The Sensex added 901.50 points or 1.13% to close at 80,378.13, while the Nifty 50 jumped 270.74 points (1.12%) to finish at 24,484.05.
In broader markets, Nifty Midcap 100 rose by 2.02%, while Nifty Smallcap 100 gained 1.99%, reflecting strong buying interest across mid- and small-cap stocks.
Impact on the stock market
The market saw strong performance across various sectors, with IT stocks emerging as clear leaders in the session. Here’s a breakdown:
- IT Sector: Led by TCS, Infosys, and HCL Tech, the IT index surged by over 4%, as global cues boosted investor sentiment.
- Key Gainers: Other sectors, including Oil & Gas, Auto, and Consumer Durables, registered gains, with Oil & Gas up over 2.5%.
- Lagging Sector: Only a handful of stocks in the Private Bank sector ended in the red, including IndusInd Bank and HDFC Life.
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| Sector/Index | Performance |
| IT & BPM sector | +3.99% |
| Healthcare sector | +1.30% |
| Oil & Gas sector | +2.54% |
| Real estate sector | +2.58% |
| PSU Bank in India | +1.39% |
Top gainers today
| Company | Price | Change % |
| Bharat Elec Share Price | 301.85 | 5.41 |
| Adani Enterpris Share Price | 3,046.25 | 4.48 |
| TCS Share Price | 4,139.65 | 4.24 |
| Infosys Share Price | 1,823.70 | 3.96 |
| Tech Mahindra Share Price | 1,693.55 | 3.73 |
Top losers today
| SBI Life Insura Share Price | 1,603.95 | -1.79 |
| Titan Company Share Price | 3,177.05 | -1.65 |
| HDFC Life Share Price | 708.70 | -1.19 |
| IndusInd Bank Share Price | 1,077.65 | -1.14 |
| HUL Share Price | 2,500.70 | -0.82 |
Market aftermath: Impact on stocks
Mazagon Dock Shipbuilders – Strong Q2 Earnings Boost
Mazagon Dock Shipbuilders had a notable session, with shares rising over 3% in response to solid Q2 results. The defence company posted a 76% increase in net profit, reaching ₹585 crore. Revenue surged by 51% to ₹2,757 crore for the quarter.
The company’s EBITDA saw a dramatic increase, reaching ₹510 crore, up from ₹176 crore a year ago. This impressive performance lifted the stock to ₹4,327.95 per share on the NSE, with early trading volume reflecting positive investor sentiment.
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Swiggy IPO – Market Reaction and Subscription Status
Swiggy’s much-awaited IPO launched today, aiming to raise ₹11,327.43 crore through a mix of fresh issue and offer for sale (OFS), priced between ₹371 to ₹390 per share. The IPO saw cautious early participation, with the retail portion of the book build issue subscribed 0.44 times by afternoon.
In the grey market, Swiggy shares traded at a modest premium of ₹11, reflecting mixed market sentiment. Although some analysts view Swiggy as a “subscribe” for its potential in hyperlocal commerce, others remain skeptical, advising a “do not subscribe” due to long-term profitability concerns.
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Titan – Margin Pressures Weigh Down Stock
Titan Company struggled today, slipping 4% to ₹3,113.65 after reporting underwhelming Q2 earnings. The company’s profit before tax fell 24% YoY to ₹948 crore, affected by customs duty reduction on gold. Despite a 26% rise in jewellery revenue, Titan’s EBITDA margin contracted by 80 basis points to 10.5%, raising concerns over profitability.
The brand remains optimistic about growth potential across its jewellery and non-jewellery segments but may face continued margin pressures as competition heats up.
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Crude Oil Prices Dip Amid Rising U.S. Inventories and Election Jitters
Crude oil futures traded lower today due to an unexpected increase in U.S. inventories. According to the American Petroleum Institute (API), U.S. crude inventories rose by 3.13 million barrels for the week ending October 25, dampening oil prices.
- Brent Oil: January futures fell by 1.01% to $74.77.
- WTI Crude: December futures dipped by 0.89% to $71.35.
Additionally, investors are closely watching the U.S. presidential election results, with potential policy shifts likely to impact oil demand. ING’s commodities team noted that a Trump victory could introduce short-term gains due to potential sanctions enforcement on Iran, though the long-term implications remain uncertain.
Conclusion
The Indian stock market closed with significant gains, supported by strong performances across sectors, particularly IT, and encouraging quarterly results from Mazagon Dock. The market’s rally reflects a mix of positive sentiment driven by the U.S. election outcome and corporate earnings.
For investors, the coming days will be crucial as the market digests global developments, Swiggy’s IPO subscription progress, and quarterly results from other key companies.
For more stock market insights, check out the StockGro blog.
