The BSE Sensex added 318.74 points (0.42%), closing at 77,042.82. The index moved in a range between 77,319.50 and 76,895.51 during the day.
The NSE Nifty50 rose 98.60 points (0.42%) to settle at 23,311.80, reaching an intraday high of 23,391.65 and a low of 23,272.05.
Broader market performance
- Nifty Midcap100 and Nifty Smallcap100 outperformed the benchmarks, each rising over 1%.
- The volatility index (India VIX) edged 1.35% higher to 15.17 points, indicating mild fluctuations in market sentiment.
Impact on the stock market
Sectoral Indices: Banking leads the way
- Nifty PSU Bank Index surged 2.55%, with Punjab & Sind Bank and Indian Bank leading gains.
- Bank Nifty climbed 1.08%, while Nifty Private Bank Index was up 0.91%.
- Other gaining sectors: Nifty Financial Services, Metals, and OMCs (up to 2.06%).
- Underperforming sectors: Nifty IT, FMCG, Pharma, and Consumer Durables (down up to 0.56%).
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| Sector/Index | Performance |
| IT & BPM sector | -0.49% |
| Healthcare sector | -0.01% |
| Oil & Gas sector | 0.88% |
| Real estate sector | 0.67% |
| PSU Bank in India | 2.55% |
Top gainers today
| Company | Price | Change % |
| HDFC Life Share Price | 641.40 | 7.94 |
| Bharat Elec Share Price | 276.15 | 3.10 |
| SBI Life Insura Share Price | 1,513.60 | 2.77 |
| Shriram Finance Share Price | 546.80 | 2.55 |
| Adani Ports Share Price | 1,150.75 | 1.94 |
Top losers today
| Company | Price | Change % |
| Trent Share Price | 6,211.55 | -2.80 |
| Dr Reddys Labs Share Price | 1,302.75 | -2.58 |
| TATA Cons. Prod Share Price | 937.70 | -1.87 |
| HCL Tech Share Price | 1,792.25 | -1.83 |
| Wipro Share Price | 288.05 | -1.57 |
Market aftermath: Impact on stocks
Kotak Mahindra Bank fell 3.5%
Kotak Mahindra Bank is expected to report a double-digit profit growth of 12% YoY in Q3FY25, with net interest income (NII) forecasted to increase 9% YoY. Analysts estimate a net profit of ₹ 3,368 crore, compared to ₹ 3,005 crore in Q3FY24.
Despite strong earnings expectations, shares of Kotak Mahindra Bank declined 3.5% in the past quarter amid concerns over potential margin pressures.
Gensol Engineering rallied 7%
Shares of Gensol Engineering jumped 7% to ₹ 782 following the announcement of an agreement with Refex Green Mobility for the transfer of 2,997 electric four-wheelers.
This partnership strengthens India’s push toward sustainable mobility, with Refex eVeelz planning to lease the vehicles to Blu-Smart Mobility for operations in Delhi NCR and Bengaluru.
Bharat Dynamics: Defence order sparks rally
Bharat Dynamics surged 8% to ₹ 1,227.9, following a ₹ 2,960 crore contract with the Ministry of Defence for Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy.
- The contract aligns with India’s Aatmanirbhar Bharat initiative.
- Expected employment generation: 3.5 lakh man-days in the defence sector.
Crude Oil: India’s rush to pay for Russian oil
With upcoming US sanctions on Russian oil set to take effect next month, India’s refiners are accelerating payments to avoid potential disruptions. Key updates:
- Payment settlement time has been reduced from five days to two days.
- 4.4 million barrels of Russian crude are currently en route to Indian ports, including Jamnagar, Chennai, Paradip, and Visakhapatnam.
- Indian banks have stopped processing transactions in US dollars, shifting payments to rubles.
- The Indian government is prioritizing discounted Russian crude to keep inflation in check.
Conclusion
With strong earnings expectations, increased defence spending, and a focus on green energy, the Indian stock market remains bullish. However, IT and pharma stocks remain under pressure.
Investors should watch for upcoming Q3 earnings results, budgetary announcements, and global crude oil developments for further cues.
For more stock market insights, check out the StockGro blog.
