Sensex rises 100 pts, Nifty tests 23,600; SMID mixed, Nifty IT gains 2%

The Nifty50 and the Sensex rose amid mixed global cues, as traders await clarity about the US-Iran trade deal in near term.

As of 9:19 AM, the Nifty50 was up 99.65 points or 0.42 per cent at 23,641.75, and the Sensex rose 293.10 points or 0.39 per cent to 75,076.56.

InterGlobe Aviation, Asian Paints, and Infosys were the top gainers in the Nifty50 index.

In the broader markets, the Nifty MidCap was down 0.28 per cent and the Nifty SmallCap rose 0.27 per cent.

Sector-wise, the Nifty IT and the Nifty Media rose, while the Nifty FMCG, Nifty Auto, and the Nifty Healthcare underperformed.

US President Donald Trump said in an interview with Fox News that Washington is seeking a deal with Iran in which Tehran would never acquire nuclear weapons. Although Trump would prefer to reach an agreement quickly, he was unwilling to rush the process.

IPO Today

Merritronix initial public offer (IPO) will open for subscription on Monday. It’s a book-build issue worth ₹70.03 crore, which consists entirely of a fresh issue.

Aureate Tradde IPO will open for subscription on the second day. The company is aiming to raise ₹27.29 crore from the primary market. The issue is ₹70 per share, while the lot size is set at 2,000 shares.