Indian equity markets traded in positive territory with the S&P BSE Sensex gaining 344.29 points or 0.45% to 77,152.77 and the Nifty 50 index jumping 98.60 points or 0.41% to 24,087.75 as of 11:25 IST. According to latest reports, the broader market showed strong performance with the BSE 150 MidCap Index gaining 0.53% and the BSE 250 SmallCap Index adding 0.51%. Market breadth remained robust with 2,365 shares rising and 1,511 shares falling on the BSE, while 209 shares remained unchanged. The Nifty traded above the 24,050 level during the session.
The Nifty IT Index rallied 0.90% to 28,824.60, extending gains for the third consecutive trading session with a total climb of 3.7% over the three-day period. Key performers included Infosys (up 1.34%), Tech Mahindra (up 1.33%), Wipro (up 1.11%), Tata Consultancy Services (up 0.97%), Mphasis (up 0.54%), HCL Technologies (up 0.47%), Persistent Systems (up 0.45%), Coforge (up 0.17%), LTM (up 0.02%). The sustained rally in IT shares demonstrates continued investor interest in the technology sector amid improved market sentiment and strategic corporate developments.
Infosys rose 1.09% to ₹1,156.10 after the company announced a strategic, long-term collaboration with Valmet, a global technology leader serving process industries. The company will deploy its AI-powered Infosys Topaz Fabric to embed intelligence across IT operations and modernize Valmet's core IT services. Power Grid Corporation of India emerged as the successful bidder for the WR-ER Inter-Regional Network Expansion Scheme Part-A project, involving the establishment of two new 765/400 kV substations in Jharkhand and Chhattisgarh. Bandhan Bank declined 1.21% after the bank announced that its board has approved the proposal for sale of identified non-performing assets (NPA) that have principal outstanding amounting to ₹303.74 crore to asset reconstruction companies.
India's southwest monsoon has stalled after reaching Kerala, leaving the country with a rainfall deficit of 35% as of 16 June. The shortfall is most severe in central India (63%) and eastern and northeastern regions (43%), while the monsoon has yet to reach Mumbai, more than a week after its normal arrival date. The India Meteorological Department (IMD) expects the current slowdown to persist for another five to six days due to unfavorable weather conditions. Prime Minister Narendra Modi addressed the G7 Summit in Evian, France, emphasizing the need for international partnerships in an interconnected world. The meeting between Modi and U.S. President Donald Trump remains a key development being closely watched.
In the foreign exchange market, the rupee edged higher against the dollar, with the partially convertible rupee hovering at 94.4350 compared with its close of 94.6000 during the previous trading session. Global markets showed mixed performance as most Asian markets traded lower ahead of the U.S. Federal Reserve's interest rate decision. Brent crude for August 2026 settlement fell 53 cents or 0.67% to $78.43 a barrel. Overnight on Wall Street, the Dow Jones Industrial Average rose to a record high with a 328.64 points gain to 51,999.67, while the S&P 500 fell 0.57% and the Nasdaq Composite pulled back 1.15%.
