The headline equity benchmarks traded with modest gains in early afternoon trade, tracking positive global cues. Upbeat domestic CPI data further boosted market sentiment. Investors are closely watching the ongoing earnings season, FII activity, and key macroeconomic data releases expected later this week.

The Nifty traded above the 24,600 level. Pharma shares extended gains for the third trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex advanced 226.02 points or 0.28% to 80,461.48. The Nifty 50 index added 108.40 points or 0.44% to 24,607.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.51% and the S&P BSE Small-Cap index added 0.41%.

The market breadth was positive. On the BSE 2,068 shares rose and 1,800 shares fell. A total of 199 shares were unchanged.

Economy:

India's retail inflation, measured by the Consumer Price Index (CPI), eased to 1.55% in July, down 55 basis points from 2.10% in June, according to data from the Ministry of Statistics & Programme Implementation. This marks the lowest year-on-year inflation rate since June 2017.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.02% to 12.22. The Nifty 28 August 2025 futures were trading at 24,662.60 at a premium of 55.05 points as compared with the spot at 24,607.55.

The Nifty option chain for the 28 August 2025 expiry showed a maximum call OI of 68 lakh contracts at the 25,000 strike price. Maximum put OI of 42.7 lakh contracts was seen at 24,000 strike price.

Buzzing Index:

The Nifty Pharma index rose 1.34% to 22,045.35. The index added 3% in the three trading session.

Alkem Laboratories (up 4.44%), Abbott India (up 2.75%), Laurus Labs (up 2.25%), Granules India (up 1.85%) and Zydus Lifesciences (up 1.66%), Divis Laboratories (up 1.53%), Cipla (up 1.36%), Dr Reddys Laboratories (up 1.12%), Lupin (up 0.98%) and Natco Pharma (up 0.71%) added.

On the other hand, Ipca Laboratories (down 2.08%), Ajanta Pharma (down 1.34%) and Torrent Pharmaceuticals (down 0.54%) edged lower.

Stocks in Spotlight:

ACME Solar Holdings shed 0.93%. The company announced that its wholly owned subsidiary, ACME Hybrid Urja has secured Rs 3,184 crore in long-term financing from REC for a 280 MW Firm & Dispatchable Renewable Energy (FDRE) project contracted with NHPC.

Cochin Shipyard rose 0.47%. The company reported a 7.8% rise in consolidated net profit to Rs 187.83 crore on a 38.5% increase in revenue from operations to Rs 1,068.59 crore in Q1 FY26 over Q1 FY25.

FSN E-Commerce Ventures jumped 7.15% after the company reported 79% rise in net profit to Rs 24 crore on a 23% increase in revenue from operations to Rs 2,155 crore in Q1 FY26 as compared with Q1 FY25.

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