Equity

At 11:30 IST, the barometer index, the S&P BSE Sensex declined 38.11 points or 0.05% to 76,977.96. The Nifty 50 index jumped 16.90 points or 0.07% to 24,051.70.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.97% and the BSE 250 SmallCap Index rose 0.84%.

The market breadth was strong. On the BSE, 2,425 shares rose and 1,557 shares fell. A total of 204 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.18% to 17.70.

Economy:

HSBC India Services PMI Business Activity Index rose from 57.5 in March to 58.8 in April, showing the strongest rate of expansion since last November. Indian services companies welcomed a recovery in growth of both output and new order intakes during April. In addition to increased e-commerce and greater underlying demand, firms indicated that a shift from international to domestic suppliers amid the war in the Middle East particularly boosted transport activity.

The HSBC India Composite PMI Output Index was up from 57.0 to 58.2, signalling a historically strong rate of expansion.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.30% to 18.36. The Nifty 26 May 2026 futures were trading at 24,145, at a premium of 93.3 points as compared with the spot at 24,051.70.

The Nifty option chain for the 26 May 2026 expiry showed a maximum call OI of 55.7 lakh contracts at the 25,000 strike price. A maximum put OI of 43 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty Realty index rose 0.94% to 808.80. The index declined 1.41% in the past trading session.

Anant Raj (up 3.93%), Aditya Birla Real Estate (up 2.55%), Lodha Developers (up 1.99%), Godrej Properties (up 1.18%), Brigade Enterprises (up 1.12%), Phoenix Mills (up 0.99%), Prestige Estates Projects (up 0.57%), and DLF (up 0.13%).

Stocks in Spotlight:

Caplin Point Laboratories rose 4% after its subsidiary Caplin Steriles received final USFDA approval for its Abbreviated New Drug Application (ANDA) for Calcium Gluconate Injection USP (100 mg/mL in 10 mL, 50 mL and 100 mL vials).

SRF jumped 7.71% after the company reported a 10.6% surge in consolidated net profit to Rs 582.02 crore in Q4 FY26, compared with Rs 526.06 crore in Q4 FY25. Total revenue from operations rose 7% year on year (YoY) to Rs 4,615.17 crore in the quarter ended 31 March 2026.

Zydus Lifesciences rose 2.71% after the company said the US Food and Drug Administration completed a GMP surveillance inspection at its biologics injectable manufacturing facility in Ahmedabad.

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