News

Among the Nifty constituents, gains were led by UltraTech Cement, Eternal, and HDFC Bank, while market breadth remained weak with the NSE advance-decline ratio at 1:2, indicating broader selling pressure.

Nifty Bank climbed 656 points to end at 54,413 after recovering over 1,000 points from the intraday lows, snapping its three-session losing streak. The Midcap index, however, underperformed the benchmarks, slipping 146 points to close at 54,615.

Oil marketing companies were among the worst hit, with HPCL, BPCL, and IOC falling more than 4% each after a downgrade by HSBC.

Metal and cement stocks rallied after comments by Kumar Mangalam Birla at the India Business Leaders Awards, with UltraTech Cement, Grasim, and Hindalco rising as much as 5%.

Among individual stocks, Ola Electric snapped a four-day losing streak to end nearly 7% higher in today’s trade. Bajel Projects hit the 20% upper circuit after securing two orders in the past two days.

The Nifty Auto index also saw a sharp recovery, with Mahindra & Mahindra, Bajaj Auto, and TVS Motor emerging as top gainers in the pack.

On the downside, IDBI Bank tumbled nearly 17% amid concerns related to its divestment process.