The headline equity benchmarks ended with small gains today, supported by broad-based buying and easing geopolitical concerns, even as reports of a ceasefire violation by Iran surfaced. The Nifty settled above the 25,000 level.
In the barometer index, the S&P BSE Sensex, added 158.32 points or 0.19% to 82,055.11. The Nifty 50 index rose 72.45 points or 0.29% to 25,044.35.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.54% and the S&P BSE Small-Cap index added 0.71%. The market breadth was strong.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.88% to 13.64.
Among the sectoral indices, the Nifty PSU Bank index (up 1.46%), the Nifty Metal index (up 1.01%) and the Nifty Private Bank index (up 0.73%) outperformed the Nifty 50 index.
Meanwhile, the Nifty Media index (down 1.12%), the Nifty Oil & Gas index (down 0.17%) and the Nifty IT index (up 0.01%) underperformed the Nifty 50 index.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.59% to 6.271 from the previous close of 6.308.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.0440 compared with its close of 86.7850 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement fell 2.03% to Rs 97,374.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.30% to 98.08.
The United States 10-year bond yield added 0.56% to 4.343.
In the commodities market, Brent crude for August 2025 settlement tanked $1.87 or 2.62% to $69.61 a barrel.
Global Markets:
US Dow Jones futures jumped 292 points, pointing to a strong open for Wall Street.
European stocks edged higher, and Asian markets soared on Tuesday, buoyed by President Donald Trump’s claim of a ceasefire between Iran and Israel, though the agreement has yet to be officially confirmed by either nation.
Overnight in the US, all three major indices closed higher as investor nerves eased following Iran’s relatively muted response to the US airstrikes over the weekend. The Dow gained 0.89%, the S&P 500 rose 0.96%, and the Nasdaq advanced 0.94%.
Tesla shares surged over 8%, leading the Nasdaq's gains, after the company launched its long-awaited Robotaxi service in Austin, Texas.
Sentiment also got a boost from Fed Governor Michelle Bowman, who signaled that a rate cut could be on the table at July's meeting, provided inflation and labor market data remain supportive. Speaking in Prague, Bowman also downplayed the inflationary impact of Trump's proposed tariff wave, calling it temporary. All eyes now turn to Fed Chair Jerome Powell, who begins two days of testimony before Congress starting Tuesday.