- Sensex fell 588.90 points (0.74%) to 79,212.53
- Nifty dropped 207.35 points (0.86%) to 24,039.35
The broader market pain was even more pronounced:
- Nifty Midcap 100 and Smallcap 100 both lost 2.5% each
- Market breadth was sharply negative: 682 advancing stocks vs 3,138 declining stocks.
Impact on the stock market
- Nifty Auto, Pharma, Metal, Energy, Oil & Gas, Realty, and Infra all fell between 1.5% to 2%
- Nifty PSU Bank was also hit, reflecting the broader concerns
- Nifty IT emerged as the only gainer, up 0.72%, with top contributions from TCS, Infosys, Persistent Systems, and Coforge
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| Sector/Index | Performance |
| IT & BPM sector | 0.72% |
| Healthcare sector | -2.42% |
| Oil & Gas sector | -1.43% |
| Real estate sector | -2.24% |
| PSU Bank in India | -2.24% |
Top gainers today
| Company | Price (in Rs) | Change % |
| SBI Life Insura Share price | 1,695.10 | 5.40 |
| TCS Share price | 3,448.00 | 1.36 |
| Tech Mahindra Share price | 1,462.00 | 1.16 |
| UltraTechCement Share price | 12,237.00 | 0.64 |
| Infosys Share price | 1,480.20 | 0.60 |
Top losers today
| Company | Price (in Rs) | Change % |
| Shriram Finance Share Price | 655.20 | -5.95 |
| Adani Enterpris Share Price | 2,354.30 | -3.61 |
| Adani Ports Share Price | 1,193.00 | -3.51 |
| Axis Bank Share Price | 1,166.30 | -3.38 |
| Trent Share Price | 5,145.00 | -3.35 |
Market aftermath: Impact on stocks
Axis Bank fell over 4% on Q4 results
Despite reporting a strong Q4 net profit of ₹7,118 crore, Axis Bank shares fell over 4%. Why?
- Net interest income rose only 5.5%, and guidance on loan growth was muted
- Gross NPA dropped to 1.28%, and net NPA fell to 0.33%
- However, concerns remain over:
- Weak loan growth vs larger peers
- Rising credit costs in FY26
- Conservative outlook from management
- Weak loan growth vs larger peers
While many brokerages (including ICICI Securities and Nuvama) maintain a buy call with targets of ₹1,400, the near-term outlook appears subdued.
Hindustan Zinc: A bright spot with record profit
Hindustan Zinc bucked the broader trend, reporting its highest-ever Q4 net profit of ₹3,003 crore, a 47% YoY increase.
- Revenue rose 20% YoY to ₹9,087 crore
- Operating margin expanded to 42%
- EBITDA margin stood at a stellar 53%
- The firm achieved record metal production in FY25:
- 1,095 kt mined metal
- 1,052 kt refined metal
- 1,095 kt mined metal
The management credited digital automation and AI integration for the gains and reaffirmed its commitment to green energy through partnerships like Serentica.
Maruti Suzuki: Margins shrink despite revenue growth
India’s top carmaker Maruti Suzuki, saw a 4.3% YoY decline in Q4 profit, missing analyst expectations.
- Net profit: ₹3,711 crore
- Revenue: ₹40,674 crore, up 6.4% YoY
- EBITDA: Down 9% YoY to ₹4,264 crore
- EBITDA margin: Down from 12.3% to 10.5%
Higher ad spends and increased discounting during Q4 are being blamed for the margin compression. As a result, the stock traded over 1% lower at ₹11,771.
Despite the weak margin print, Maruti declared a final dividend of ₹135/share, maintaining its long-term investor-friendly stance.
Global cues: Crude oil climbs but heads for weekly loss
Crude oil prices edged up in early Friday trading, aided by Russia-Ukraine tensions, but are set to finish the week lower overall.
- June Brent: Up 0.65% to $66.98
- June WTI: Up 0.70% to $63.23
- MCX Crude (May): ₹5,401, up 0.39%
Geopolitical conflict supported prices temporarily, but:
- Reports of OPEC+ increasing output
- Trade war concerns between the US and China kept the pressure on. The market is hoping for ceasefire progress, which could improve global oil supply and calm energy markets.
Conclusion:
The Indian stock market is clearly at a crossroads. On one hand, strong FII inflows and positive global cues like a potential India-US trade deal offer support. On the other hand, mixed earnings, elevated valuations, and global tensions are dragging sentiment.
Stocks like Hindustan Zinc continue to outperform on strong fundamentals, while names like Axis Bank and Maruti show that even good results aren’t enough if guidance disappoints.
For more stock market insights, check out the StockGro blog.
