At 13:30 ST, the barometer index, the S&P BSE Sensex, soared 500.44 points or 0.65% to 77,512.65. The Nifty 50 index rose 153.95 points or 0.64% to 24,178.10.

The broader market underperforms frontline indices. The BSE 150 MidCap Index jumped 0.08% and the BSE 250 SmallCap Index fell 0.22%.

The market breadth was negative. On the BSE, 1,767 shares rose and 2,314 shares fell. A total of 203 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.39% to 12.93.

Gainers & Losers:

Maruti Suzuki India (up 4.82%), InterGlobe Aviation (up 4.53%), Max Healthcare Institute (up 4.57%) and Mahindra & Mahindra (up 4.26%) were the major Nifty50 gainers.

Oil & Natural Gas Corporation (down 2.09%), Coal India (down 1.89%), Hindalco Industries (down 1.69%) and Titan Company (down 1.27%) were the major Nifty50 losers.

Stocks in Spotlight:

Sterlite Technologies hit the upper circuit of 5% after the company announced the launch of its qualified institutional placement (QIP) issue and fixed the floor price at Rs 613.69 per equity share.

Standard Engineering Technology (SETL) fell 4.73%. The company's board approved the acquisition of up to a 51% stake in GScale Energy, marking its strategic entry into AI datacenter engineering.

Texmaco Rail & Engineering rose 0.09%. The company received a letter of acceptance (LoA) worth Rs 6.28 crore from Western Railway.

Electrosteel Castings fell 1.46%. The company announced the resumption of its Mini Blast Furnace (MBF) Production Facility at the Khardah Works, West Bengal, from 24th June 2026.

Global Markets:

European stocks opened higher on Thursday, led by gains in technology stocks, as strong forecasts from Micron and Qualcomm assuaged concerns about ballooning valuations in the sector, while easing oil prices provided further support.

Asian markets traded higher after strong earnings and outlooks from chip giants Micron and Qualcomm helped alleviate some concerns over the red-hot AI rally that has pushed global stocks to record highs.

Following the earnings announcement from chip majors, S&P 500 futures and Nasdaq 100 futures climbed 0.5% and 1.9%, respectively. Futures tied to the Dow Jones Industrial Average gained 29 points, or less than 0.1%.

Tech-heavy markets in Japan and South Korea gained in trade after Micron said its customers had committed $22 billion for its memory chips, while Qualcomm stated that it anticipates $15 billion in sales from its data center business by 2029.

Investor concern that valuations for AI-related companies have become stretched following years of gains has weighed on markets in recent days, leading to volatile sessions.

Oil prices extended their decline as stranded tankers exited ⁠the Strait of Hormuz following an initial accord to end the U.S.-Israeli war with Iran, easing supply concerns.

Brent crude futures dipped 0.5% to $73.34 a barrel, inching closer to pre-war levels. U.S. West Texas Intermediate fell 0.38% to $70.07 a barrel.

Easing oil prices may help reduce some inflation pressure, but elevated prices are likely to keep the U.S. Federal Reserve under pressure to raise interest rates, with investors pricing in at least one rate increase this ⁠year.

Overnight on Wall Street, the Nasdaq Composite pulled back on Wednesday as Micron Technology shares fell, with investors looking ahead to the release of the chipmaker's earnings after the bell.

The tech-heavy index slipped 0.43% to end at 25,476.64, while the S&P 500 declined 0.10% to 7,358.22. The Dow Jones Industrial Average added 182.06 points, or 0.35%, to end at 51,848.90.

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