Sensex and Nifty 50 ending the day on a positive note. The Sensex gained 286 points, or 0.35 %, closing at 81,741.34, while the Nifty 50 added 94 points, or 0.38 %, to settle at 24,951.15. This upward momentum was driven by positive global cues following the Bank of Japan’s decision to raise interest rates.
Both midcap and smallcap indices outperformed the benchmarks, continuing their strong performance despite concerns over high valuations. The BSE Midcap index rose 0.27 %, while the Smallcap index climbed 0.88 %, indicating robust investor interest in these segments.
Impact on the stock market
Sectoral indices, Nifty Metal emerged as the top performer, rising over a %. This surge was driven by a sharp spike in JSW Steel, Hindalco, and Tata Steel stocks. The Healthcare index also saw a notable increase, climbing nearly one %.
On the other hand, Realty stocks experienced profit booking after a sharp rally over the last two sessions. PSU Banks also fell, with significant declines in Punjab National Bank and Bank of Baroda.
You may also like: How the 2024 budget will transform economy and stock market – Key Insights!
| Sector/Index | Performance |
| IT & BPM sector | +0.21% |
| Healthcare sector | +0.95% |
| Oil & Gas sector | +0.02% |
| Real estate sector | -0.37% |
| PSU Bank in India | -0.43% |
Top gainers today
| Company | Price | Change (%) |
| Maruti Suzuki Share Price | 13,375.00 | +3.89 |
| JSW Steel Share Price | 933.00 | +3.43 |
| HDFC Life Share Price | 716.75 | +2.80 |
| Asian Paints Share Price | 3,087.30 | +2.74 |
| NTPC Share Price | 415.85 | +2.19 |
Top losers today
| Company | Price | Change (%) |
| Britannia Share Price | 5,784.45 | -0.99 |
| Dr Reddys Labs Share Price | 6,750.50 | -0.79 |
| Grasim Share Price | 2,776.75 | -0.51 |
| Reliance Share Price | 3,010.85 | -0.51 |
| TATA Cons. Prod Share Price | 1,188.95 | -0.50 |
Market aftermath: Impact on stocks
ACGL soars 20% to new high on robust Q1 results
Shares of ACGL surged by 20 % to ₹ 2,861 per share, hitting an upper circuit limit and setting a new all-time high.
The company’s robust Q1FY25 results drove this surge. ACGL reported a 77 % year-on-year increase in profit to ₹ 17.9 crore, compared to ₹ 10.1 crore in the same period last year. Additionally, total income from operations rose 34.7 % year-on-year to ₹ 203 crore from ₹ 151 crore in Q1FY24.
The strong financial performance and optimistic outlook have contributed to the stock more than doubling in value this year, reflecting investor confidence in the company’s growth trajectory.
You may also read: City Union Bank Q1 Results FY25
M&M Q1 net falls to ₹ 2,613 crore; SUV market share up
Shares of M&M saw a mixed reaction despite reporting a marginal decline in standalone net profit for Q1FY25. The stock experienced some volatility but managed to hold steady due to positive revenue growth.
M&M’s standalone net profit fell 5.3 % year-on-year to ₹ 2,613 crore from ₹ 2,759 crore. However, the company’s revenue from operations rose by 10.9 % year-on-year to ₹ 27,038.79 crore from ₹ 24,137.19 crore.
The company’s improved margins at 14.9 % compared to 13.6 % a year ago and growth in the SUV and tractor segments provided a cushion against the profit decline. This performance indicates operational efficiency and market strength in key segments.
Also read : ₹37K crore strategy: Mahindra and Mahindra share surge
Zaggle Prepaid rises 5% to 5-month high on strong Q1 earnings
Shares of Zaggle Prepaid Ocean Services spiked 5.23 % to a five-month high of ₹ 353.5 per share.
The surge followed the announcement of strong Q1FY25 results, with the company reporting a 112.9 % year-on-year increase in revenue to ₹ 252 crore and an 85.3 % growth in adjusted EBITDA to ₹ 25.8 crore.
The positive earnings report and maintained FY25 growth guidance of 45–55 % bolstered investor sentiment. The company’s proactive approach towards exploring inorganic growth opportunities and expanding its product lines further enhanced its market position.
Crude oil price
Crude oil prices rose on Wednesday morning as industry data indicated a decline in US crude oil inventories. October Brent oil futures were up 1.59 % at $79.31, while September WTI crude oil futures increased by 1.62 % to $75.94.
On the Multi Commodity Exchange (MCX), August crude oil futures traded 1.30 % higher at ₹6,374, and September futures rose 1.27 % to ₹6,319.
The upcoming OPEC+ Joint Ministerial Monitoring Committee meeting is also being closely watched for any potential impact on production decisions.
Conclusion
The Indian stock market maintained its positive momentum, closing higher for the fourth session in a row, bolstered by favourable global cues and robust earnings reports from key companies.
As investors eye the US Federal Reserve’s decision, market sentiment remains cautiously optimistic. In the commodities market, crude oil prices rose due to declining US inventories and geopolitical tensions, with further developments expected from the OPEC+ meeting.
Stay tuned on StockGro for more updates on market trends.
