The key equity indices pared all early losses and traded with minor gains in morning trade. The Nifty traded above the 24,850 mark. Oil & gas shares witnessed buying demand for the fifth consecutive trading session.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 99.36 points or 0.13% to 81,455.20. The Nifty 50 index advanced 35.60 points or 0.14% to 24,871.70.
The broader market outperformed the headline indices. The S&P BSE Mid-Cap index added 0.41% and the S&P BSE Small-Cap index gained 0.75%.
The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 48,288.77 and 55,352.70, respectively.
The market breadth was strong. On the BSE, 2,240 shares rose and 1,342 shares fell. A total of 156 shares were unchanged.
Result today:
Gail (up 0.97%), Varun Beverages (down 0.51%), Tata Consumer Products (down 0.14%), 360 ONE WAM (up 2.66%), Aegis logistics (up 0.24%), Ajanta Pharma (up 0.18%), Apar Industries (up 1%), Arvind SmartSpaces (up 0.92%), Carborundum Universal (down 0.19%), CarTrade Tech (down 0.41%), Castrol India (down 0.26%), Dixon Technologies (down 0.31%), Exide Industries (down 1.54%), Fine Organics Industries (up 4%), Force Motors (up 1.99%), Firstsource Solutions (down 0.52%), Granules India (down 0.71%), Greenpanel Industries (up 0.45%), Indiamart Intermesh (down 0.53%), Indus Towers (up 1.57%), Indian Oil Corporation (up 2.44%), Jindal Stainless (down 0.41%) and LLOYDS Metals and Energy (up 0.26%) will announced their quarterly earnings later today.
Buzzing Index:
The Nifty Oil & Gas index gained 1.04% to 13,321.90. The index rallied 6.57% in five consecutive trading sessions.
Bharat Petroleum Corporation (up 5%), Hindustan Petroleum Corporation (up 3.6%), Mahanagar Gas (up 3.14%), Gujarat State Petronet (up 3.03%), Gujarat Gas (up 2.65%), Indian Oil Corporation (up 2.28%), Oil & Natural Gas Corpn (up 1.56%), Indraprastha Gas (up 1.52%), Petronet LNG (up 1.2%) and GAIL (India) (up 0.94%) advanced.
On the other hand, Reliance Industries (down 0.28%), Castrol India (down 0.18%) and Aegis Logistics (down 0.16%) edged lower.
Stocks in Spotlight:
ACC shed 0.74%. The company's consolidated net profit declined 22.47% to Rs 361.40 crore in Q1 FY25 as compared with Rs 466.14 crore in corresponding quarter last year. Revenue from operations fell marginally 0.89% YoY to Rs 5,154.89 crore in Q1 FY25.
Aarti Drugs advanced 1.44% after the pharmaceuticals company informed that its Baddi facility has received Establishment Inspection Report (EIR) from US drug regulator, concluding the inspection as closed.