Mid-market update: NIFTY50 crosses 23,600 and SENSEX jumps 800 points; Bank, Auto and Financial services stocks top sectoral gainers

Domestic equity indices added more points in the mid-market session on account of buying by funds and retail investors. Meanwhile, the session was also jubilant for broader indices with BSE Midcap index and the Small-cap index gaining in the range of 0.50-0.85%. Hectic buying in Larsen & Toubro, Tata Motors, Axis Bank, SBI and IndusInd Bank helped the markets to add more points.

Positive cues from the other Asian markets supported domestic sentiments. Sentiments got a boost as the private report said that India's fiscal and monetary policies are now focusing more on supporting economic growth, aligning with expectations of a cyclical recovery. The report highlighted that the Union Budget has maintained the path of fiscal consolidation, though at a slightly faster pace than anticipated.

On the BSE sectoral front, traders were seen piling up positions in Capital Goods, PSU, Industrials, Oil and gas, and Energy, while selling was witnessed in Consumer Discs, FMCG, and Consumer Durables.

On the global front, Asian markets were trading mostly in green after U.S. President Donald Trump paused tariffs on Mexico for a month, while Canada also said the U.S. president had put on hold proposed tariffs on its exports. Back home, NLC India surged after NLC India reported strong Q3FY25 results.

The Sensex traded at 77781.55, up by 594.81 points or 0.77% after trading in a range of 77402.37 and 77951.81. The index had 19 stocks advancing and 12 stocks declining.

The broader indices were trading in green; the BSE Mid cap index was up by 0.81%, while Small cap index up by 0.54%.

The NIFTY50 traded at 23540.75, up by 179.70 points or 0.77% after trading in a range of 23423.15 and 23582.00. The index had 32 stocks advancing and 19 stocks declining.

Asian markets were trading mostly in green; Hang Seng advanced 340.96 points or 1.69% to 20,558.22, Jakarta Composite gained 68.15 points or 0.96% to 7,098.21, KOSPI increased 26.29 points or 1.07% to 2,480.24, Nikkei 225 surged 322.57 points or 0.84% to 38,842.66 and Taiwan Weighted added 71.56 points or 0.32% to 22,766.27. However, Straits Times fell 6.39 points or 0.17% to 3,820.08.