid-morning trade, tracking mixed global cues as investors assessed the fragile ceasefire between Israel and Iran, with both sides halting strikes while leaving open the possibility of renewed attacks. Nifty traded above the 23,100 level. PSU bank shares advanced after declining in the past trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 3.51 points or 0.01% to 73,526.90. The Nifty 50 index rose 11.75 points or 0.05% to 23,134.75.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index gained 0.74% and the BSE 250 SmallCap Index added 0.70%.

The market breadth was strong. On the BSE, 2,483 shares rose and 1,328 shares fell. A total of 201 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.53% to 16.26.

IPO Update:

The initial public offer (IPO) of Hexagon Nutrition received bids for 26,42,63,139 shares as against 2,16,02,008 shares on offer, according to stock exchange data at 11:25 IST on Tuesday (09 June 2026). The issue was subscribed 12.23 times.

The issue opened for bidding on 05 June 2026 and it will close on 09 June 2026. The price band of the IPO is fixed between Rs 42 to Rs 45 per share.

Buzzing Index:

The Nifty PSU Bank index rose 2% to 8,363.45. The index shed 0.72% in the past trading session.

Bank of Maharashtra (up 3.69%), Punjab & Sind Bank (up 2.89%), Bank of India (up 2.8%), Bank of Baroda (up 2.68%), UCO Bank (up 2.48%), Punjab National Bank (up 2.31%), Canara Bank (up 2.08%), Indian Bank (up 1.95%), Union Bank of India (up 1.65%) and Indian Overseas Bank (up 1.62%) rose.

Stocks in Spotlight:

Marsons zoomed 7.85% after it had secured an order worth Rs 9.48 crore from West Bengal State Electricity Transmission Company (WBSETCL) for the repair, inspection and testing of power transformers.

Aye Finance climbed 4.87% after the company's board approved raising up to $15 million through issuance of non-convertible debentures (NCDs) on a private placement basis.

Global Markets:

Asian markets traded mixed on Tuesday as investors weighed on the fragile ceasefire between Iran and Israel.

China's exports jumped 19.4% YoY to a record $376.78 billion in May 2026, surpassing expectations and marking the fastest growth since February, driven by inventory build-up ahead of energy price pressures and strong demand for semiconductors and AI hardware. For January'May 2026, exports rose 15.5% YoY to $1.71 trillion.

Iran on Monday halted military strikes against Israel but warned it would resume attacks if Israeli forces continue operations in Lebanon, Tehran's foreign ministry has reportedly said on Monday. Hours later, Israeli Prime Minister Benjamin Netanyahu reportedly said that the conflict with Iran and Hezbollah was not yet over.'

Overnight on Wall Street, the S&P 500 and Nasdaq Composite were higher on Monday as chip stocks rebounded from Friday's rout and President Donald Trump tried to maintain a fragile cease-fire despite Iran and Israel trading strikes.

The broad market index advanced 0.30% and closed at 7,405.73. The tech-heavy Nasdaq was up 0.86%, ending at 25,929.66. The Dow Jones Industrial Average lost 80.77 points, or 0.16%, and settled at 50,786.01.

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