Sensex jumped 523.64 points or 0.41% to 77,432.85 while Nifty 50 rose 136.55 points or 0.57% to 24,213.10, with the broader market showing strong momentum across all segments. According to Business Standard, BSE 150 MidCap Index added 0.81% and BSE 250 SmallCap Index rose 0.81%, indicating broad-based participation in the rally. The market breadth remained positive with 2,495 shares rising and 1,584 shares falling on the BSE, while 251 shares remained unchanged. Derivatives market showed the NSE's India VIX falling 6.18% to 10.62, indicating reduced volatility expectations, and Nifty 25 August 2026 futures were trading at 24,290, at a premium of 76.9 points compared to the spot price.
The Nifty Media index emerged as the top performer, adding 1.62% to 1,613.40, recovering from a 0.91% decline in the previous trading session. As per Business Standard, Zee Entertainment Enterprises surged 4.23%, Network 18 Media & Investments gained 1.53%, Prime Focus rose 1.47%, Saregama India advanced 1.33%, and PVR Inox added 1.09%. Other notable gainers included D B Corp (up 0.79%) and Nazara Technologies (up 0.55%). The strong performance in media stocks contributed significantly to the overall market rally, with the sector showing resilience after recent volatility.
United Spirits shares gained more than a percent after the Food Safety and Standards Authority of India (FSSAI) revoked its order dated June 29, 2026, in relation to the sale of one of the products manufactured at the company's Baramati unit. As per Moneycontrol, this regulatory development provided positive momentum for the spirits company's stock performance. United Spirits was quoting at ₹1,543.90, up ₹23.90, or 1.57%, touching an intraday high of ₹1,546.60 and an intraday low of ₹1,520.00. The stock traded with volumes of 4,447 shares, compared to its five-day average of 85,686 shares, indicating a 94.81% decrease in trading volume.
Glenmark Pharmaceuticals shares added nearly 1% following the USFDA approval for Fluticasone Propionate Nasal Spray USP, 0.05 mg/spray. As reported by Moneycontrol, the approval makes the product bioequivalent and therapeutically equivalent to the reference listed drug, Flonase Nasal Spray, 0.05 mg/spray of Haleon US Holdings LLC [NDA 020121]. The product will be distributed in the U.S. by Glenmark Pharmaceuticals Inc., USA, providing a positive catalyst for the pharmaceutical company's stock.
LIC has received RBI approval to increase its holding in HDFC Bank from 4% to 10%, a significant development that could allow the insurance giant to increase its exposure to one of India's largest private-sector banks. According to latest reports, this regulatory approval opens the door for LIC to significantly expand its stake in HDFC Bank, with investors closely watching future share purchases and their impact on the bank's shareholder structure. The development highlights continued regulatory support for strategic stake increases in major financial institutions.
Navi has reportedly raised $100 million from Prosus ahead of a potential FY27 IPO filing, a significant funding round that could support the company's expansion while strengthening its financial position ahead of a possible public-market debut. The primary market continues to attract strong investor interest, with the strong subscription numbers highlighting continued retail and institutional interest in selected primary-market opportunities. This funding round positions Navi favorably for its potential public offering, providing the necessary capital for growth initiatives and market preparation.
