Nifty surges above 25,250 mark; PSU Bank shares rally

The key domestic indices continued to trade with decent gains in morning trade. Investors will keep a close eye on crucial Q2 earnings season, ongoing IPO activity and global cues. Nifty scaled above 25,250 mark.

PSU Bank jumped for the second consecutive trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 349.23 points or 0.42% to 82,517.83. The Nifty 50 index added 92.55 points or 0.36% to 25,273.50.

In the broader market, the S&P BSE Mid-Cap index added 0.35% and the S&P BSE Small-Cap index rose 0.59%.

The market breadth was strong. On the BSE, 2,457 shares rose and 1,200 shares fell. A total of 191 shares were unchanged.

New Listing:

Shares of WeWork India Management were currently trading at Rs 640.20 at 10:15 IST on the BSE, representing a discount of 1.20% as compared with the issue price of Rs 648.

The stock was listed at Rs 646.50, a slight 0.23% discount to the issue price.

So far, the stock has hit a high of 649.45 and a low of 615. On the BSE, over 2.60 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty PSU Bank index added 1.87% to 7,710.70. The index jumped 2.49% in the two consecutive trading sessions.

Indian Overseas Bank (up 3.17%), UCO Bank (up 2.47%), Central Bank of India (up 2.12%), Punjab & Sind Bank (up 1.91%), Bank of Maharashtra (up 1.59%), State Bank of India (up 1.49%), Punjab National Bank (up 1.48%), Canara Bank (up 1.24%), Union Bank of India (up 1.17%) and Bank of Baroda (up 0.93%) surged.

Stocks in Spotlight:

Tata Elxsi fell 1.52% after the company reported 32.52% decline in net profit to Rs 154.81 crore as revenue from operations fell by 3.87% to Rs 918.10 crore in Q2 FY26 as compared with Q2 FY25.

Subex hit an upper limit of 10% after the company won a $6.62 million contract from a leading telecom operator in the Netherlands.

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