The Indian markets closed at the highest levels since January with the Nifty breaking the March 25 highs and creating a new swing high, closing above 23,851, up nearly 2%. The Sensex too saw a smart 1500 points rally with the Index closing at 78,553. The broader markets too saw buying however, the rally across the large cas overshadowed the small and midcaps.
The top gainers in trade today included banks, pharma and Oil and Gas. Reliance and HDFC Bank were some of the big stars in trade today with HDFC Bank hitting a fresh 52-week high for the second day on trot. On the losing side, tech companies continued to bleed. However, most tech stocks recovered ground as the market rallied with Nifty IT closing up 0.23% after falling as much as 2% in intra-day trade.
1. The big Index movers today
In today’s trading session, key index movers in the Nifty 50 included Eternal, which surged by 5%, followed by Sun Pharma, up nearly 4%. Other notable gainers were ICICI Bank, Bharti Airtel, Bajaj Finserv, and Kotak Mahindra Bank, each rising between 3% to 4%. Additionally, heavyweights like SBI and Reliance Industries also contributed to the market’s upward momentum.
2. The key Index losers in trade
The key index losers in today’s trading session were led by Wipro, which declined by 4%. Other laggards included Tech Mahindra, Hero MotoCorp, JSW Steel, Coal India, and Adani Enterprises, each slipping nearly 0.5%.
3. 52-Week High: 63 Nifty stocks hit new milestone
A total of 63 stocks on the Nifty hit their 52-week high in today’s trading session, marking the strong bullish sentiment in the market. Some of the notable names that touched this milestone include Ajax Engineering, Bajaj Finserv, Bharti Airtel, HDFC Bank, and ICICI Bank, among others.
4. 52-Week Low: 16 Nifty stocks slip to new lows
In contrast to the broader market rally, 16 Nifty stocks hit their 52-week low in today’s trading session. Gensol Engineering once again touched its 52-week low for the second time this week. Other stocks that slipped to their yearly lows included Delta Autocorp, Kesoram Industries, and KBC Global, among others.
5. Record stocks hit upper circuit
Riding the wave of a strong market rally, 116 stocks on the Nifty hit their upper circuit in today’s session as both benchmark indices surged. Among the notable companies that locked in at their upper limits were Senco Gold, Quess Corp, JSW Holdings, and Emcure Pharmaceuticals.
6. Lower Circuit: 29 stocks crash
While the broader market saw a strong uptrend, 29 stocks hit their lower circuit in today’s trading session. Gensol Engineering continued its downward spiral for the second straight day. Other names that were locked in the lower circuit included Tembo Global Industries, Force India, and Keynote Financial Services, among others.
7. Tech stocks under pressure
The tech stocks remained under pressure. Though the IT Index and most stocks closed in the green, Wipro saw massive cuts on the back of a disappointing guidance. The stock plunged 6% intra-day and finally closed down 4%.
8. Volatility Eases: Nifty VIX drops over 2%
Market volatility cooled off as the Nifty VIX slipped by 2.51% to settle at 15.47 in today’s session. Lower VIX levels often reflect reduced fear among market participants, paving the way for sustained bullish momentum.
9. Rupee Gains Ground: Closes 31 paise higher against US dollar
The Indian rupee appreciated by 31 paise, closing at 85.37 per dollar on Thursday, compared to Wednesday’s close of 85.68. The dollar continues to remain weak and the dollar Index is consistently trading below 100.
10. Sharp slide in US Futures
In a sharp turnaround, Dow futures plunged 450 points after US President Donald Trump criticised Fed Chair Jerome Powell for not cutting interest rates. While the Dow slipped into the red, S&P 500 and Nasdaq futures managed to hold gains, trading 30 and 170 points higher, respectively.