At 12:30 IST, the barometer index, the S&P BSE Sensex advanced 173.78 points or 0.23% to 76,982.26. The Nifty 50 index jumped 51.10 points or 0.22% to 24,041.75.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index gained 0.46% and the BSE 250 SmallCap Index added 0.44%.

The market breadth was strong. On the BSE 2,318 shares rose and 1,698 shares fell. A total of 189 shares were unchanged.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.3700 compared with its close of 94.6000 during the previous trading session.

In the commodities market, Brent crude for August 2026 settlement fell 52 cents or 0.66% to $78.44 a barrel.

Derivatives :

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.11% to 13.38. The Nifty 30 June 2026 futures were trading at 24,051.50 at a premium of 9.75 points as compared with the spot at 24,041.75.

The Nifty option chain for the 30 June 2026 expiry showed a maximum call OI of 91.1 lakh contracts at the 25,000 strike price. Maximum put OI of 63.3 lakh contracts was seen at a 24,000 strike price.

Monsoon Gap Raises Concerns:

India's southwest monsoon has stalled after reaching Kerala, leaving the country with a rainfall deficit of 35% as of 16 June. The shortfall is most severe in central India (63%) and eastern and northeastern regions (43%), while the monsoon has yet to reach Mumbai, more than a week after its normal arrival date. The delay comes amid growing concerns over a developing El Ni'o, which typically weakens monsoon rains.

The India Meteorological Department (IMD) expects the current slowdown to persist for another five to six days due to unfavorable weather conditions. In response, the Centre has placed 150-200 districts under close monitoring, asked states to prepare crop contingency plans, and warned that a weak monsoon could increase food inflation and pressure agricultural output. Despite the concerns, officials said seed, fertiliser and reservoir stocks remain adequate for now.

G7 Summit:

The Group of Seven (G7) is an annual forum comprising the world's leading advanced economies that discusses key global economic, security, and geopolitical issues. The 2026 G7 Summit is being hosted by France in 'vian-les-Bains from 15 to 17 June.

Prime Minister Narendra Modi yesterday addressed the Outreach Session on ''Forging New Partnerships and Rebuilding International Solidarity', at the G7 Summit in Evian, France.

In his intervention, Prime Minister underlined that, in an interconnected world, where energy, food, health, cyber, and economic security are intertwined, building international partnerships was a necessity for the progress and prosperity of humanity. He further added that, in an uncertain world, trade and technology were being misused for narrow interests, leading to a trust deficit in the international arena.

Among the key developments being closely watched is the meeting between Indian Prime Minister Narendra Modi and U.S. President Donald Trump.

Buzzing Index:

The Nifty PSU Bank index rose 1.10% to 8,657.05. The index declined 0.21% in the previous trading sessions.

Punjab & Sind Bank (up 2.96%), Central Bank of India (up 2.88%), UCO Bank (up 2.43%), Indian Overseas Bank (up 2.41%), Indian Bank (up 1.8%), Bank of Baroda (up 1.4%), Canara Bank (up 1.27%), Punjab National Bank (up 0.63%), Bank of India (up 0.6%) and State Bank of India (up 0.3%) added.

Stocks in Spotlight:

Rajesh Power Services advanced 2.48% after the company secured an order worth Rs 211.68 crore from Odisha Power Transmission Corporation (OPTCL).

Interarch Building Solutions shed 0.58%. The company announced that it has secured an order worth Rs 87 crore from a customer operating in the renewable energy and solar panel industry.

Siyaram Recycling Industries added 1.47% after it has secured an international order worth USD 426,000 from Green Metals FZCO for the supply of brass billets.

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