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• Equity benchmark indices ended sharply higher, with the Sensex surging over 800 points and the Nifty reclaiming the 24,200 mark, supported by positive global cues, a sharp decline in crude oil prices, easing geopolitical tensions between the US and Iran, and encouraging Q1 performance from TCS and banks, all of which boosted investor sentiment. The Nifty 500 advance-decline ratio stood at 4:1, indicating broad-based buying across the market.

• The Sensex gained 827 points, or 1.08%, to close at 77,569, while the Nifty advanced 244 points, or 1.02%, to settle at 24,206 on account strong quarterly business updates, steady monsoon progress, robust global market performance, lower crude oil prices, and easing geopolitical concerns remained supportive of market sentiment.

• Sectorally, most indices ended in positive territory, with Nifty Realty emerging as the top gainer, rising over 3% following strong quarterly business updates. The Nifty PSU Bank index advanced 3% after Indian Bank reported a robust Q1 business update, with the stock surging 10% to close at ?870. The Nifty IT index gained nearly 2%, led by TCS and Mphasis. Meanwhile, Nifty Metal, Defence, and Oil & Gas indices also ended higher, gaining up to 2%.

• Among the global markets, Asian markets traded higher, while European markets advanced as investors returned to semiconductor stocks on renewed optimism over AI-driven demand, brushing aside the latest flare-up in Middle East tensions.

Technical Outlook:

• Nifty index opened with a gap up of around 160 points and traded in a narrow range throughout the day. Momentum remained subdued after the first hour resulting in a range bound session. It managed to close above 24200 and recouped its mid week losses. It formed a bullish candle on the daily frame while a spinning top candles on the weekly frame. It witnessed a volatile week but continues to form higher highs from the last four weeks. Now it has to hold above 24200 zones for an up move towards 24350 then 24500 levels while on the downside support can be seen at 24050 then 23900 zones.

• S&P BSE Sensex index opened with a gap up of more than 650 points above the crucial 77000 marks and witnessed buying interest in the initial hours of the session. Thereafter the index traded in a narrow range and consolidated throughout the day while sustaining above its key support levels. It closed with most of its gains and formed a small bodied bullish candle on the daily chart and on the weekly chart it formed a Doji sort of a candle with a longer lower shadow suggesting buying is intact at lower levels with a positive undertone in the broader trend. Now it has to hold above 77500 zones for an up move towards 77800 then 78000 zones while on the downside support is seen at 77300 then 77000 levels.

Derivative Outlook:

• Nifty future closed positive with gains of 1.04% at 24250 levels. Positive setup seen in Kalyan, Paytm, CDSL, Bandhan Bank, OFSS, Godrej Properties, Solar Industries, DLF, Lodha and Prestige while weakness seen in Dr. Reddy, Kaynes, Page Industries, VBL, MCX, Coal India, Dmart, ITC and Havells.

• On option front, Maximum Call OI is at 24500 then 24200 strike while Maximum Put OI is at 24100 then 24050 strike. Call writing is seen at 24200 then 24150 strike while Put writing is seen at 24200 then 24150 strike. Option data suggests a broader trading range in between 23800 to 24600 zones while an immediate range between 24000 to 24500 levels.

• NTPC - Company is looking to invest in overseas uranium mines to secure fuel supplies for its planned nuclear power capacity expansion, Bloomberg reported. Company plans to build 30 GW of nuclear power capacity over the next two decades.

• Bank of Maharashtra Q1 Net profit Profit up 26.8% (YoY) At Rs 2,020 crore, Net NPA Flat At 0.13% QoQ. Gross NPA Flat At 1.45% QoQ. NII up14.5% At Rs 3,770 crore. Provisions At Rs 840 crore Vs Rs 617 crore QoQ. Operating Profit up 21.3% At Rs 3,117 crore Vs Rs 2,570 crore YoY. Other Income up 25% At Rs 1,029 crore Vs Rs 825 crore YoY.

• Elecon Engineering - Company reported a 60% decline in consolidated net profit to Rs 70.4 crore from Rs 175 crore a year ago. Revenue rose 6% to Rs 521 crore from Rs 491 crore. EBITDA declined 16.3% to Rs 109 crore from Rs 130 crore last year. EBITDA margin contracted to 21% from 26.6% a year earlier.

• RailTel Corporation - Coampany received an order worth Rs 18.5 crore from the Uttar Pradesh IT Department.

• ION Exchange – Company won orderRs503cr from middle east.

• Premier Explosives Sees Stronger Domestic Growth After Apollo Pact - Premier Explosives said it does not expect any major changes in its management structure following the partnership with Apollo. The company said the partnership is expected to start contributing from FY28. Capacity expansion efforts are currently underway. Management said there are no plans for capital infusion at this stage. Premier Explosives expects better growth in its domestic business from the agreement with Apollo.

Global Market Update

• European Market – European markets are witnessing mixed performance as traders reduced exposure ahead of the weekend, with a fragile truce in the Middle East keeping geopolitical risk in focus. Germany and France Index are trading flat to negative.

• Asian Market – Asian stocks gained on the last trading day of the week as investors returned to semiconductor shares on renewed optimism over AI-driven demand, brushing aside the latest flare- up in Middle East tensions. Japan, South Korea and Hong Kong Index gained up to 2.5%.

• US Data - Federal Budget Balance.

• Commodity - Oil steadied at $76/bbl, as talks between the US and Iran continued despite a flare-up in fighting that drove a steep drop in traffic through the Strait of Hormuz.

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