Barometers trade with minor gains; IT shares rally

The headline equity benchmarks traded with small gains in the mid-afternoon trade, impacted by mixed corporate earnings. However, strong foreign and domestic institutional inflows continued to provide support to overall market sentiment. The Nifty traded above the 22,300 level. IT shares advanced after declining for the previous trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, added 127.33 points or 0.17% to 80,354.07. The Nifty 50 index rose 17.35 points or 0.07%, to 24,345.45.

In the broader market, the S&P BSE Mid-Cap index rose 0.29%, and the S&P BSE Small-Cap index added 0.11%.

The market breadth was negative. On the BSE, 1,819 shares rose and 2,007 shares fell. A total of 154 shares were unchanged.

Buzzing Index:

The Nifty IT index added 1.63% to 36,060.10. The index shed 0.22% in the previous trading session.

LTIMindtree (up 3.24%), Tech Mahindra (up 2.7%), Persistent Systems (up 2.63%), Coforge (up 2.18%), HCL Technologies (up 1.87%), Infosys (up 1.63%), Tata Consultancy Services (up 1.35%), Mphasis (up 1.26%), Oracle Financial Services Software (up 1.04%), and Wipro (up 0.77%) added.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.75% to 6.444 as compared with previous close 6.495.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.2350, compared with its close of 85.2375 during the previous trading session.

MCX Gold futures for 5 June 2025 settlement shed 0.57% to Rs 95,475.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.28% to 99.21.

The United States 10-year bond yield added 0.47% to 4.236

In the commodities market, Brent crude for June 2025 settlement fell 60 cents, or 0.91% to $65.26 a barrel.

Stocks in Spotlight:

Hexaware Technologies rallied 3.06% after the company's consolidated net profit increased 2.6% to Rs 327.2 crore on a 1.7% rise in revenue from operations to Rs 3,207.9 crore in Q1 CY25 over Q1 CY24.

Vimta Labs gained 1.42% after the company reported a 31.2% increase in net profit from continuing operations to Rs 18.32 crore on a 31.4% rise in total income to Rs 96.08 crore in Q4 FY25 as compared with Q4 FY24.

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