Barometers trade with major gains; European mrkt opens higher

The domestic equity benchmarks traded with substantial gains in early afternoon trade, continuing to show resilience amid escalating tensions between Israel and Iran. Market sentiment remains sensitive to global cues, including crude oil prices and other international developments.

The Nifty traded above the 25,050 mark. Barring the Nifty Media index, all the other sectoral indices on the NSE traded in green.

At 13:30 IST, the barometer index, the S&P BSE Sensex jumed 893.22 points or 1.09% to 82,251.79. The Nifty 50 index jumped 271.85 points or 1.10% to 25,065.15.

In the broader market, the S&P BSE Mid-Cap index rose 0.87% and the S&P BSE Small-Cap index added 0.44%.

The market breadth was strong. On the BSE, 2,368 shares rose and 1,453 shares fell. A total of 163 shares were unchanged.

Gainers & Losers:

Jio Financial Services (up 2.89%), HDFC Life Insurance Company (up 2.70%), Mahindra & Mahindra (up 2.68%), Bharti Airtel (up 2.45%) and Nestle India (up 1.96%) were the major Nifty50 gainers.

Hero MotoCorp (down 1.38%), Bajaj Finance (down 0.39%), Dr. Reddy's Laboratories (down 0.26%), UltraTech Cement (down 0.13%) and Maruti Suzuki India (down 0.08%) were the major Nifty50 Losers.

Stocks in Spotlight:

Dilip Buildcon rose 1.40% after the company announced that it has received a letter of acceptance (LoI) worth Rs 1,341 crore from Konkan Railway Corporation (KRCL).

Uno Minda advanced 2.42% after the companys board has approved the setting up of a greenfield manufacturing facility for aluminium die casting in Sambhaji Nagar, Maharashtra for Rs 210 crore.

Premier Explosives added 0.96%. The company announced that it has secured a purchase order worth Rs 6.62 crore from an international client for the manufacture and supply of defence products.

Suzlon Energy rallied 2.98% after the company has bagged its third successive order from Ampin Energy Transition (AMPIN) for the development of a 170.1 MW wind power project in Kurnool, Andhra Pradesh.

TD Power Systems added 0.14%. The company secured an order worth Rs 67 crore from a leading multinational corporation for the supply of components for traction motors meant for export.

ITD Cementation India declined 2.79%. The company announced that it has secured two major contracts cumulatively valued at approximately Rs 960 crore, excluding GST.

Global Markets:

US Dow Jones futures were down 89 points, signaling a weak start for Wall Street. Wall Street was closed on Thursday for the Juneteenth holiday.

European shares advanced on Friday, despite a sharp decline in U.K. retail spending. According to the Office for National Statistics, retail sales in the U.K. fell by 2.7% in May the steepest monthly drop since December 2023 as shoppers pulled back on spending.

In addition to releasing retail sales data, the Office for National Statistics also reported that public borrowing in May reached 17.7 billion ($23.8 billion), which is 700 million higher than the same period last year.

Most Asian markets traded higher as investors assessed China data and monitored escalating tensions between Israel and Iran.

U.S. President Donald Trump is now weighing on whether to back the Israeli military and strike Tehran. The White House said that he will make a final decision within the next two weeks.

Japan's core consumer price index (CPI), which excludes volatile fresh food costs, rose 3.7% in May from a year earlier, data showed on Friday, accelerating from a 3.5% increase in April.

China kept its benchmark lending rates unchanged Friday. The Peoples Bank of China held the 1-year loan prime rate at 3.0% and 5-year LPR at 3.5%, according to a statement Friday.

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