Nifty trades above 23,200 level; auto shares rebound

The benchmark equity indices traded with moderate gains in early afternoon trade supported by decline in crude oil prices following easing geopolitical tensions between Israel and Iran. Investor sentiment was further aided by improved risk appetite across global markets. However, market participants will monitor inflation trajectory, movements in crude oil and gold prices and global cues for further direction. Nifty traded above 23,200 level.

Auto shares advanced after declining in the past trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex advanced 207.16 points or 0.28% to 73,731.42. The Nifty 50 index rose 82.75 points or 0.36% to 23,205.75.

In the broader market, the BSE 150 MidCap Index rose 1.08% and the BSE 250 SmallCap Index added 0.97%.

The market breadth was positive. On the BSE, 2,641 shares rose and1,302 shares fell. A total of 206 shares were unchanged.

In the commodities market, Brent crude for August 2026 settlement fell 99 cents or 1.05% to $93.26 a barrel.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 4.96% to 16.18. The Nifty 30 June 2026 futures were trading at 23,238.70, at a premium of 32.95 points as compared with the spot at 23,205.75.

The Nifty option chain for the 30 June 2026 expiry showed a maximum call OI of 84.8 lakh contracts at the 24,000 strike price. A maximum put OI of 51.6 lakh contracts was seen at the 23,000 strike price.

Buzzing Index:

The Nifty Auto index jumped 1.43% to 26,050.30. The index declined 1.85% in the past trading session.

Tube Investments of India (up 3.53%), Bosch (up 3.2%), Bharat Forge (up 3.02%), Samvardhana Motherson International (up 2.86%), Sona BLW Precision Forgings (up 2.12%) were the top gainers. Among the other gainers were Uno Minda (up 1.7%), Eicher Motors (up 1.65%), Mahindra & Mahindra (up 1.53%), Ashok Leyland (up 1.31%) and Exide Industries (up 1.31%) advanced.

Stocks in Spotlight:

Grasim Industries advanced 1.57% after the company's board approved capex of Rs 3,094 crore for the expansion of Lyocell, third-generation Cellulosic Staple Fibre (CSF) capacity at Harihar, Karnataka. The company will expand Phase II Lyocell capacity of 110K TPA at Harihar, Karnataka. This expansion will consist of 2 lines of 55K TPA (150 Tons per day) each.

Interarch Building Solutions rose 1.50% after the company secured a domestic order worth approximately Rs 58 crore for the design, engineering, manufacturing, supply and erection of a pre-engineered steel building system.

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