The Sensex rose by 363 points, ending at 80,369 (up 0.5%), while the Nifty gained 127 points, closing at 24,466 (up 0.5%).
The broader market joined the rebound, with the BSE Midcap and Smallcap indices each up by 0.7%, as 2,171 stocks advanced, 1,533 declined, and 121 remained unchanged.
Impact on the stock market
Strong results from ICICI Bank and various public sector banks helped lift the financial sector today. Analysts suggest that as Diwali nears, these banks’ positive performance may bring some stability to the market, especially amid continuous FII (Foreign Institutional Investor) outflows and ongoing concerns over Q2FY25 earnings.
- Nifty Financial Services outperformed other indices, gaining traction due to ICICI Bank’s robust results.
- Nifty Auto experienced the sharpest decline, down 1.6%, dragged by Maruti Suzuki, Tata Motors, and Mahindra & Mahindra. Maruti Suzuki’s stock was particularly impacted, falling nearly 4% after a reported 18% decline in net profit for Q2FY25.
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| Sector/Index | Performance |
| IT & BPM sector | -0.41% |
| Healthcare sector | -0.89% |
| Oil & Gas sector | 0.33% |
| Real estate sector | 1.43% |
| PSU Bank in India | 3.64% |
Top gainers today
| Company | Price | Change % |
| SBI Share Price | 832.70 | 5.13 |
| Bharat Elec Share Price | 283.20 | 4.87 |
| SBI Life Insura Share Price | 1,661.35 | 3.45 |
| HDFC Life Share Price | 740.50 | 3.10 |
| ICICI Bank Share Price | 1,331.85 | 3.02 |
Top losers today
| Company | Price | Change % |
|---|---|---|
| Tata Motors Share Price | 842.75 | -4.06 |
| Maruti Suzuki Share Price | 11,046.00 | -3.81 |
| Hero Motocorp Share Price | 4,787.45 | -2.85 |
| Dr Reddys Labs Share Price | 1,274.70 | -2.81 |
| Sun Pharma Share Price | 1,866.20 | -1.93 |
Market aftermath: Impact on stocks
Adani Enterprises – A Net Profit Jump of Eight Times
Adani Enterprises saw an impressive Q2FY25, with net profit soaring nearly eightfold to ₹1,742 crore. Although the revenue from operations grew 16% YoY to ₹22,608 crore, it missed analysts’ expectations of ₹26,345 crore. This diversified conglomerate’s interests, from coal and ports to digital tech and green hydrogen, continue to drive substantial profit growth despite the revenue shortfall.
Also Read: What the Hindenburg report on Adani revealed?
Cipla – Profit Surges 15% YoY, Beating Expectations
Pharma giant Cipla beat estimates, posting a 15% YoY increase in Q2FY25 net profit to ₹1,303 crore, well above the expected ₹1,215 crore. The company’s consolidated revenue reached ₹7,051 crore, marking its highest-ever quarterly revenue. Cipla’s EBITDA margin also touched a record 26.7%, boosted by a strong product mix and growth in chronic therapies like respiratory and cardiac care. Despite these numbers, Cipla’s stock dipped 2%, reflecting broader pressure on the pharma sector.
Maruti Suzuki – Profits Take a Hit
Maruti Suzuki reported an 18% YoY drop in net profit for Q2FY25, falling to ₹3,103 crore and missing analyst expectations. The automaker’s revenue rose only slightly by 0.3% to ₹37,449 crore. The drop was partially due to a deferred tax liability of ₹1,018 crore following recent regulatory changes. Maruti Suzuki’s shares reacted negatively, falling 6%, their steepest drop in nearly two years, with the stock trading around ₹10,800 on the NSE.
Crude Oil Prices and the Global Context
Crude oil prices edged slightly higher today, with January Brent futures up by 0.08% to $71.06 per barrel. This gain followed a steep 6% drop in Monday’s session, driven by relief that Israel’s recent attack on Iran avoided targeting oil facilities, reducing fears of supply disruptions. The US government’s plans to refill its Strategic Petroleum Reserve (SPR) added some support to prices.
On the domestic front, November crude oil futures on the Multi Commodity Exchange (MCX) traded at ₹5,686, down 0.42% from the previous close. The subdued performance of crude oil impacted other commodities as well, with copper futures down 0.44% and jeera contracts up marginally by 0.19%.
Conclusion
Today’s stock market performance signals cautious optimism as financial stocks led the rebound, countering the persistent FII outflows and Q2 earnings challenges. Adani Enterprises and Cipla showcased strong earnings, while Maruti Suzuki struggled, highlighting the varied impact of Q2 results across sectors.
Despite easing Middle East tensions and a slight recovery in crude prices, analysts suggest watching for potential downside risks amid upcoming global events, including the US non-farm payroll report and elections. For now, investors seem poised to navigate these uncertainties with a focus on financials, potentially bolstered further by Diwali optimism in the days to come.
For more stock market insights, check out the StockGro blog.
