The key equity indices traded with major gains in the afternoon trade, buoyed by positive global cues following U.S. President Donald Trump's announcement of tariff exemptions on electronic goods. The Nifty traded above the 23,300 level. Metal shares extended gains for the second consecutive trading session.
At 14:28 IST, the barometer index, the S&P BSE Sensex, soared 1,559.45 points or 2.07% to 76,716.71. The Nifty 50 index surged 488.35 points or 2.14% to 23,315.40.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rallied 2.48% and the S&P BSE Small-Cap index surged 2.95%.
The market breadth was strong. On the BSE, 3,238 shares rose and 811 shares fell. A total of 169 shares were unchanged.
Economy:
India's wholesale inflation, based on the Wholesale Price Index, eased to 2.05% in March as compared with 2.38% in February. It had stood at 0.26% in March 2024. 'Positive rate of inflation in March, 2025 is primarily due to increase in prices of manufacture of food products, other manufacturing, food articles, electricity, manufacture of textiles, etc., the industry ministry said in a statement.
Buzzing Index:
The Nifty Metal index advanced 2.92% to 8,407. The index rallied 7.13% in the past two consecutive trading sessions.
Hindustan Zinc (up 5.19%), Jindal Steel & Power (up 4.29%), Adani Enterprises (up 4.27%), Hindustan Copper (up 3.93%), National Aluminium Company (up 3.84%), Steel Authority of India (up 3.82%), Vedanta (up 3.56%), Lloyds Metals & Energy (up 3.55%), NMDC (up 3.02%) and Hindalco Industries (up 2.67%) advanced.
Numbers to Track:
The yield on India's 10-year benchmark federal paper advanced 1.10% to 6.515, compared with the previous close of 6.440.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.7550, compared with its close of 86.1000 during the previous trading session.
MCX Gold futures for the 5 June 2025 settlement rose 0.07% to Rs 93,321.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.08% to 99.62.
The United States 10-year bond yield shed 0.21% to 4.355.
In the commodities market, Brent crude for June 2025 settlement fell 9 cents or 0.14% to $64.79 a barrel.
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