The frontline indices traded with modest gains in the afternoon trade, boosted by strong foreign institutional investor (FII) inflows. The positive momentum persisted despite ongoing global risks and worries about approaching tariff deadlines. The Nifty hovered above the 25,600 level. Oil & gas, PSU bank and auto shares advanced, while realty and IT shares declined.
At 13:30 IST, the barometer index, the S&P BSE Sensex, jumped 238.43 points or 0.28% to 83,993.09. The Nifty 50 index added 80.90 points or 0.32% to 25,628.50.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.39% and the S&P BSE Small-Cap index added 0.51%.
The market breadth was strong. On the BSE, 2,216 shares rose and 1,666 shares fell. A total of 192 shares were unchanged.
Gainers & Losers:
Jio Financial Services (up 3.92%), IndusInd Bank (up 2.57%), Adani Enterprises (up 2.20%), Asian Paints (up 1.83%) and Apollo Hospitals Enterprise (up 1.65%) were the major Nifty50 gainers.
Bajaj Finance (down 1.37%), Eternal (down 1.13%), Bajaj Finserv (down 1.07%), Dr. Reddy's Laboratories (down 1.02%) and Grasim Industries (down 0.95%) were the major Nifty50 losers.
Stocks in Spotlight:
Akzo Nobel India jumped 7.70% after the company announced that its existing promoters have entered into a share purchase agreement (SPA) with JSW Paints for selling their 74.76% stake for a total consideration of Rs 9,403.21 crore.
Diamond Power Infrastructure added 1.44% after the company announced the recommissioning of its extra high voltage (EHV) testing laboratory to meet the dynamic needs of India’s power sector.
Century Plyboards (India) rose 1.69% after the company announced the commencement of commercial production at its newly established particleboard manufacturing facility in Tamil Nadu.
Adani Enterprises advanced 2.09% after the company announced that its joint venture, AdaniConneX (ACX), has completed the acquisition of a 100% equity stake in Granthik Realtors (GRPL) from Windson Projects LLP.
Global Markets:
European stocks rose on Friday, ending the week on an optimistic note after weathering a few weeks of heightened Middle East tensions and uncertainties over tariffs.
Asian shares traded mixed, mirroring Wall Street's upbeat mood after White House spokesperson Karoline Leavitt downplayed looming tariff deadlines that had been keeping investors on edge.
All eyes are on July 8, when the so-called "liberation day" tariffs are scheduled to kick in following a 90-day pause. The following day, July 9, marks the cutoff for a potential EU deal that could avert a hefty 50% tariff hike.
In Japan, fresh inflation data from Tokyo offered a mild surprise. Core CPI, which excludes volatile food and fuel prices, rose 3.1% year-on-year in June, cooler than the 3.6% reading in May, hinting at easing price pressures.
Back in the U.S., the S&P 500 closed just shy of a record high, jumping 0.8%. The Nasdaq climbed 0.97%, while the Dow followed closely with a 0.94% gain. Investors shrugged off economic headwinds ranging from tariff spats to sticky inflation and shaky geopolitics.
A temporary calm in the Middle East also helped sentiment. The truce between Israel and Iran, brokered by former President Trump, held firm through Thursday. Trump has indicated fresh talks with Iran are on the cards, potentially aimed at curbing its nuclear ambitions.
The U.S. economy hit a speed bump—GDP contracted at an annualized rate of 0.5% in Q1, marking the first dip since 2022. At the same time, weekly jobless claims dropped by 10,000, though economists caution the unemployment rate could inch up in June as job seekers face a tighter market.
In tech, NVIDIA continued its meteoric rise, hitting new all-time highs. The stock has surged nearly 40% since April's tariff turbulence sparked a brief sell-off.
Micron Technology also lit up the chip sector, with upbeat Q2 earnings and guidance that sailed past analyst expectations.