Sensex rises 500 pts, Nifty above 23,900; Nifty IT gains 2%

The Nifty50 and the Sensex rose as oil prices fell sharply after the US and Iran paused their military strikes.

As of 10:00 AM, the Nifty50 was up 166 points or 0.7 per cent at 23,933.35, and the Sensex rose 572 points or 0.75 per cent to 76,631.29.

InterGlobe Aviation, Tata Consumer Products, and Eternal were the top gainers in the Nifty50 index.

In the broader markets, the Nifty MidCap and the Nifty SmallCap were trading 0.98 per cent and 0.86 per cent higher, respectively.

Sector-wise, the Nifty IT, the Nifty Media, and the Nifty FMCG were the top gainers, while the Nifty Oil & Gas gained the least.

Oil prices declined 7.44 per cent to the day’s low of $89.58 per barrel as the US and Iran paused their military strikes after two straight weeks of hostilities, raising hopes for diplomatic consultation to advance.

The July future contract was quoted at $92.65 per barrel on the Intercontinental Exchange, down 4.27 per cent.

Q1 Results Today

Aeroflex Industries, Aurionpro Solutions, Balaji Amines, Bharat Electronics, Canara Bank, CCL Products (India), Capri Global Capital, Coal India, Coforge, Epigral, Gallantt Ispat, Godfrey Phillips India, Gravita India, Happiest Minds Technologies, Home First Finance Company India, Housing & Urban Development Corporation, Indus Towers, JK Paper, Mold-Tek Packaging, NESCO, Northern Arc Capital, P N Gadgil Jewellers, R R Kabel, Sagar Cements, Supreme Petrochem, Sumitomo Chemical India, Tata Chemicals, Tata Power Company, Tejas Networks, Tilaknagar Industries, Tamilnad Mercantile Bank, Usha Martin

IPO Today

Two SME initial public offers (IPOs) opened for subscription on Monday. Propshop Events & Exhibitions and Advance Technoforge are both book-build IPOs worth ₹28.57 crore and ₹24.03 crore, respectively.

Three mainboard IPOs entered the final day of subscription. These are Xtranet Technologies, Indo-MIM, and Lohia Corp.

Silverstorm Parks & Resorts IPO entered the second day of subscription. The company is seeking to raise ₹82.43 crore from the primary market.