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The domestic equity benchmarks extended their upswing and hit fresh intraday highs in afternoon trade. The Nifty traded near the 24,250 level. FMCG, metals, IT & financials advanced while realty, auto and oil & gas shares lagged behind. The market sentiment was supported by upbeat corporate earnings, optimism over the earnings outlook, positive global cues, continued foreign fund inflows, and investor focus on the U.S. Federal Reserve's policy decision. Media shares advanced after declining in the past trading session. At 13:25 IST, the barometer index, the S&P BSE Sensex added 894.98 points or 1.17% to 77,660.90. The Nifty 50 index advanced 265.60 points or 1.11% to 24,250.95. In the broader market, the BSE 150 MidCap Index rose 0.69% and the BSE 250 SmallCap Index added 1.19%. The market breadth was strong. On the BSE, 2,541 shares rose and 1,517 shares fell. A total of 217 shares were unchanged. Economy: Index of Industrial Production (IIP) expanded by 7.3% year-on-year growth in June 2026 up from 5% in May driven by a strong rebound in manufacturing activity and robust growth in the electricity and gas supply segment. Manufacturing output increased 7.8%, while the Electricity & Gas Supply segment recorded a sharp 10.6% growth during the month. Within manufacturing, 19 of the 23 industry groups recorded. Gainers & Losers: Hindustan Unilever up (4.22%), Infosys (up 4.03%), Cipla (up 2.73%), Larsen & Toubro (up 2.70%) and Hindalco (up 2.56%) were the major Nifty50 gainers. Adani Ports (down 2.18%), Mahindra & Mahindra (down 1.33%), Power Grid Corp (down 1.24%), Bajaj Finserv (down 0.81%) and Bharat Electronics (down 0.63%) were the major Nifty50 losers. Stocks in Spotlight: Colgate-Palmolive (India) was up 0.02%. The company's standalone net profit climbed 7.01% to Rs 343.08 crore on 11.96% increase in revenue from operations to Rs 1,590.56 crore in Q1 FY27 over Q1 FY26. Gland Pharma added 3.38%. The company received approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Sugammadex Injection. Paradeep Phosphates surged 12.24%. The company reported a 23.93% jump in consolidated net profit to Rs 392.54 crore in Q1 FY27, compared with Rs 316.75 crore in Q1 FY26. Global Markets: European shares were largely flat on Wednesday, as wave of strong earnings reports across European banking, luxury, and mining heavyweights offset escalating military action in the Middle East. Meanwhile, in Asia, markets traded in a mixed manner as investors continued to monitor rising oil prices and the US Fed's latest interest rate decision, due later. While the Fed is widely expected to keep benchmark interest rates unchanged, money markets are pricing in roughly a 1-in-3 chance of an unexpected rate hike or hawkish forward guidance, driven by persistent inflation concerns, fresh trade tariffs, and rising energy prices. Overnight in the U.S., the Dow rallied on Tuesday, buoyed by strong earnings, falling oil prices and a rotation out of semiconductors into other parts of the market. The Dow Jones Industrial Average advanced 537.24 points, or 1.03%, closing at 52,742.32. The S&P 500 rose 0.21% to settle at 7,428.78, while the Nasdaq Composite fell 0.22% and ended at 24,876.91. Powered by Capital Market - Live News
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