The domestic equity benchmarks traded with robust gains in the early afternoon trade, as investors turned their focus to a heavy lineup of earnings announcements, sectoral trends, and global cues. The Nifty traded near the 24,300 level. PSU bank shares advanced after declining in the past three consecutive trading sessions.
At 12:30 IST, the barometer index, the S&P BSE Sensex, surged 1,071.51 points or 1.35% to 80,284.04. The Nifty 50 index jumped 309.55 points or 1.29% to 24,348.90.
In the broader market, the S&P BSE Mid-Cap index gained 1.16% and the S&P BSE Small-Cap index added 0.53%.
The market breadth was positive. On the BSE, 2,055 shares rose and 1,740 shares fell. A total of 215 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 1.28% to 16.94.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 1.92% to 16.83. The Nifty 29 May 2025 futures were trading at 24,437.40, at a premium of 88.50 points as compared with the spot at 24,348.90.
The Nifty option chain for the 29 May 2025 expiry showed a maximum call OI of 35 lakh contracts at the 24,500 strike price. Maximum put OI of 46.7 lakh contracts was seen at 24,000 strike price.
Buzzing Index:
The Nifty PSU Bank index jumped 1.93% to 6,661.80. The index tumbled 2.95% in the past three consecutive trading sessions.
Union Bank of India (up 2.38%), Bank of India (up 2.26%), Punjab National Bank (up 2.07%), Bank of Baroda (up 1.74%), State Bank of India (up 1.62%), Canara Bank (up 1.49%), Indian Bank (up 1.43%), Bank of Maharashtra (up 1.14%), Central Bank of India (up 0.95%) and Indian Overseas Bank (up 0.88%) advanced.
Stocks in Spotlight:
RBL Bank surged 10.86% after the bank reported a reduction in its gross non-performing assets (GNPA) and net non-performing assets (NNPA) ratios in Q4 March 2025. The private lender's standalone net profit tumbled 80.52% to Rs 68.70 crore in Q4 FY25 as against Rs 352.64 crore posted in Q4 FY24. Total income increased 6.19% year on year (YoY) to Rs 4,475.60 crore in the quarter ended 31 March 2025.
Rossari Biotech slipped 1.03%. The company’s consolidated net profit rose marginally to Rs 34.44 crore in Q4 FY25 as against Rs 34.13 crore posted in Q4 FY24. However, revenue from operations jumped 22.60% to Rs 579.56 crore in the fourth quarter of FY25 as against Rs 472.72 crore posted in the corresponding quarter last year.
India Cements declined 1.82% after the company reported a standalone net loss of Rs 75.66 crore in Q4 FY25 as against a net loss of Rs 29.33 crore posted in Q4 FY24. Revenue from operations declined 3.87% year-on-year (YoY) to Rs 1,197.13 crore in Q4 FY25, compared to Rs 1,245.38 crore in the same period last year.