The Indian equity markets surged to fresh peaks on Wednesday, with the Nifty 50 closing at a historic high of 24,666.90 (+0.36%), while the Sensex gained 182 points to settle at 81,330.56. The rally was fueled by strong performances in metal, IT, and defence stocks, alongside optimistic global cues and easing inflation concerns.
Market Snapshot
- Nifty 50: 24,666.90 (+0.36%) | Sensex: 81,330.56 (+0.22%)
- Nifty Bank: 54,801.30 (-0.25%) | Nifty IT: 37,853.55 (+1.34%)
- Broader Markets: BSE Smallcap (+1.63%) and Midcap (+1.19%) outperformed.
- India VIX: Dropped 5.61% to 17.18, signaling reduced volatility.
- Global Indices: Dow Jones (+0.75%), Nasdaq (+1.10%) lifted by tech giants like Nvidia (+5.75%).
Top Gainers & Losers
Nifty 50 Leaders:
- Tata Steel: +3.93% (₹155.30) | 52W High: ₹184.60
- Tech Mahindra: +2.22% (₹1,607.40) | Q4 IT sector up 1.34%.
- Shriram Finance: +2.75% (₹651.00) | BEL: +2.61% (₹344.50).
Nifty 50 Laggards:
- Asian Paints: -1.66% (₹2,286.00) | Kotak Bank: -1.12% (₹2,091.90).
Smallcap Stars:
- Indo Rama Synth: +19.98% (₹46.47) | Garden Reach Shipbuilders: +14.27% (₹2,188.00).
Sectoral Highlights
- Nifty Metal (+2.46%): Driven by SAIL (+5.76%) and NALCO (+4.92%).
- Nifty IT (+1.34%): Boosted by US rate cut hopes and Infosys (+1.54%).
- Defence Stocks: Hindustan Aeronautics (+3.98%, ₹4,768) and Mazagon Dock (+2.51%, ₹3,078.20) dominated trading volumes.
Key Drivers
- Inflation Relief: India’s CPI eased to 3.16% in April; US CPI cooled to 3.4%.
- FII/DII Activity: FIIs net sold ₹476.86 Cr, but DIIs injected ₹4,273.80 Cr.
- Global Momentum: Nvidia’s 5.75% rally lifted tech sentiment; Dow Jones rose 0.75%.
Most Active Stocks
- Hindustan Aeronautics: ₹4,768 (+3.98%) | Turnover: ₹3,982 Cr.
- Cochin Shipyard: ₹1,699.40 (+7.76%) | Mazagon Dock: ₹3,078.20 (+2.51%).
Technical Trends
- Bullish Signals: Cyient (₹1,288.80), CDSL (₹1,334.90), and JK Bank (₹101.59) shifted from bearish to bullish.
- F&O Action: TITAGARH (+7.72%) saw long buildup with OI surge of 12.47%.
Intraday Large Deals
- Mazagon Dock: 4,120 shares @ ₹3,078.20.
- Bharti Airtel: 11,283 shares @ ₹1,834.20.
Global Markets & ETFs
- US Tech Rally: Nvidia (+5.75%), IBM (+1.98%) led gains.
- ETFs: Nippon Gold Bees (+0.75%) and Silver ETF (+1.10%) rose on safe-haven demand.
Expert Insights
Vinod Nair, Geojit:
“Midcaps rebounded sharply as easing inflation revived demand. Defence and metal stocks are poised for growth amid global recovery.”
Rupak De, LKP Securities:
“Nifty’s next target is 24,850–25,000 if it holds above 24,400. Bank Nifty consolidation likely until 55,200 breakout.”
Looking Ahead
- Monetary Policy: RBI’s rate decision post soft CPI data.
- Earnings Focus: L&T, Axis Bank results this week.
- Global Cues: US Fed minutes and commodity trends.
Stay tuned to NewsFromStockMarket.com for real-time updates!
