At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 199.24 points or 0.25% to 80,864.10. The Nifty 50 index rose 66.70 points or 0.27% to 24,653.40.
The Nifty50 index hit an all-time high at 24,661.25 in mid-morning trade.
In the broader market, the S&P BSE Mid-Cap index rose 0.22% and the S&P BSE Small-Cap index gained 0.82%.
The market breadth was strong. On the BSE, 2,319 shares rose and 1,381 shares fell. A total of 149 shares were unchanged.
Earnings Today
Alok Industries (up 0.04%), Bajaj Auto (up 0.05%), Century Textiles (up 5.20%), Crisil (up 0.31%), DB Corp (up 3.04%), Himadri Speciality Chemical (up 1.44%), Jubilant Ingrevia (up 0.27%), Just Dial (up 0.96%) and L&T Finance (down 1.78%) will announce their quarterly later in the day.
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Buzzing Index:
The Nifty Metal index rose 0.60% to 9,788.40. The index added 0.80% in two trading sessions.
Tata Steel (up 1.7%), Jindal Steel & Power (up 1.58%), Welspun Corp (up 1.45%), NMDC (up 1.37%), Jindal Stainless (up 1.13%), Adani Enterprises (up 0.83%), National Aluminium Company (up 0.77%), JSW Steel (up 0.72%), Vedanta (up 0.65%) and Steel Authority of India (up 0.63%) advanced.
On the other hand, Hindalco Industries (down 0.31%) and APL Apollo Tubes (down 0.08%) edged lower.
Stocks in Spotlight:
Angel One declined 0.74%. The company reported 32.56% jumped in consolidated net profit (from continuing operations) to Rs 292.73 crore in Q1 FY25 as against Rs 220.82 crore recorded in Q1 FY24. Revenue from operations jumped 74.05% YoY to Rs 1,405.45 crore in Q1 FY25.
Hatsun Agro Product jumped 7.38% after its net profit jumped 62.89% to Rs 130.54 crore in Q1 FY25 as compared to Rs 80.14 crore in Q1 FY24. Revenue from operations rose 10.44% to Rs 2,375.06 crore during the quarter ended June 2024 quarter as compared with Rs 2,150.64 crore posted in corresponding quarter last year.
Global Markets:
Asian stocks traded mixed on Tuesday, dismissing gains on Wall Street due to concerns of a potential second term for Donald Trump, leading to worries about trade and geopolitical issues. China and Hong Kong shares fell amid fears of Trump's proposed tariffs.
Investor concerns grew as China's GDP growth unexpectedly slowed, primarily due to weakened consumer spending undermining export growth. The implications have raised pressure on policymakers to boost support measures at an upcoming economic meeting.
In the U.S., the Dow Jones Industrial Average surged to an all-time high after Trump announced JD Vance as his running mate, leading to a 31% increase in Trump Media & Technology Group Corp. Trump's growing odds of victory have positively influenced various industries.
Meanwhile, Federal Reserve Chair Jerome Powell expressed confidence in the second-quarter economic data, hinting at possible near-term interest-rate cuts but refrained from specifying the timing.
On Monday, the Dow Jones Industrial Average moved up 0.5% and the S&P 500 gained 0.28%. The tech-heavy Nasdaq composite climbed 0.42%.
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