The BSE Sensex ended the day at 75,939.18, slipping 28.21 points (0.04%) after hitting an intraday high of 76,338.58 and a low of 75,581. Meanwhile, the NSE Nifty50 closed at 22,932.90, losing 12.40 points (0.05%), swinging between 23,049.95 and 22,814.85 during the session.
The broader markets, however, performed relatively better. The Nifty Smallcap100 index surged by 2.36%, driven by JBM Auto and Aegis Logistics, while the Nifty Midcap100 gained 1.56%.
Impact on the stock market
Sectoral performance:
Some sectors outperformed, while others saw selling pressure:
- Banking stocks led the gains, with the Nifty Private Bank and PSU Bank indices rising by over 1%, and Bank Nifty adding 0.98%.
- Consumer durables, financial services, metals, media, and realty sectors gained up to 1.67%.
- IT stocks dragged the market lower, with Nifty IT falling by 1.30%, led by losses in Persistent Systems and Coforge.
- Other lagging sectors included auto, healthcare, pharma, and FMCG.
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| Sector/Index | Performance |
| IT & BPM sector | -1.30% |
| Healthcare sector | -0.78% |
| Oil & Gas sector | 0.74% |
| Real estate sector | 1.67% |
| PSU Bank in India | 1.33% |
Top gainers today
| Company | Price | Change % |
| Bharat Elec Share Price | 253.40 | 3.60 |
| Hindalco Share Price | 626.30 | 2.43 |
| Eicher Motors Share Price | 4,810.60 | 1.93 |
| Larsen Share Price | 3,275.90 | 1.73 |
| Axis Bank Share Price | 1,011.35 | 1.73 |
Top losers today
| Company | Price | Change % |
| Dr Reddys Labs Share Price | 1,165.85 | -2.63 |
| TCS Share Price | 3,784.10 | -2.30 |
| Infosys Share Price | 1,810.80 | -2.22 |
| HUL Share Price | 2,250.40 | -1.99 |
| Adani Enterpris Share Price | 2,180.80 | -1.78 |
Market aftermath: Impact on stocks
Bikaji Foods soars 19% despite weak Q3 results
Bikaji Foods stole the spotlight, surging 19% to Rs 677.25 on high trading volumes—its biggest single-day jump in eight months. Over 23 lakh shares changed hands, generating a total volume of Rs 150.23 crore. The stock finally settled at Rs 662.85, still up 17%.
Interestingly, this rally came despite a 39% drop in net profit for Q3 to Rs 28.6 crore from Rs 46.6 crore a year ago. Higher input costs weighed on the company’s earnings, yet the stock witnessed heavy buying.
Also read: Bikaji Foods Shares Tumble on Weak Q3 Performance
Hindalco and Nalco gain on EU sanctions against Russian aluminium
Shares of Hindalco and Nalco jumped up to 4% after the European Union imposed sanctions on Russian aluminium imports as part of its sixteenth sanctions package against Russia.
- Nalco rose 4% to Rs 186.78, while Hindalco climbed 2% to Rs 624.55.
- The EU’s ban could tighten global aluminium supply, benefiting Indian metal producers.
- Additional restrictions on alloy steel products, machine tools, and auto parts added to the bullish sentiment in metal stocks.
You may also read: NALCO Stock rises 5% following strong Q2 Results
JBM Auto jumps 19% on mega eBus order
JBM Auto’s shares soared 19% to Rs 674 after its subsidiary, JBM Ecolife Mobility, secured a Rs 5,500-crore order under the PM eBus Sewa Scheme-II.
The contract involves the procurement, supply, operation, and maintenance of 1,021 electric buses, along with developing allied electric and civil infrastructure. This major order reinforced investor confidence in the company’s growth prospects.
You may also read: JBM Auto Announces Record Date for Stock Split, Shares
Crude oil
Crude oil prices inched higher following supply disruptions in Russia and the US.
- Brent crude for April delivery traded at $75.87/barrel, up 0.04%.
- WTI crude for April delivery was at $71.86/barrel, also up 0.04%.
- In India, MCX crude oil futures for February traded at Rs 6,256, up 0.37%, while March contracts were at Rs 6,263, up 0.26%.
Why is oil moving?
- Drone attacks on Russia’s Caspian Pipeline Consortium (CPC) facilities could reduce Kazakhstan’s oil throughput by 30% for the next 1.5 to 2 months.
- Severe cold weather in the US is estimated to have cut oil production in North Dakota by 150,000 barrels/day.
- Peace talks between the US and Russia in Riyadh sparked speculation that sanctions on Russian oil could be lifted, potentially increasing global supply and capping price gains.
Conclusion
The Indian stock market ended flat on Wednesday, but specific stocks saw big moves. Bikaji Foods surged despite weak earnings, Hindalco and Nalco gained on EU sanctions, and JBM Auto soared after bagging a major government contract. Meanwhile, crude oil prices remained steady amid geopolitical and supply concerns.
While the broader indices stayed range-bound, the rally in smallcaps and midcaps indicated strong market participation. With global uncertainties and sectoral rotations, investors should stay tuned for more action in the coming sessions.
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