The domestic equity benchmarks traded with major gains in the afternoon trade. The Nifty traded above the 24,400 level. Media, IT and PSU Bank shares declined while realty, auto and metal shares advanced.

At 13:28 IST, the barometer index, the S&P BSE Sensex jumped 561.62 points or 0.72% to 78,320.43. The Nifty 50 index surged 170.85 points or 0.71% to 24,442.30.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index rose 0.36% and the BSE 250 SmallCap Index gained 0.20%.

The market breadth was negative. On the BSE, 1,956 shares rose and 2,236 shares fell. A total of 222 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.10% to 11.93.

Gainers & Losers:

HDFC Bank (up 3.70%), Hindalco Industries (up 2.45%), Mahindra and Mahindra (up 2.10%), Oil Natural Gas and Corporation (up 1.99%) and Bajaj Auto (up 1.95%) were the major Nifty50 gainers.

Kotak Mahindra Bank (down 3.45%), Tata Consultancy Services (down 1.46%), Wipro (down 1.29%), Bajaj Finserv (down 1.16%) and Infosys (down 1.12%) were the major Nifty50 losers.

HDFC Bank rose 3.70% after the company reported its business update for the quarter ended 30 June 2026. For the quarter ended 30 June 2026, average advances under management (including interbank participation certificates, bills rediscounted, and securitization/assignment) increased 10.8% year-on-year (YoY) and 2.5% quarter-on-quarter (QoQ) to Rs 30,38,600 crore.

Stocks in Spotlight:

Bandhan Bank added 5.89% after the company reported total deposits increased 6.6% year-on-year (YoY) to Rs 1,64,886 crore as of 30 June 2026, compared with Rs 1,54,666 crore as of 30 June 2025.

Enviro Infra Engineers advanced 2.80% after the company announced that it has secured two prestigious hybrid annuity model (HAM) projects from Uttar Pradesh Jal Nigam (Rural). The aforesaid contract has been awarded under the Government of India's flagship Namami Gange Programme. The combined order value stands at Rs 256.92 crore.

Sobha shed 20%. The company's total sales value jumped 75.88% YoY to Rs 3,656.1 crore in Q1 FY27, led by a strong response to its new project launches, SOBHA OneWorld and Sacred Grove in Bangalore and SOBHA Crescent in Gurgaon.

Senco Gold rose 2.36% after the company reported a strong business performance in the first quarter of FY27, with total revenue rising about 60% year-on-year and 53% quarter-on-quarter.

Global Markets:

European markets traded all-time highs on Monday as investors paused to catch their breath following a solid week, shifting focus to a barrage of central bank commentary and critical economic data scheduled for later in the week.

Asian markets traded mixed as easing oil prices promised relief from inflationary pressures.

While there were no new developments in the fractious U.S.-Iran peace talks, ships are passing through the Strait of Hormuz, with 160 vessels reported from Monday to Saturday last week.

OPEC+ also agreed to a further increase in output targets by 188,000 barrels per day from August, on top of similar increases for June and July. As a result, Brent slipped 0.6% to near four-month lows at $71.70 a barrel, and U.S. crude lost 0.5% to $68.38.

The cooling in energy costs combined with a softer U.S. payrolls report led markets to scale back the risk of a Federal Reserve rate hike in the near term, with futures implying a 78% chance of a steady outcome at the July 29 meeting.

Minutes of the ⁠Fed's last meeting are due on Wednesday and should offer colour on the hawkish turn by some board members, though that preceded the recent slide in oil.

The US equity markets remained shut on Friday (July 03) in observance of Independence Day.

The Dow Jones Industrial Average scaled to record highs on Thursday as investors reacted to a weaker-than-expected nonfarm payrolls report for June, while the Nasdaq Composite languished as semiconductors struggled once again.

The 30-stock average added 594.83 points, or 1.14%, for a record close of 52,900.07. The index hit a new all-time intraday high of 52,903.85. The S&P 500 rose less than 1 point to end at 7,483.24, while the Nasdaq dropped 0.8% to 25,832.67.

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