Nifty trades above 24,950 mark; media shares decline

The domestic equity indices traded with major gains in the mid- afternoon trade, rebounding from losses in a special weekend session, even as investors assessed the implications of the federal budget, which fell short of expectations on measures to attract foreign capital.

The Nifty traded above the 24,950 mark. Media shares extended losses for second consecutive trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex, jumped 539.29 points or 0.67% to 81,262.23. The Nifty 50 index rose 137.05 points or 0.55% to 24,962.50.

The broader market underperformed the frontline indices. The S&P BSE 150 Mid-Cap index fell 0.22% and the S&P BSE 250 Small-Cap index shed 0.68%.

The market breadth was negative. On the BSE, 1,490 shares rose and 2,647 shares fell. A total of 159 shares were unchanged.

Economy:

Indias manufacturing activity recovered in January after losing momentum in December, though business confidence weakened. The HSBC India Manufacturing Purchasing Managers Index (PMI) rose to 55.4 in January from a two-year low of 55.0 in December, remaining well above the 50-mark that separates expansion from contraction.

Buzzing Index:

The Nifty Media index declined 0.92% to 1,347.70. The index fell 2.70% in for the two consecutive trading session.

Saregama India (down 3.79%), Network 18 Media & Investments (down 2.82%), Hathway Cable & Datacom (down 2.12%), Zee Entertainment Enterprises (down 2.08%), Nazara Technologies (down 1.91%), D B Corp (down 1.15%), Sun TV Network (down 0.62%) declined.

On the other hand, Prime Focus (up 2.62%), Tips Music (up 1.78%) and PVR Inox (up 0.66%) added.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 1.19% to 6.775 compared with previous session close of 6.695.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 91.4700 compared with its close of 90.9350 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement declined 2.59% to Rs 143,927.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.11% to 97.12.

The United States 10-year bond yield fell 0.47% to 4.224.

In the commodities market, Brent crude for April 2026 settlement fell $3.11 or 4.49% to $64.21 a barrel.

Brent crude prices slid after U.S. President Donald Trump said over the weekend that Iran was seriously talking with Washington, signaling a possible easing of tensions with the OPEC member. The comments helped temper fears of a potential military strike that had earlier pushed oil prices to multi-month highs.

Stocks in Spotlight:

Atul Auto soared 5.26% after the company reported a 30.09% rise in total sales to 3,606 units in January 2026 as against 2,772 units sold in January 2025.

Bartronics India added 1.11% after the company reported standalone net profit of Rs 2.44 crore in Q3 FY26, compared with net loss of Rs 0.32 crore in Q3 FY25. Revenue from operations stood at Rs 48.34 crore in Q3 FY26, registering the growth of 455.63%, compared with Rs 8.70 crore in Q3 FY25.

Brahmaputra Infrastructure rose 2.04% after the company announced that it has secured an order worth Rs 68.91 crore from the Water Resources Department, Assam, for riverbank protection works in the state.

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