At 09:25 IST, the barometer index, the S&P BSE Sensex, was up 143.29 points or 0.18% to 80,674.58. The Nifty 50 index rose 48.30 points or 0.20% to 24,550.45.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.03% and the S&P BSE Small-Cap index shed 0.06%.
The market breadth was positive. On the BSE, 1,747 shares rose and 1,208 shares fell. A total of 159 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 4,021.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,651.45 crore in the Indian equity market on 12 July 2024, provisional data showed.
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The yield on India's 10-year benchmark federal paper was up 0.13% to 6.995 as compared with previous close 6.976.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.5400, compared with its close of 83.5150 during the previous trading session.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.11% to 104.20.
The United States 10-year bond yield advanced 1.30% to 4.239.
In the commodities market, Brent crude for September 2024 settlement added 14 cents or 0.16% to $85.17 a barrel.
Stocks in Spotlight:
HCL Technologies (HCL Tech) rallied 3.73% after the company reported 6.8% rise in consolidated net profit to Rs 4,257 crore in Q1 FY25 from Rs 3,986 crore in Q4 FY24. Revenue from operations declined 1.6% to Rs 28,057 crore in the first quarter of FY25 from Rs 28,499 crore recorded in the last quarter of FY24. The coampny declared dividend of Rs 12 per share.
Indian Renewable Energy Development of India (IREDA) jumped 5.60% after the company reported a 30% increase in consolidated net profit to Rs 383.69 crore in Q1 FY25 as compared with Rs 294.58 crore in Q1 FY24. Revenue from operations increased 32% YoY to Rs 1510.28 crore in Q1 FY25.
Sun Teck Realty declined 1.88%. The company recorded 29.71% increase in pre-sales to Rs 502 crore in Q1 FY25 from Rs 387 crore in Q1 FY24.
Global Market:
Asian stocks traded mixed on Monday, influenced by contrasting factors.
China's economic growth fell short of expectations in the second quarter, dampening sentiment. The country's GDP expanded by 4.7% year-on-year, slowing from the previous quarter's 5.3%. Additionally, uncertainty surrounding U.S. politics, following an assassination attempt on former President Donald Trump, added to market volatility.
However, losses were tempered by a positive close on Wall Street on Friday, where major indexes approached record highs amid growing expectations of interest rate cuts. Wall Street futures remained modestly positive in Asian trading hours, although the impact of the attempted assassination on the 2024 presidential race remains unclear. Trump is scheduled to be officially nominated as the Republican presidential candidate at this week's party convention
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