The key equity indices traded with substantial gains in the mid-afternoon trade, driven by strong performance in IT stocks. The upward momentum continued as U.S. Federal Reserve Chair Jerome Powell signaled a potential interest rate cut next month. Investors will also monitor the upcoming manufacturing PMI, services PMI and composite PMI values scheduled for later this week. The Nifty hovered above the 24,950 mark. Consumer durables shares extended gains for the second consecutive trading session.
At 14:28 IST, the barometer index, the S&P BSE Sensex, advanced 371.90 points or 0.46% to 81,677.27. The Nifty 50 index gained 115.25 points or 0.47% to 24,985.35.
In the broader market, the S&P BSE Mid-Cap index rose 0.31% and the S&P BSE Small-Cap index added 0.19%.
The market breadth was negative. On the BSE, 2,032 shares rose and 2,100 shares fell. A total of 203 shares were unchanged.
Economy:
Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating at 'BBB-' with a Stable Outlook. While upcoming U.S. tariffs pose a moderate downside risk, Fitch notes the situation remains uncertain. The Trump administration plans to impose a 50% tariff on Indian goods starting August 27.
Buzzing Index:
The Nifty Consumer Durables index jumped 0.81% to 39,100.55. The index rallied 0.90% in the two consecutive trading sessions.
PG Electroplast (up 2.53%), Crompton Greaves Consumer Electricals (up 1.74%), Dixon Technologies (India) (up 1.5%), Amber Enterprises India (up 0.98%), Titan Company (up 0.97%), Whirlpool of India (up 0.65%), Voltas (up 0.59%), Havells India (up 0.39%) and Kalyan Jewellers India (up 0.07%) advanced.
On the other hand, Kajaria Ceramics (down 1.09%), Cera Sanitaryware (down 0.96%) and V-Guard Industries (down 0.86%) edged lower.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.55% to 6.585 from the previous close of 6.574.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 87.6000 compared with its close of 87.5250 during the previous trading session.
MCX Gold futures for 3 October 2025 settlement added 0.07% to Rs 100,450.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.15% to 97.74.
The United States 10-year bond yield rose 0.31% to 4.273.
In the commodities market, Brent crude for October 2025 settlement gained 25 cents or 0.37% to $67.98 a barrel.
Stocks in Spotlight:
Shree Refrigerations climbed 19.31% after the company announced that it has secured an order worth Rs 106.6 crore from Hindustan Shipyard.
Eris Lifesciences added 0.07%. The company said that its manufacturing unit at the company's Ahmedabad campus has received approval from ANVISA, which is Brazil's national health regulatory agency.
NBCC (India) rose 0.68%. The company has been selected as the lead agency to design, build, and market a landmark development project on 95 acres of land owned by the Rajasthan State Industrial Development & Investment Corporation (RIICO) along the B2 Bypass, Tonk Road.
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