The Sensex dropped by 151 points (0.18%) to close at 82,201.16, while the Nifty 50 fell by 54 points (0.21%) to settle at 25,145.10. Major drags on the market included heavyweights such as Reliance Industries and Bharti Airtel, pushing the indices down.
Despite the overall decline in the market, midcap and smallcap segments fared well.
Impact on the stock market
Sectors like automobiles and oil and gas struggled, Nifty IT and Nifty Media outperformed, gaining 0.8% and 0.5%, respectively.
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| Sector/Index | Performance |
| IT & BPM sector | +0.46% |
| Healthcare sector | -0.09% |
| Oil & Gas sector | -0.38% |
| Real estate sector | -0.97% |
| PSU Bank in India | +0.32% |
Top gainers today
| Company | Price | Change (%) |
| Titan Company Share Price | 3,722.85 | +3.19 |
| LTIMindtree Share Price | 6,149.30 | +1.29 |
| Wipro Share Price | 524.85 | +1.10 |
| BPCL Share Price | 360.70 | +0.97 |
| ITC Share Price | 511.20 | +0.96 |
Top losers today
| Company | Price | Change (%) |
| Cipla Share Price | 1,627.75 | -1.46 |
| Reliance Share Price | 2,985.95 | -1.42 |
| Dr Reddys Labs Share Price | 6,695.75 | -1.35 |
| Coal India Share Price | 497.00 | -1.32 |
| Britannia Share Price | 5,850.00 | -1.29 |
Market aftermath: Impact on stocks
Chola Finance jumps 4%
Shares of Chola Finance surged by 4%, reaching an all-time high of ₹1,797 following a bullish outlook from Goldman Sachs. The firm issued a ‘buy’ rating, citing an expected EPS CAGR of 33% over FY24-27, driven by robust loan growth and market share gains.
Year-to-date, the stock has already seen over a 20% rise, outperforming the Nifty 50’s 16% growth. Investors are optimistic about Chola’s improving return on assets (RoA) and future profitability, which has added momentum to its stock performance.
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PNB Housing gains 5% on Rs 2,500-crore NCD plan
PNB Housing Finance shares jumped by 5%, reaching an intraday high of ₹1,104.95. The boost in the stock price came after the company announced plans to raise ₹2,500 crore through Non-Convertible Debentures (NCDs) over the next six months.
This development was well-received by the market, further supported by PNB Housing’s strong Q1FY25 performance, where net profit surged by 25% year-on-year. With an ambitious plan to grow its loan book to over ₹1 lakh crore by FY27, the stock continues to attract investor interest.
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Suzlon Energy gains 3%
Suzlon Energy saw a 2.57% rise in its stock price, hitting an intraday high of ₹76.09. The surge followed the company’s announcement of selling its Pune-based corporate office for ₹440 crore to OE Business Park.
The deal also included a lease-back arrangement for up to five years, ensuring continued use of the property. Suzlon’s focus on asset-light operations and reducing debt has resonated well with investors, and this strategic sale adds to the company’s long-term financial restructuring plans.
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Crude oil price decline
Crude oil futures traded slightly higher on Thursday due to a decline in U.S. crude inventories. Brent oil futures rose by 0.33% to $72.94, and crude oil futures increased by 0.30% to $69.41. This inventory decline of 7.4 million barrels was much higher than market expectations and supported prices.
Despite concerns over OPEC+ potentially delaying output increases, crude oil prices stayed positive. This was further impacted by weak economic data, a major consumer of crude oil, which limited the upside potential.
Conclusion
Thursday’s market saw a mixed bag of results, with the Sensex and Nifty 50 dipping slightly due to weakness in heavyweight sectors like oil, gas, and automobiles. However, midcaps and smallcaps continued to shine, and stocks like Chola Finance and PNB Housing posted gains.
Crude oil prices remained steady due to lower U.S. inventories but faced resistance from weaker demand prospects from China. The Indian market may see more fluctuations based on global trends and sectoral performance in the days ahead.
