Nifty closed above the 25,000 mark for the first time, gaining 187.40 points or 0.75% to end at 25,010.60. The Sensex also surged, closing 631.90 points higher at 81,718.11.
The overall market saw 2,075 shares advancing, 1,791 declining, and 138 remaining unchanged.
The IT sector followed closely, driven by gains in Tech Mahindra, TCS, and Wipro. Additionally, the Energy sector saw a boost, with Reliance Industries, NTPC, ONGC, and Power Grid Corp contributing to its 1% rise.
The Nifty Metal index emerged as the top gainer, rising over 2%, with Hindalco, Vedanta, JSW Steel, and Tata Steel leading the charge.
Impact on the stock market
The Nifty PSU Bank and Media indices were the only sectoral laggards, down 0.50% and 0.22% respectively. However, all other sectoral indices ended the day with gains.
The Nifty Metal index led the pack, rising 2.16% to become the top gainer among sectoral indices. Nifty Realty, IT, Consumer Durables, and Oil & Gas also posted strong performances, with gains of 1.76%, 1.39%, 1.30%, and 1.16% respectively.
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| Sector/Index | Performance |
| IT & BPM sector | +1.39% |
| Healthcare sector | +0.13% |
| Oil & Gas sector | +1.16% |
| Real estate sector | +1.76% |
| PSU Bank in India | -0.50% |
Top gainers today
| Company | Price | Change (%) |
| Hindalco Share Price | 711.85 | +3.90 |
| HCL Tech Share Price | 1,719.45 | +3.49 |
| NTPC Share Price | 414.85 | +3.21 |
| Bajaj Finserv Share Price | 1,686.20 | +2.82 |
| ONGC Share Price | 327.85 | +2.81 |
Top losers today
| Company | Price | Change (%) |
| Apollo Hospital Share Price | 6,780.00 | -1.18 |
| Hero Motocorp Share Price | 5,343.75 | -0.76 |
| Adani Ports Share Price | 1,482.55 | -0.59 |
| Maruti Suzuki Share Price | 12,243.80 | -0.48 |
| Eicher Motors Share Price | 4,875.20 | -0.47 |
Market aftermath: Impact on stocks
Emcure Pharma rises 5% as Jefferies gives ‘Buy’ rating
Shares of Emcure Pharmaceuticals, backed by Namita Thapar, surged by 5% after global brokerage Jefferies initiated coverage with a ‘Buy’ rating. The stock hit a record high of ₹1,455.20 on the NSE. Jefferies has set a price target of ₹1,600, indicating a 15% upside from its last closing price.
Jefferies highlighted Emcure’s expertise in developing complex molecules and its limited exposure to the volatile US market as key strengths. The brokerage forecasts an annual revenue growth of 11% and a compound annual profit growth of 29% from FY24 to FY27.
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Bikaji Foods hits 52-week high after acquiring Ariba stake
Bikaji Foods shares reached a new 52-week high, jumping nearly 5% following the announcement of its acquisition of a 55% stake in Ariba Foods for ₹60.49 crore. This move will make Ariba Foods a subsidiary of Bikaji, enhancing its frozen food production capabilities.
The acquisition is seen as a strategic step for Bikaji to expand its market presence in the frozen food segment, positioning the company for further growth. Shares were trading at ₹864.7 on the NSE, up by 1.17% from the previous session.
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BHEL gains 2% on ₹11,000 crore orders from Adani Power
Bharat Heavy Electricals (BHEL) saw its stock rise by over 2% after securing supercritical power orders worth more than ₹11,000 crore from Adani Power and its subsidiary Mahan Energen Limited.
The stock reached a high of ₹304 per share on the NSE, reflecting investor confidence in the company’s ability to deliver on large-scale projects. BHEL’s continued success in securing such contracts solidifies its position as a key player in India’s power sector.
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Crude oil price decline
Crude oil prices edged higher today due to escalating tensions in West Asia and hopes of an interest rate cut in the US.
Brent oil futures were up by 0.63% at $78.64, Crude oil futures increased by 0.71% to $75.36. On the MCX, crude oil futures traded at ₹6,330, up 0.59% from the previous close.
The upward trend in crude prices reflects market concerns over potential disruptions in supply due to geopolitical tensions, coupled with optimism over a potential rate cut in the US.
Conclusion
The Indian stock market continues to show resilience, buoyed by positive global cues and strong sectoral performances. As Nifty crosses the 25,000 mark, investor sentiment remains upbeat, although analysts advise caution, particularly in the broader market.
With upcoming data releases and global developments, the market’s direction in the near term will be closely watched.
Stay tuned on StockGro for more updates on market trends.
