Sensex gains 458 pts; PSU banks advance

The headline equity indices traded with substantial gains in the mid-afternoon trade, showing resilience despite weak global cues. Investors will monitor India-US trade talks and movements in crude oil prices.

The Nifty traded above the 26,000 level. PSU bank shares advanced after declining in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex jumped 457.71 points or 0.54% to 85,130.73. The Nifty 50 index advanced 137.60 points or 0.54% to 26,047.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.38% and the S&P BSE Small-Cap index slipped 0.29%.

The market breadth was negative. On the BSE, 1,775 shares rose and 2,327 shares fell. A total of 186 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.36% to 12.26.

Buzzing Index:

The Nifty PSU Bank index jumped 1.08% to 8,569. The index declined 0.16% in the past trading session.

Bank of Baroda (up 1.16%), Bank of India (up 1.06%), Punjab National Bank (up 1.01%), Central Bank of India (up 0.87%), Union Bank of India (up 0.80%), State Bank of India (up 0.77%), Punjab & Sind Bank (up 0.68%), Canara Bank (up 0.46%), UCO Bank (up 0.38%) and Bank of Maharashtra (up 0.26%) advanced.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.08% to 6.528 as compared with previous close 6.523.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.5352 compared with its close of 88.6000 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement rose 0.41% to Rs 1,23,146.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.12% to 99.56.

The United States 10-year bond yield shed 0.02% to 4.121.

In the commodities market, Brent crude for January 2025 settlement lost 57 cents or 0.88% to $64.32 a barrel.

Stocks in Spotlight:

Marksans Pharma declined 1.27%. The company announced that its wholly owned subsidiary, Marksans Pharma Inc., has received final approval from the USFDA for its abbreviated new drug application (ANDA) for Loperamide Hydrochloride Tablets USP, 2 mg (OTC).

G R Infraprojects rose 1% after it has received an engineering, procurement, and construction (EPC) contract worth Rs 262.28 crore for gauge conversion of 38.9 km on the Kosamba-Umarpada section of Western Railways.

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