Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, wrapped up on a positive note, overcoming a gap down opening thanks to a notable recovery in metal and banking stocks.
Strong buying interest in metal stocks such as Tata Steel, Hindalco, and JSW Steel, coupled with solid performances from PSU banks and private banks like Kotak Mahindra Bank and Axis Bank, contributed to the market’s rebound throughout the day, believes experts.
The Sensex rose by approximately 223 points, or 0.28%, closing above 81,200, while the Nifty 50 gained around 57 points, or 0.23%, finishing near 24,894.
Indian stock market: 10 key highlights from the day
1. Why did the market rise?
After a phase of rangebound trading, the market closed on a positive note, buoyed by gains in metal and consumer durables stocks. Optimism regarding a potential rate cut by the Federal Reserve in October, a weakening dollar, and stable base metal prices contributed to the rally in metal indices.
“After a period of rangebound trading, the market closed on a positive note, supported by gains in metal and consumer durables stocks. Optimism over a potential Fed rate cut in October, a weakening dollar, and stable base metal prices drove the rally in metal indices. Consumption stocks are on a buzz led by reforms, a good monsoon and moderation in inflation upsizing demand as disposable income increases,” said Vinod Nair, Head of Research, Geojit Investments Ltd.
Abhinav Tiwari, a Research Analyst at Bonanza, noted that today’s market action conveys an important lesson: despite initial selling pressure and prevailing caution among investors, the market demonstrated resilience and ended with gains. This indicates that investors maintain confidence in the ongoing credit growth story and remain optimistic about sectors such as metals and banking, which typically perform well in the current economic cycle. Looking forward, investors are keenly observing upcoming corporate earnings and the practical implications of the RBI’s monetary policy.
2. Top gainers in the Nifty 50 index today
As many as 26 stocks ended higher in the Nifty 50 index, among which Tata Steel (up 3.45%), Power Grid Corporation of India (up 2.85%), and Kotak Mahindra Bank (up 2.17%) ended as the top gainers.
3. Top losers in the Nifty 50 index
Shares of Max Healthcare Institute (down 3.88%), Tech Mahindra (down 1.27%), and Eicher Motors (down 1.23%) ended as the top losers.
4. Sectoral indices today
All sectoral indices closed in the green today, with the exception of the Nifty Auto, Nifty Realty, and Nifty Healthcare indices. The Nifty Metal index led the gains, rising by 1.82%, followed by the Nifty Consumer Durables, which increased by 1.09%, and the Nifty PSU Bank, which saw a gain of 1.12%.
5. Most active stocks in terms of volume
Vodafone Idea (628.01 crore shares), PC Jeweller (217.08 crore shares), and Adani Power (1,813.82 crore shares) were the most active stocks in terms of volume on the NSE.
6. 190 stocks hit 52-week highs
As many as 190 stocks, including Aditya Birla Capital, Canara Bank, Fortis Healthcare, and Hindalco Industries hit their 52-week highs in intraday trade on the BSE.
7. 83 stocks hit 52-week lows
Aditya Birla Real Estate, Happiest Minds Technologies, and Jyothy Labs were among the 83 stocks that hit their 52-week lows on the BSE.
8. Advance-decline ratio
Out of 4,343 stocks traded on the BSE, 2,710 advanced, while 1,490 declined. Some 143 stocks remained unchanged.
9. 6 stocks jump over 10% on BSE
KIOCL, V-Mart Retail, Lloyds Engineering Works, Aegis Logistics , Avantel, and Astra Microwave Products jumped by more than 10% on the BSE.
10. Nifty 50’s technical outlook
According to Vatsal Bhuva, Technical Analyst at LKP Securities, Nifty 50 index extended its strength in Friday’s session after a confident closing above its short-term resistance. The index took crucial support near its 100-day EMA at 24,750 and ended with a strong close around the 50-day EMA.
“On the derivatives front, heavy put writing at 24,800 signals a support base, while the highest OI concentration at 25,000 highlights a strong resistance zone, also validated on technical charts. Overall, Nifty 50 is expected to trade in a mildly bullish range of 24,750–25,100, with support at 24,750 and resistance at 25,000–25,100,” said Bhuva.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
