The BSE Sensex gained a modest 16.09 points (0.02%) to close at 81,526.14, trading in the range of 81,742.37 to 81,383.42. The NSE Nifty50 performed slightly better, climbing 31.75 points (0.13%) to settle at 24,641.80. Intraday highs and lows for the index were recorded at 24,691.75 and 24,583.85, respectively.
Out of Nifty50’s 50 constituent stocks:
- 26 stocks closed in the green, led by Trent, Bajaj Finance, Britannia, Shriram Finance, and Hero MotoCorp, with gains of up to 2.50%.
- 23 stocks saw a dip, with JSW Steel, Adani Ports, NTPC, State Bank of India, and Axis Bank declining by up to 1.48%.
- IndusInd Bank ended flat, standing out for its steady performance amidst market fluctuations.
The broader markets provided some cheer, with:
- Nifty Midcap100 up by 0.27%.
- Nifty Smallcap100 gaining 0.38%.
Impact on the stock market
Among sectoral indices, the performance was a mixed bag:
- Top gainers included Nifty Auto, FMCG, IT, and Consumer Durables, which showed steady growth.
- Banks and Media indices, however, lagged behind, reflecting cautious investor sentiment in these sectors.
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| Sector/Index | Performance |
| IT & BPM sector | +0.33% |
| Healthcare sector | +0.37% |
| Oil & Gas sector | -0.02% |
| Real estate sector | +0.18% |
| PSU Bank in India | -0.89% |
Top gainers today
| Company | Price | Change % |
| Trent Share Price | 7,063.30 | 2.69 |
| Bajaj Finance Share Price | 7,115.10 | 2.58 |
| Britannia Share Price | 4,889.50 | 2.14 |
| Shriram Finance Share Price | 3,248.25 | 1.94 |
| Bajaj Finserv Share Price | 1,686.50 | 1.39 |
Top losers today
| Company | Price | Change % |
| JSW Steel Share Price | 1,000.20 | -1.26 |
| Adani Ports Share Price | 1,233.80 | -1.20 |
| NTPC Share Price | 365.50 | -0.99 |
| SBI Share Price | 861.60 | -0.68 |
| Axis Bank Share Price | 1,147.25 | -0.55 |
Market aftermath: Impact on stocks
ITI shares witnessed profit-booking
After a spectacular rally over the past three trading sessions, ITI shares saw a sharp decline of 7% as investors booked profits. The stock had surged by 34% recently, hitting a record high of ₹404 on Tuesday. However, the gains left ample room for profit-taking, with the stock trading at ₹363.80 by mid-session on Wednesday.
Despite the drop, ITI has raked in over 24% gains in the last three months, fuelled by robust trading volumes and positive developments around the company, making it a stock to watch.
Asian granito: A new JV sparks an 11% rally
Shares of Asian Granito jumped over 11%, driven by news of a joint venture with Shudh Investments Ltd and Klyn Stone from the UK. The collaboration will create Klyn AGL Ltd, a UK-based trading entity specialising in porcelain slabs, tiles, and quartz products.
The JV includes the issuance of 2.5 lakh shares valued at one euro each, and all stakeholders retain significant decision-making authority. While the stock had been flat year-to-date, today’s surge marked a turning point, reflecting growing investor confidence in its global ambitions.
PNC infratech: 12% surge on early bonus completion
PNC Infratech recorded its largest single-day gain in six months, soaring 12% after the company bagged a ₹4.4 crore bonus for completing a ₹738 crore NHAI project ahead of schedule.
The project involved the four-laning of National Highway-53 in Uttar Pradesh, completed two months before the deadline. By early trade, the stock was at ₹340.75, with trading volumes surging past 69 lakh shares, significantly exceeding the one-month daily average of 10 lakh shares.
PNC Infra’s robust order book, valued at ₹19,909 crore, further highlights its strong market position.
Crude oil: Awaiting key data
Crude oil futures rose modestly as the market awaited critical updates, including:
- US crude oil inventory data, expected later in the day.
- OPEC+ monthly report, likely to provide insights into production and demand trends.
- US Consumer Price Index (CPI) data, which could influence the Federal Reserve’s policy outlook.
As of 9.56 am on Wednesday:
- Brent oil futures for February were up 0.47% at $72.53.
- WTI crude oil futures for January gained 0.51%, trading at $68.94.
- On MCX, December crude oil futures increased 0.21%, trading at ₹5857.
Global factors also played a role, with China’s proposed policy stimulus measures supporting crude prices. The initiatives aim to expand domestic demand and consumption, as reported by Chinese media.
Conclusion
The Indian stock market delivered a cautiously positive session, with the Sensex and Nifty50 posting modest gains. Key highlights included ITI’s profit booking after a stellar rally, Asian Granito’s strong JV-driven performance, and PNC Infratech’s impressive surge on securing an early completion bonus.
While crude oil futures edged higher in anticipation of crucial global data, sectoral indices showed a mixed trend, balancing optimism with pockets of caution.
As markets continue to oscillate between gains and dips, staying informed and keeping a keen eye on broader trends remains crucial for investors navigating these dynamic waters.
For more stock market insights, check out the StockGro blog.
