The Indian stock market staged a strong comeback after a 10-day losing streak, with the Nifty 50 surging 1.15% and all sectoral indices closing in the green. Robust gains in metal, IT, media, and auto stocks fueled the rebound, boosting investor confidence and portfolios.
Indian Stock Market Rebounds Strongly: Nifty 50 Ends 10-Day Losing Streak, Sensex Crosses 73,000
The Indian stock market staged an impressive comeback on March 5, with bulls finally regaining control after a prolonged losing streak. Brushing aside concerns over Donald Trump’s tariff threats on Indian imports, all 13 major sectoral indices ended in the green, fueling a broad-based rally.
Despite previous attempts at a rebound being short-lived, today’s session witnessed strong buying interest across multiple sectors. A positive economic outlook from China triggered a surge in metal stocks, while IT stocks saw renewed buying after hitting eight-month lows. Media and auto stocks also contributed significantly to the recovery, with FMCG and pharma sectors posting healthy gains.
With this rally, the Nifty 50 surged 1.15% to close at 22,337, snapping its longest losing streak since 1996. Meanwhile, the Sensex gained 1.01%, ending at 73,730. Here are the top 10 key highlights from today’s stock market session:
1. Biggest Intraday Gains in a Month
- The Nifty 50 and Sensex recorded their best intraday gains in over a month, both climbing more than 1%.
- Market analysts believe that if this momentum continues, further gains are possible in the coming sessions.
2. 90% of Nifty 50 Stocks Close Positive
- 45 out of 50 Nifty 50 stocks ended in the green, with Adani Ports & SEZ leading gains with a 5.2% surge.
- Other top gainers included Tata Steel, Adani Enterprises, M&M, Power Grid Corporation, and NTPC, each gaining over 4%.
- Auto stocks like Tata Motors, Eicher Motors, and Hero MotoCorp also advanced between 2% and 3.6%.
3. ITC, RIL, and Three Other Heavyweights Drive 43% of Nifty’s Gains
- ITC, Reliance Industries (RIL), Bharti Airtel, Infosys, and M&M collectively contributed 110 points (43%) to Nifty 50’s 254-point gain.
- ITC added 30 points, followed by RIL (23 points) and M&M (21.33 points).
4. Nifty Metal Index Tops Sectoral Performance
- The Nifty Metal index soared 4.04%, closing at 8,685, driven by China’s 5% GDP growth target and a weak US dollar.
- Hindustan Copper surged 7.5%, while Welspun Corp, NALCO, Vedanta, NMDC, and Tata Steel gained over 5% each.
5. 8 Nifty 500 Stocks Hit 52-Week Lows
- Despite the market rally, Bajaj Auto, Sun TV Network, Asian Paints, Nestle India, MphasiS, MRF, Bosch, and G R Infraprojects hit fresh one-year lows.
6. Mid and Small-Cap Stocks Outperform
- The broader market outshined frontline indices, with Nifty Midcap 100 rising 2.38% to 49,148.
- Nifty Smallcap 100 jumped 2.90%, closing at 15,190.
7. Tata Steel, Easy Trip Planners See Heavy Trading Volumes
- Tata Steel traded 62.1 million shares, 1.83 times its weekly average volume.
- Easy Trip Planners saw 53.1 million shares traded, nearly 1.77 times its weekly average.
- Other stocks with high volumes included SAIL, NMDC, Rail Vikas Nigam, and Gujarat Toolroom.
8. 14 Stocks Hit 20% Upper Circuit Limit
- Quadrant Future Tek, Man Industries, Arihant Capital Markets, and Ganesh Infraworld were among 14 stocks locked at the 20% upper circuit.
- Over 276 stocks touched their upper circuit limits, ranging from 2% to 10%.
9. Rupee Gains 19 Paise Against US Dollar
- The Indian Rupee strengthened by 19 paise, closing at 87.00 against the US dollar.
- A weak dollar and falling crude oil prices supported the currency’s appreciation.
10. Oil Prices Fall for Third Straight Session
- Brent crude fell below $71 per barrel, staying near a four-month low.
- WTI crude dropped below $68 per barrel, marking a three-month low amid concerns over OPEC+ increasing production and global growth slowdown.
Stock Market Outlook
Today’s broad-based rally has provided much-needed relief to investors after weeks of market pressure. Analysts suggest that if global cues remain stable, the Indian stock market could extend its gains in upcoming sessions.
