The headline equity benchmarks traded with moderate gains in early afternoon trade. The Nifty traded above the 24,400 level. Pharma shares advanced after declining for previous trading session. Market participants awaited key economic data releases scheduled for later in the week, including the Wholesale Price Index (WPI), Consumer Price Index (CPI), and the trade balance.
At 12:30 IST, the barometer index, the S&P BSE Sensex advanced 266.90 points or 0.32% to 80,112.66. The Nifty 50 index added 80.65 points or 0.33% to 24,443.10.
In the broader market, the S&P BSE Mid-Cap index rose 0.38% and the S&P BSE Small-Cap index fell 0.07%.
The market breadth was negative. On the BSE, 1,958 shares rose and 1,979 shares fell. A total of 196 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.13% to 12.41. The Nifty 28 August 2025 futures were trading at 24,517.30 at a premium of 74.2 points as compared with the spot at 24,443.10.
The Nifty option chain for the 28 August 2025 expiry showed a maximum call OI of 65.5 lakh contracts at the 25,000 strike price. Maximum put OI of 41.5 lakh contracts was seen at 24,000 strike price.
Buzzing Index:
The Nifty Pharma index rose 0.54% to 21,518.50. The index fell 1.30% in the previous trading session.
Zydus Lifesciences (up 1.74%), Ajanta Pharma (up 1.15%), Dr Reddys Laboratories (up 1.04%), Cipla (up 1.03%) and Lupin (up 0.91%), Sun Pharmaceutical Industries (up 0.84%), Alkem Laboratories (up 0.79%), Divis Laboratories (up 0.74%), J B Chemicals & Pharmaceuticals (up 0.72%) and Torrent Pharmaceuticals (up 0.59%) added.
On the other hand, Ipca Laboratories (down 1.38%), Mankind Pharma (down 1.23%) and Biocon (down 1.12%) edged lower.
Lupin rose 0.91%. The company announced the launch of Glucagon for Injection USP, 1 mg/vial, packaged in an emergency kit, in the United States.
Stocks in Spotlight:
Yatra Online hit upper circuit of 20% after the company reported a consolidated net profit of Rs 16 crore in Q1 FY26, which is significantly higher as compared with PAT of Rs 4.04 crore recorded in Q1 FY25. Revenue from operations surged 108.1% YoY to Rs 209.81 crore in Q1 June 2025.
Leo Dryfruits & Spices Trading rose 2.03% after the company announced that it has secured a significant supply order from Kendriya Police Kalyan Bhandar (KPKB), under the Ministry of Home Affairs, Government of India.