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Oil & gas shares jumped after declining in the past trading session.
At 14:28 IST, the barometer index, the S&P BSE Sensex, soared 1,090.76 points or 1.48% to 74,937.91. The Nifty 50 index surged 369.30 points or 1.65% to 22,768.45.
In the broader market, the S&P BSE Mid-Cap index rallied 1.61% and the S&P BSE Small-Cap index surged 2.78%.
The market breadth was strong. On the BSE, 3,053 shares rose and 829 shares fell. A total of 146 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 6.12% to 20.12.
Buzzing Index:
The Nifty Oil & Gas index jumped 1.92% to 10,233.60. The index shed 0.27% in the past trading session.
Gujarat State Petronet (up 5.08%), Oil & Natural Gas Corpn (up 3.87%), Gujarat Gas (up 3.65%), Oil India (up 2.8%), Reliance Industries (up 2.75%), Mahanagar Gas (up 2.34%), Adani Total Gas (up 2.18%), GAIL (India) (up 2.07%), Bharat Petroleum Corporation (up 1.93%) and Castrol India (up 1.12%) advanced.
On the other hand, Aegis Logistics (down 1.18%), Petronet LNG (down 0.66%) and Indraprastha Gas (down 0.35%) edged lower.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was jumped 1.52% to 6.538 as compared with previous close 6.440.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.1100, compared with its close of 86.6800 during the previous trading session.
MCX Gold futures for 5 June 2025 settlement gained 1.65% to Rs 93,535.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 1.56% to 93,440.
The United States 10-year bond yield grew 0.68% to 4.442.
In the commodities market, Brent crude for June 2025 settlement lost 21 cents or 0.33% to $63.12 a barrel.
Stocks in Spotlight:
Rail Vikas Nigam (RVNL) advanced 2.18% after the company emerged as the lowest bidder (L1) for a Rs 143.37 crore Southern Railway project to upgrade the electric traction system in the Salem division from 1x25 kV to 2x25 kV.
Sky Gold and Diamonds hit an upper circuit of 5% after the company secured a recurring export order of 200 kg per month from a reputed jewellery industry client.
Torrent Power added 1.51% after the company announced that its wholly owned subsidiary, Torrent Green (TGEPL) has incorporated a new subsidiary named Torrent Urja Projects (TUPPL) in Ahmedabad, Gujarat.
The total project cost is Rs 143.37 crore, with an expected completion timeline of 24 months.
Rail Vikas Nigam is in the business of executing all types of railway projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, institution buildings, etc.
The company reported a 13.14% decline in consolidated net profit to Rs 311.44 crore in Q3 FY25 as against Rs 358.57 crore posted in Q3 FY24. Revenue from operations fell by 2.60% YoY to Rs 4,567.38 crore in the quarter ended 31 December 2024.