The Sensex surged 789.74 points or 1.06% to close at 75,398.72, while the Nifty 50 gained 277 points or 1.18% to settle at 23,689.60, extending gains for a second straight session. According to Business Standard, this strong performance was driven by optimism around progress in US-China trade talks and strong earnings in select heavyweights. The broader market also showed positive momentum, with the Nifty Midcap 150 index rising 1.18% and the Smallcap 250 index ending almost flat. India VIX, the volatility index, declined 4.18% to 18.66, indicating reduced market uncertainty. As per HDFC Securities, fifteen of the sixteen major sector indices rose during the session, with defensive and commodity-linked sectors leading the advance.
Among the constituents of the Nifty Pharma index, several companies posted significant gains. As reported by Business Standard, Cipla Ltd gained 8.22%, Zydus Lifesciences Ltd jumped 5.58%, and Ipca Laboratories Ltd rose 5.15%. These strong performances contributed to the overall index gains and highlighted investor interest in the pharmaceutical sector. The Nifty Healthcare Index also emerged as a top performer, advancing 2.56%, demonstrating broad-based strength across healthcare-related stocks. According to HDFC Securities, the rally was led by Cipla which rose 8% during the day, winding up on the top gainers list on Nifty. Investors chose to look past the near-term headwinds from the company's North America business and decided to reward long-term structural prospects instead.
Beyond pharmaceuticals, other sectoral indices showed mixed but generally positive performance during today's trading session. According to Business Standard, the Nifty Metal index climbed 2.04%, while the Nifty Financial Services, Nifty PSU Bank, and Nifty Private Bank gained 1.44%, 1.37%, and 1.16% respectively. The Nifty Auto, Nifty Realty, and Nifty Consumer Durables also ended in the green. However, the Nifty IT index declined 1.99%, extending its four-session decline to nearly 6.9% amid concerns that artificial intelligence-led disruption could hurt earnings growth for technology companies. As per HDFC Securities, technology stocks remained under sustained selling pressure with the Nifty IT index declining nearly 2%, making it the only major sector index to finish in negative territory. Heavyweights such as Infosys, Tech Mahindra, HCL Technologies, and TCS were among the top draggers on the Nifty.
On the Sensex, Bharti Airtel jumped 5.32% after reporting a rise in quarterly profit, while Adani Enterprises climbed 8.6% to hit a fresh all-time high of ₹2,713 following a large block deal. Eternal Ltd gained 3.32% and HDFC Bank rose 2.67% to snap a five-session losing streak. Sun Pharmaceutical Industries and Mahindra and Mahindra also ended higher. Among the losers, Infosys fell 2.46%, Tech Mahindra declined 2.16%, HCL Technologies slipped 1.63%, TCS dropped 1.18%, and Hindustan Unilever fell 0.84%. The market recovery was particularly notable given that it staged a counterintuitive recovery from intraday lows despite the rupee hitting a record low. According to HDFC Securities, Dixon Technologies, which is an India-based electronics manufacturing services provider, edged down after jumping yesterday despite weak results.
Despite strong market gains, the Indian rupee weakened further to hit another record low of ₹95.9 against the US dollar, adding to concerns about foreign investor outflows. As per Business Standard, foreign investors have pulled out nearly $23.2 billion from Indian equities so far this year. Brent crude traded near $105.5 per barrel, while WTI crude hovered around $100.7 per barrel, keeping concerns around inflation and India's import bill elevated. However, investor confidence was bolstered by positive cues from the Trump-Xi summit, which raised hopes of expanding economic cooperation and potential government measures to mitigate INR weakness, including consideration of bond tax relief for foreign investors. According to HDFC Securities, global cues remained supportive with firm trends across Asian markets and improved risk sentiment internationally aiding domestic equities. The overall market capitalisation of BSE-listed firms rose to ₹463 lakh crore from ₹458 lakh crore in the previous session, with investors earning ₹5 lakh crore in a single session.
