INDICES TRADE WITH MAJOR GAINS; PSU BANK SHARES IN DEMAND

Published on Jun 12, 2026 11:33

The domestic equity benchmarks traded with major gains in mid-morning trade, tracking a rally in global markets after easing geopolitical tensions in West Asia boosted investor sentiment and sparked broad-based buying across sectors. Nifty traded above the 23,350 mark. PSU bank shares advanced after declining over the previous two trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 764.71 points or 1.04% to 74,597.26. The Nifty 50 index rose 194.50 points or 0.84% to 23,356.10.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index gained 1.21% and the BSE 250 SmallCap Index added 1.65%.

The market breadth was strong. On the BSE, 2,912 shares rose and 938 shares fell. A total of 191 shares were unchanged.

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, declined 4.56% to 14.90.

Buzzing Index:

The Nifty PSU Bank index rose 2.06% to 8,475.05. The index declined 2.28% in the past two trading sessions.

Bank of Maharashtra (up 3.36%), Bank of Baroda (up 2.99%), Union Bank of India (up 2.97%), Bank of India (up 2.54%), UCO Bank (up 2.23%), Central Bank of India (up 1.92%), Indian Overseas Bank (up 1.85%), Indian Bank (up 1.7%), State Bank of India (up 1.21%) and Punjab & Sind Bank (up 1.03%) jumped.

Stocks in Spotlight:

Gujarat Inject Kerala jumped 4.97% after the company announced that it had secured a purchase order worth Rs 14.49 crore from Deon Energy for the supply of 16,129 units of 620 WP solar panels.

Dabur India rose 0.41%. The company said the United States Food and Drug Administration (USFDA) issued Import Alert 66-40 for drugs made at part of its Silvassa facility after an inspection flagged data integrity and maintenance deficiencies.

Global Markets:

Asian markets advanced on Friday after President Donald Trump signaling that the U.S. and Iran could soon sign a peace deal.

Trump on Thursday told reporters in the Oval Office that a deal between the U.S. and Iran would have a �signing soon, and the documents are in pretty final shape. It should be done and it should be done pretty quickly.� The president added that under the deal, �Iran will never have a nuclear weapon.�

Equities had rallied earlier in the day, after Trump said in a Truth Social post that he had called off the strikes on Iran originally planned for Thursday evening.

Now all eyes will be watching SpaceX, Elon Musk�s rocket maker, as it debuts on the Nasdaq. SpaceX, set to go public under the ticker symbol SPCX, has set a fixed price of $135 per share, which would put its valuation at $1.77 trillion.

The company plans to sell 555.6 million shares, amounting to a $75 billion fundraise that would be the largest initial public offering in history. It�s more than triple the size of Alibaba�s $22 billion offering in 2014, currently the biggest U.S. IPO to date.

Overnight on Wall Street, U.S. equities gained on Thursday, boosted by a rebound in chip stocks, after President Donald Trump called off the strikes on Iran scheduled for this evening and said the U.S. is going to soon sign a deal with the country.

The S&P 500 gained 1.75% to close at 7,394.30, while the Nasdaq Composite added 2.54% to 25,809.66. The Dow Jones Industrial Average rose 929.97 points, or 1.86%, and settled at 50,848.75.