At 14:30 IST, the barometer index, the S&P BSE Sensex jumped 1,103.04 points or 1.38% to 81,146.54. The Nifty 50 index climbed 377.50 points or 1.55% to 24,783.60.
In the broader market, the S&P BSE Mid-Cap index rallied 2.12% and the S&P BSE Small-Cap index added 1.05%.
The market breadth was strong. On the BSE, 2,649 shares rose and 1,193 shares fell. A total of 134 shares were unchanged.
Buzzing Index:
The Nifty Auto index advanced 2.17% to 26,183.65. The index rallied 3.45% in the two consecutive trading sessions.
Bharat Forge (up 5.94%), Ashok Leyland (up 5.79%), Balkrishna Industries (up 2.85%), Apollo Tyres (up 2.72%), Samvardhana Motherson International (up 2.15%), Mahindra & Mahindra (up 2.03%), TVS Motor Company (up 2.03%), Bajaj Auto (up 2.01%), Eicher Motors (up 1.93%) and Exide Industries (up 1.9%) advanced.
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Numbers to Track:
The yield on India's 10-year benchmark federal rallied 1.48% to 7.055 as compared with previous close 7.076.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.7200, compared with its close of 83.7800 during the previous trading session.
MCX Gold futures for 5 August 2024 settlement rose 0.44% to Rs 67,753.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 104.44.
The United States 10-year bond yield shed 0.09% to 4.254.
In the commodities market, Brent crude for September 2024 settlement lost 9 cent or 0.11% to $82.28 a barrel.
Stocks in Spotlight:
Piramal Pharma fell 1.05% after the pharmaceutical companys consolidated net loss contracted to Rs 88.64 crore in Q1 FY25 as against Rs 98.58 crore posted in Q1 FY24. Revenue from operations grew by 11.57% year on year (YoY) to Rs 1,951.14 crore during the quarter, driven by robust high-teen growth in the CDMO business and steady double-digit growth in the ICH business.
Go Digit General Insurance jumped 3.75% after the companys consolidated net profit jumped 74.14% to Rs 101 crore in Q1 FY25 as compared with Rs 58 crore in Q1 FY24. Total income increased 24.57% YoY to Rs 2,076.99 crore in Q1 FY25.
Glenmark Life Sciences declined 2.97% after the companys standalone net profit declined 17.69% to Rs 111.48 core in Q1 FY25 as compared with Rs 135.45 crore in Q1 FY24. Revenue from operations rose 1.75% YoY to Rs 588.62 crore in the first quarter of FY25.
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