| The domestic equity benchmarks traded with major gains in the mid- afternoon trade, tracking a global market rally amid hopes of easing Middle East tensions involving Iran. Sentiment improved after Donald Trump said the conflict could end within three weeks, while Iran signaled willingness to resolve the crisis. The positive geopolitical cues boosted investor confidence across regions. Meanwhile, the U.S. dollar remained under pressure and Treasury prices continued to rise. Additionally, the start of a new month, quarter, financial year, and F&O series supported fresh market positioning. The Nifty traded above the 22,700 level. Pharma shares extended losses for third consecutive trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex, surged 1,352.22 points or 1.88% to 73,288.82. The Nifty 50 index zoomed 397.60 points or 1.78% to 22,729. The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 2.44% and the BSE 250 SmallCap Index jumped 3.53%. The market breadth was strong. On the BSE, 3,800 shares rose and 465 shares fell. A total of 120 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 10.51% to 24.96. Buzzing Index: The Nifty Pharma index fell 1.02% to 22,004.90. The index tanked 2.97% in the three trading session. Ipca Laboratories (down 4.77%), J B Chemicals & Pharmaceuticals (down 3.22%), Dr Reddys Laboratories (down 2.86%), Torrent Pharmaceuticals (down 2.53%), Cipla (down 2.21%), Sun Pharmaceutical Industries (down 1.95%), Lupin (down 1.76%), Alkem Laboratories (down 1.4%), Glenmark Pharmaceuticals (down 1.25%) and Divis Laboratories (down 1.12%) declined. On the other hand, Wockhardt (up 7.95%), Laurus Labs (up 3.99%) and Piramal Pharma (up 3.96%) added. Numbers to Track: In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.7000 compared with its close of 94.8525 during the previous trading session. MCX Gold futures for 5 June 2026 settlement rose 1.02% to Rs 152,296. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.46% to 99.43. The United States 10-year bond yield fell 0.95% to 4.270. In the commodities market, Brent crude for June 2026 settlement declined $2.24 or 2.15% to $101.73 a barrel. Stocks in Spotlight: Tata Motors added 2.64% after the company's total commercial vehicle (CV) sales jumped 17% to 47,976 units in March 2026 compared with 41,122 units sold in March 2025. Eicher Motors jumped 4.03% after the company's unlisted subsidiary, VE Commercial Vehicles (VECV), reported a 10.1% year-on-year rise in commercial vehicle (CV) sales to 13,311 units in March 2026. Marksans Pharma soared 7.92% after the company has received final approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Benzonatate Capsules USP, 100 mg and 200 mg. |