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The domestic equity benchmarks traded with moderate gains in the afternoon trade, driven by strong performance in IT stocks. The upward momentum continued as U.S. Federal Reserve Chair Jerome Powell signaled a potential interest rate cut next month. Investors will monitor the upcoming manufacturing PMI, services PMI and composite PMI values scheduled for later this week. The Nifty hovered above the 24,950 mark.

Barring media all the sectoral indices on the NSE were traded in green with IT, realty and consumer durable shares leading the rally.

At 13:25 IST, the barometer index, the S&P BSE Sensex, advanced 406.31 points or 0.51% to 81,721.86. The Nifty 50 index gained 123.90 points or 0.49% to 24,992.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.34% and the S&P BSE Small-Cap index added 0.21%.

The market breadth was positive. On the BSE, 2,034 shares rose and 2,046 shares fell. A total of 212 shares were unchanged.

Gainers & Losers:

Infosys (up 3.31%), Tata Consultancy Services (TCS) (up 3.06%), HCL Technologies (up 2.70%), Wipro (up 2.44%) and Indusind Bank (up 1.81%) were the major Nifty50 gainers.

Asian Paints (down 0.89%), Apollo Hospitals Enterprise (down 0.83%), Nestle India (down 0.83%), Adani Enterprises (down 0.41%) and Bharat Electronics (BEL) (down 0.40%) were the major Nifty50 Losers.

Stocks in Spotlight:

Bajaj Auto rose 0.66%. The company said that the supplies of its electric scooter, Chetak, have resumed across all dealerships, after overcoming constraints caused by global rare earth magnet availability. The company has managed to restore production ahead of schedule and production and shipments recommenced as of August 20.

Markolines Pavement Technologies gained 2.27% after the company has secured a significant contract worth approximately Rs 100 crore for the operation and production of patch repair work in the state of Andhra Pradesh. The contract has been awarded by a domestic entity, and the nature of work involves long-term maintenance and repair operations over a span of 5 years.

Signpost India rallied 3.31% after the company has secured the exclusive advertising rights for all the 67 key metro stations operated by Bangalore Metro Rail Project (BMRCL), with an expected revenue potential of Rs 600 to Rs 700 crore. The contract will remain in effect for nine years, until 2034.

Yes Bank gained 1.40% after the Reserve Bank of India approved Sumitomo Mitsui Banking Corporation's plan to acquire up to 24.99% stake and voting rights in the lender. The Japanese banking giant had earlier proposed a 20% acquisition, including a 13.19% stake purchase from State Bank of India and 6.81% from seven other shareholders such as Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Federal Bank, Bandhan Bank, and IDFC First Bank.

Coal India advanced 1.64% after the company signed a non-binding memorandum of understanding (MoU) with the Government of Madhya Pradesh (through the Directorate of Geology and Mining) and the Madhya Pradesh State Mining Corporation.

Godrej Properties rose 1.64% after the company announced sales of over Rs 1,000 crore at its newly launched Godrej Regal Pavilion in Rajendra Nagar, Hyderabad. The project sold 683 homes spanning 1.2 million sq ft since its August 2025 launch. With a total development potential of 4.14 million sq ft and revenue potential of Rs 3,600 crore.

Global Markets:

Markets in Europe opened lower as investors awaited for the release of key inflation data from France, Germany, Italy and other key European countries on Friday. Market participants are also eyeing key earnings announcement from Europe and beyond, with drinks maker Pernod Ricard and tech giant Nvidia among the companies scheduled to report.

Markets in Asia advanced across the board on Monday after Federal Reserve Chair Jerome Powell signaled that the central bank could begin easing monetary policy next month.

These comments were made by the US Fed Chair at his widely anticipated annual speech in Jackson Hole, Wyoming.

In a tepid speech at the central bank's annual conclave in Jackson Hole, Wyo., Powell said that 'the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.'

The Fed chief added that the balance of risks appear to be shifting' between the central bank's dual mandate of full employment and stable prices. He cited 'sweeping changes' in tax, trade and immigration policies.

On Friday, the Dow Jones Industrial Average rallied to an all-time high Friday after Federal Reserve Chair Jerome Powell signaled the central bank could begin easing monetary policy next month.

The Dow climbed 846.24 points, or 1.89%, reaching a fresh high and closing at a record level of 45,631.74. The S&P 500 rose 1.52% to end at 6,466.91. At its session high, the broad market index came within three points of its record. The Nasdaq Composite gained 1.88% and settled at 21,496.53.