Sensex gained 591 points to end at 81,931.08, and the Nifty 50 rose 0.92%, closing at 25,134.40.After suffering significant losses over the last two weeks, driven by concerns around the Middle East, weakening corporate earnings, and ongoing foreign outflows, today’s rally was a breath of fresh air for traders and investors alike.
The gains were largely led by banking and IT stocks, as both sectors outperformed other indices. Investors have now set their eyes on the impending domestic inflation report, which could potentially offer clues on future policy decisions from the RBI, especially regarding interest rate cuts.
Impact on the stock market
Sectoral indices revealed that 10 out of 13 major sectors ended the day in the green, making for a broad-based rally. Nifty Bank, which had slumped 5% over the last two weeks, saw a 1.3% rise today, largely led by the strong performance of HDFC Bank and ICICI Bank. HDFC Bank, in particular, saw its stock jump by over 2%, playing a key role in pushing Nifty 50 into positive territory.
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| Sector/Index | Performance |
| IT & BPM sector | +1.27% |
| Healthcare sector | +0.63% |
| Oil & Gas sector | -0.14% |
| Real estate sector | +1.61% |
| PSU Bank in India | +0.40% |
Top gainers today
| Company | Price | Change % |
| Cipla Share Price | 1,618.90 | -3.67 |
| Tech Mahindra Share Price | 1,619.70 | -2.36 |
| Trent Share Price | 8,028.85 | -2.34 |
| Sun Pharma Share Price | 1,887.75 | -2.23 |
| Hero Motocorp Share Price | 5,456.10 | -1.77 |
Top losers today
| ONGC Share Price | 286.50 | -2.07 |
| Maruti Suzuki Share Price | 12,537.85 | -1.87 |
| Tata Steel Share Price | 158.32 | -1.46 |
| Bajaj Finance Share Price | 7,208.80 | -1.28 |
| Adani Enterpris Share Price | 3,101.10 | -1.15 |
Market aftermath: Impact on stocks
Hathway Cable’s strong Q2 earnings boost its stock
Hathway Cable & Datacom was another stock that caught the market’s attention today. Its share price soared over 5%, hitting an intraday high of Rs 21.10 after the company posted impressive Q2 FY25 results. Hathway’s profits rose 28.6% year-on-year to Rs 25.8 crore, compared to Rs 20.06 crore in the same quarter last year.
The company’s revenue also saw a 5% increase, pushing its stock up significantly. Given its strong subscriber base and operational efficiency, Hathway remains a major player in the cable and internet distribution market across India.
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Affordable Robotic & Automation zooms on heavy volumes
Another stock that made headlines today was Affordable Robotic & Automation, which surged 19% intraday, hitting a 52-week high of Rs 829. This industrial automation firm has been on a two-day rally, with its stock soaring 31% over the last two days, driven by heavy volumes and investor confidence.
The company, which provides automation solutions for manufacturing and material handling, is now gearing up for a significant shift, as it received approval to migrate its stock from the SME platform to the main board of the National Stock Exchange.
Wockhardt rallies as it inches closer to pneumonia drug approval
In the pharmaceutical sector, Wockhardt saw a sharp rise today, with its shares locking in at a 5% upper circuit. The rally followed news that India’s regulatory body, the Central Drugs Standard Control Organisation (CDSCO), gave a positive recommendation for its novel pneumonia drug, Miqnaf (nafithromycin).
Miqnaf, which targets community-acquired bacterial pneumonia (CABP) in adults, is expected to receive final approval from the Drugs Controller General of India (DCGI) soon. This drug represents a significant breakthrough for the company, which has been developing it for over 15 years.
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Crude oil prices fall amid global concerns
Oil prices saw a sharp drop today, with Brent crude falling by $1.26 per barrel to $77.78 and U.S. West Texas Intermediate down by $1.20 to $74.36 per barrel. The slide was attributed to deflationary concerns in China, where disappointing inflation data weighed on the market, casting doubts about future demand.
Despite ongoing tensions in the Middle East and concerns over potential supply disruptions, the negative news from China took precedence, driving oil prices lower.
Conclusion
Today’s trading session was marked by strong rebounds in the Indian stock market, especially in the banking and IT sectors. The Sensex and Nifty 50 showed resilience after weeks of decline, with key players like HDFC Bank, ICICI Bank, and Wipro leading the charge. Stocks like Hathway Cable, Affordable Robotic & Automation, and Wockhardt added to the market’s optimism with their sector-specific developments.
However, not all sectors followed suit, with Nifty Metal taking a slight hit, and crude oil prices plunging due to concerns over China’s economic health. As investors brace themselves for the upcoming inflation report, the future of interest rates will likely set the tone for the coming days in the Indian stock market.
The market today gave investors plenty to be optimistic about, but caution remains as global and domestic events continue to unfold. Keep an eye on the evolving trends to stay ahead of the curve!
For more stock market insights, check out the StockGro blog.
