The Sensex ended the day with a modest gain of 149.85 points, or 0.19%, closing at 79,105.88, while the Nifty 50 remained nearly flat, gaining just 4.75 points, or 0.02%, to settle at 24,143.75.
Despite the choppy session, the IT sector stood out, driven by positive US economic data, which boosted the Nifty IT index by 1.5%.
Major IT players like TCS, HCLTech, and L&T Technology Services led the charge, outperforming other sectors. On the broader market front, the Nifty Midcap 100 and Nifty SmallCap 100 also saw gains of 0.59% and 0.64%, respectively, indicating some resilience in mid and small-cap stocks
Impact on the stock market
Despite the gains in IT, other sectors struggled. Capital goods, healthcare, oil & gas, metals, realty, pharma, and media indices all ended the day down by 0.5% to 1%, reflecting a broader weakness across non-IT sectors.
You may also like: How the 2024 budget will transform economy and stock market – Key Insights!
| Sector/Index | Performance |
| IT & BPM sector | 1.58% |
| Healthcare sector | -0.88% |
| Oil & Gas sector | -0.76% |
| Real estate sector | -0.48% |
| PSU Bank in India | -0.39% |
Top gainers today
| Company | Price | Change (%) |
| TCS Share Price | 4,295.25 | 2.34 |
| HCL Tech Share Price | 1,626.15 | 2.10 |
| Infosys Share Price | 1,823.25 | 1.44 |
| Tech Mahindra Share Price | 1,524.40 | 1.40 |
| BPCL Share Price | 325.05 | 1.04 |
Top losers today
| Company | Price | Change (%) |
| Divis Labs Share Price | 4,662.00 | -4.11 |
| Hero Motocorp Share Price | 5,072.45 | -3.30 |
| Coal India Share Price | 504.70 | -3.27 |
| UltraTechCement Share Price | 11,002.60 | -2.38 |
| ONGC Share Price | 328.15 | -2.31 |
Market aftermath: Impact on stocks
EPL shares skyrocket 14%
EPL Limited, formerly known as Essel Propack, saw its shares skyrocket 14% to reach a multi-year high of ₹ 252.90 on the NSE. The surge was driven by the company’s strong Q1 performance, where adjusted PAT jumped 18% YoY to ₹ 64.2 crore, and consolidated revenue rose 11% YoY to ₹ 1,007 crore.
The company also reported a 17% YoY increase in EBITDA, with margins improving by 90 basis points to 18.4%, particularly in the Americas and Europe. This strong performance helped EPL outperform the benchmark Nifty, which has risen 25% over the past year compared to EPL’s 20% gain.
You may also read: Cipla vs Sun Pharma: Titans of India’s pharmaceutical industry
HEG Ltd plunges 7%
Graphite electrode manufacturer HEG Ltd had a rough day, with its shares falling over 7% after reporting disappointing Q1 earnings. The company’s net profit plummeted 84.43% YoY to ₹ 23.04 crore, while revenue fell 15% to ₹ 571.46 crore.
The sharp decline in profitability was attributed to a 37% increase in other expenses, which significantly impacted EBITDA margins, dropping them to 6.7% from 21% a year ago.
Despite a 500 basis point expansion in gross margins on a sequential basis, the company’s earnings per share (EPS) took a hit, falling to ₹ 5.97 from ₹ 36.05 in the corresponding quarter last year. Additionally, the company announced a stock split in the ratio of 1:5.
Also read : Paytm case study: The dramatic downfall of a fintech pioneer
HAL net profit jumps 77%
Hindustan Aeronautics Ltd (HAL) reported robust Q1 FY25 earnings, with a 77% YoY increase in net profit to ₹ 1,437 crore, driven by a strong performance in its core operations.
The company’s revenue from operations rose by 11% YoY to ₹ 4,348 crore, while total income increased by 18% to ₹ 5,083 crore. Despite a slight increase in expenses, HAL’s EBITDA grew by 13% YoY to ₹ 994 crore.
The company’s stock has delivered exceptional returns over the past year, rising 139.29%, and today’s results further solidify its position as a key player in the defense sector.
You may like: Hindustan Aeronautics & Bharat Electronics: Surge in defence spending
Crude oil price decline
Crude oil futures traded higher today, supported by a decline in US crude oil inventories. Brent oil futures were up by 0.59% at $81.17, while crude oil futures on WTI rose by 0.656% to $78.86.
In India, August crude oil futures were trading at ₹6,624 on the Multi Commodity Exchange (MCX), showing a gain of 0.42% from the previous close. The increase in oil prices was driven by the latest industry data, which showed a reduction in US crude inventories, boosting market sentiment.
Conclusion
Today’s stock market session was characterised by mixed performances across sectors, with IT stocks leading the gains while other areas faced challenges.
EPL Limited’s strong quarterly results and HAL’s impressive earnings stood out, while HEG Ltd struggled with weak Q1 performance.
The positive momentum in crude oil prices also added to the overall market dynamics. As investors digest these developments, they should remain mindful of the broader economic and sectoral trends that could influence future market movements.
Stay tuned on StockGro for more updates on market trends.
