As per provisional closing, the barometer index, the S&P BSE Sensex gained 145.52 points or 0.18% to 80,664.86. The Nifty 50 index added 84.55 points or 0.35% to 24,586.70.

The Nifty 50 index index hit a fresh all-time high of Rs 24,635.05 in afternoon trade.

In the broader market, the S&P BSE Mid-Cap index gained 0.95% and the S&P BSE Small-Cap index added 0.21%. The BSE Mid-Cap index hit a record high of 47,981.01 today.

The market breadth was positive. On the BSE, 2,039 shares rose and 2,001 shares fell. A total of 128 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.36% to 14.19.

Economy:

The annual rate of inflation based on all India Wholesale Price Index (WPI) number came in at 3.36% (Provisional) for the month of June, as compared with 2.61% in the previous month of May 2024, according to the latest official data.

Positive rate of inflation in June, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc. The month over month change in WPI for the month of June, 2024 stood at 0.39% as compared to May, 2024.

Buzzing Index:

The Nifty PSU Bank index jumped 3.07% to 7,423.85. The index declined 0.53% in the past trading session..

Indian Overseas Bank (up 7.43%), Bank of Maharashtra (up 5.72%), Punjab & Sind Bank (up 4.72%), Canara Bank (up 4.05%), UCO Bank (up 3.71%), Central Bank of India (up 3.68%), Indian Bank (up 3.3%), Bank of Baroda (up 3.27%), Punjab National Bank (up 2.79%) and Bank of India (up 2.74%) advanced.

Bank of Maharashtra rallied 5.72% after the bank's standalone net profit jumped 46.64% to Rs 1,293.49 crore on 24.93% increased in total income to Rs 6,768.76 crore in Q1 FY25 over Q1 FY24.

Stocks in Spotlight:

HCL Technologies (HCL Tech) added 0.49%. The company reported 6.8% rise in consolidated net profit to Rs 4,257 crore in Q1 FY25 from Rs 3,986 crore in Q4 FY24. Revenue from operations declined 1.6% to Rs 28,057 crore in the first quarter of FY25 from Rs 28,499 crore recorded in the last quarter of FY24. The coampny declared dividend of Rs 12 per share.

Indian Renewable Energy Development of India (IREDA) advanced 2.32% after the company reported a 30% increase in consolidated net profit to Rs 383.69 crore in Q1 FY25 as compared with Rs 294.58 crore in Q1 FY24. Revenue from operations increased 32% YoY to Rs 1510.28 crore in Q1 FY25.

Avenue Supermarts (Dmart) rose 0.64%. The company reported a 17.46% increase in consolidated net profit to Rs 773.82 crore in Q1 FY25 as compared with Rs 658.75 crore in Q1 FY24. Revenue from operations increased 18.57% to Rs 14,069.14 crore in Q1 FY25 as compared to Rs 11,865.44 crore posted in Q1 FY24.

5paisa Capital gained 0.51%. The company reported a 38.19% increase in consolidated net profit to Rs 20.08 crore in Q1 FY25 as compared with Rs 14.53 crore posted in Q1 FY24. However, total revenue from operations jumped 20.92% year on year (YoY) to Rs 102.23 crore in the quarter ended 30 June 2024.

Sunteck Realty rallied 4.40%. The company recorded 29.71% increase in pre-sales to Rs 502 crore in Q1 FY25 from Rs 387 crore in Q1 FY24.

Ashok Leyland gained 1.60% after the company announced that it has bagged single largest fully built bus order from the Maharashtra State Road Transport Corporation (MSRTC) for 2,104 units of Viking passenger bus.

Varun Beverages advanced 2.58% after the company said that it has enetered into an exclusive snacks franchising appointment with PepsiCo Inc. to manufacture, distribute, and sell 'Simba Munchiez' in the territory of Zimbabwe & Zambia.

Mahanagar Telephone Nigam (MTNL) jumped 6.85% after it announced that Ravi A Robert Jerard has been appointed as chief managing director (CMD) for a period of six months with effect from 15 July 2024.

Global Markets:

European stocks declined across the board while Asian stocks ended mixed on Monday, as global markets assess the impact of an assassination attempt on former U.S. President Donald Trump.

China's economic growth fell short of expectations in the second quarter, dampening sentiment. The country's GDP expanded by 4.7% year-on-year, slowing from the previous quarter's 5.3%. Additionally, uncertainty surrounding U.S. politics, following an assassination attempt on former President Donald Trump, added to market volatility.

However, losses were tempered by a positive close on Wall Street on Friday, where major indexes approached record highs amid growing expectations of interest rate cuts. Wall Street futures remained modestly positive in Asian trading hours, although the impact of the attempted assassination on the 2024 presidential race remains unclear. Trump is scheduled to be officially nominated as the Republican presidential candidate at this week's party convention

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