Tuesday saw a moderate revival of the equity benchmark indices after experiencing decline in the preceding four trading days. This rebound was underpinned by a decrease in retail inflation, hopeful forecasts of RBI’s potential rate reductions, and steady influxes of foreign capital. Marking mid-day at 1.05pm, Sensex posted a 0.49% rise corresponding to 399.34 points, reaching 82,652.80. This was in close proximity to its intraday zenith of 82,743.62. Concurrently, Nifty 50 made an ascent of 131.15 points or 0.52% to touch 25,213.45.
During the course of trading, Smallcap made a notable leap, thriving at a pace faster than the Midcap index with an advance of 0.91%. Not far behind, the Midcap index also registered commendable growth, earning a 0.67% hike. The volatility index presented a reverse trend by decreasing 3.21% to rest at 11.60, thereby indicating an environment of reduced uncertainty in the market.
On the sectoral stage, every index emulated the positive inclination, with sectors like automobiles, real estate, and healthcare exhibiting leadership. These sectors documented gains in the range of 1-2%. This served as an affirmation of the overall positive sentiment being mirrored across the board.
Among the array of establishments comprising the Sensex pack, prominent leaders contributing significantly to the gains included Hero Motocorp, Sun Pharma, Bajaj Auto, Wipro, and M&M. Conversely, HCL Tech, Eternal, HDFC Life, SBI Life, Tata Steel, and Asian Paints turned up as the principal underperformers.
Stocks such as HCL Tech, Tejas Networks, Ola Electric, and Tata Technologies marked a powerful response to their Q1 numbers. As the trading day progressed, a considerable amount of movement was observed – 1,994 stocks exhibited an upward trend on the National Stock Exchange, while a total of 757 declined. This all occurred within the entire pool of 2,835 traded stocks.
Highlights of the trading day were the 75 stocks that accomplished a 52-week high, including but not limited to CEAT, Gillette, Force Motors, EID Parry, Godfrey Phillips, and Rallis. This is contrasted by Tejas Networks and 15 other stocks which found themselves at a 52-week low.
Moreover, the day observed STL Tech, Websol Energy, and another 73 stocks hitting the upper circuit, while, on the flip side, 43 stocks struck the lower circuit, demonstrating the dynamic nature of the trading day.
Under the broader umbrella of midcap stocks, entities such as Tata Elxsi, BSE, Biocon, Bandhan Bank, Escorts and HDFC AMC rocketed by 3-4%. It was not a rosy day for all, however. Stocks like Ola Electric, Mankind Pharma, NMDC, IDFC First Bank, and Nykaa encountered a downfall ranging between 1-4%.
Turning to smallcap stocks, Anant Raj emerged as a strong performer, posting a 7% upswing. Other stocks like CAMS, Swan Energy, PGEL, Natco Pharma, and RK Forge also held their ground with healthy gains between 3-6%. Conversely, companies like Tejas Networks, Inox Wind, Welspun Corp, CreditAccess, and Reliance Power witnessed depreciations between 2-6%.
In the domain of the BSE, stocks such as Waaree Renewable, STL Tech, Midhani, and Anant Rah gained momentum by rallying 7-12%. This painted a contrasting picture to JP Power, Tejas Networks, Ola Electric and Cartrade Tech that faced the brunt of the market fluctuations, plummeting between 4-7%.