The BSE Sensex opened cautiously, dipping to a low of 73,796 in the opening minutes, down 33 points from the previous close. But sentiment quickly improved, pushing the index to a day’s high of 74,376, before settling at 74,170, up 341 points or 0.46%.
Similarly, the NSE Nifty 50 opened with a 44-point gap-down at 22,353 but turned around swiftly. It touched a high of 22,577 and closed at 22,509, gaining 112 points or 0.5% for the day.
The BSE MidCap index rose 0.8%, while the SmallCap index ended flat. However, market breadth was negative, with 2,500 stocks declining vs 1,617 advancing on the BSE—suggesting the rally was driven by large caps more than the broader market.
Impact on the stock market
Sectoral indices showed mixed movement throughout the day, but overall, the bulls held control. Healthcare, financial services, auto, and metal sectors each gained around 1%, while the power sector saw gains ranging between 0.5% to 1.5%. On the flip side, the realty and media sectors declined by about 0.5% each.
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| Sector/Index | Performance |
| IT & BPM sector | 0.04% |
| Healthcare sector | 1.51% |
| Oil & Gas sector | -0.05% |
| Real estate sector | -0.38% |
| PSU Bank in India | -0.24% |
Top gainers today
| Company | Price | Change % |
| Dr Reddys Labs Share price | 1,150.70 | 3.86 |
| Bajaj Finserv Share price | 1,871.60 | 3.55 |
| SBI Life Insura Share price | 1,434.25 | 3.51 |
| Trent Share price | 5,159.55 | 2.73 |
| Axis Bank Share price | 1,034.15 | 2.37 |
Top losers today
| Company | Price | Change % |
| Wipro Share price | 259.85 | -1.57 |
| Britannia Share price | 4,674.90 | -1.13 |
| BPCL Share price | 261.42 | -1.13 |
| Hero Motocorp Share price | 3,493.10 | -1.02 |
| ITC Share price | 407.95 | -1.00 |
Market aftermath: Impact on stocks
Metal stocks bounce back amid tariff buzz
After two dull sessions, metal stocks saw a sharp rebound on the back of a weaker dollar and chatter around potential safeguard duty on cheaper steel imports into India.
- APL Apollo Tubes surged nearly 3% to ₹1,414, recovering strongly from its 52-week low of ₹1,273 (Feb 17).
- Hindustan Zinc, NMDC, Jindal Stainless, and Adani Enterprises gained up to 2%.
- Jindal Steel moved over 1% higher at ₹900.
- Other major steelmakers like SAIL, Vedanta, JSW Steel, Tata Steel, Hindalco, and Ratnamani Metals also saw marginal gains.
The Nifty Metal Index was up nearly 1%, snapping its two-day fall.
Muthoot Finance: Gold loan assets cross ₹1 lakh crore milestone
Muthoot Finance stole the spotlight by announcing that its gold loan assets have crossed ₹1 trillion, triggering a bullish rally in its stock.
- The share jumped 4.17% to ₹2,288, its highest one-day gain in a month.
- Options activity spiked, with 43,800 call contracts traded, well above the 20-day average of 12,600—showing traders are betting on more upside.
- Meanwhile, put options volume was low, signalling limited bearish bets.
With gold prices on the rise, Muthoot’s core business looks poised for further growth.
HUDCO rises after ₹11,000 crore loan deal with Andhra Pradesh
HUDCO shares surged 3.5%, riding on news of a massive ₹11,000-crore loan agreement with Andhra Pradesh’s Capital Region Development Authority for building the greenfield capital city Amaravati.
- The deal was signed in the presence of CM Chandrababu Naidu.
- At 1:30 pm, HUDCO was trading at ₹188, close to a 3.7% gain.
- This move not only boosts the company’s lending portfolio but also reaffirms its role in major infrastructure development.
HUDCO’s loan assistance could significantly accelerate the capital city’s construction and inject renewed investor interest in the stock.
Crude oil prices rise on China stimulus and Red Sea tensions
Commodity markets also turned active as crude oil prices ticked higher, driven by two major global cues:
- Better-than-expected Chinese economic data:
- Industrial production up 5.9% YoY in Jan–Feb (vs expected 5.3%)
- Retail sales up 4% (vs expected 3.8%)
- China also announced stimulus plans to stabilise stock and property markets and boost consumption.
- Geopolitical tensions in the Red Sea:
- Ongoing US airstrikes on Houthis raised concerns over global shipping routes.
- Red Sea accounts for 15% of global shipping traffic, making any disruption critical to energy flow.
Oil market snapshot:
| Type | Price |
| Brent (May) | $71.10 |
| WTI (May) | $67.40 |
| MCX Crude (March) | ₹5,879 |
| MCX Crude (April) | ₹5,882 |
Commodity traders are closely watching how global tensions and Chinese consumption play out in the coming weeks.
Conclusion
Markets made a sharp recovery today, powered by strength in financials, pharma, auto, and metal stocks. Stock-specific action in Muthoot Finance and HUDCO added spice to the session, while global factors like China’s economic data and oil prices added to the mix.
But despite the green close, the negative market breadth and sectoral divergence suggest caution is still warranted. Mid and small caps showed a decent rebound, but choppiness could return anytime.
So, while today’s rally was a relief after last week’s nervousness, the question remains—is this the start of a sustained uptrend or just a temporary bounce?
Stay tuned for more such share market news and daily insights right here at StockGro.
