Indian equity markets finished the trading day in positive territory on Thursday as sector gains in Metals, Power and Banking provided upward momentum for headline indices.
At the close on the National Stock Exchange, the Nifty 50 advanced 1.18%. On the Bombay Stock Exchange, the Sensex 30 rose 1.06%.
Among Nifty constituents, Adani Enterprises Ltd (NSE:ADEL) was the top performer, climbing 8.69% - a gain of 217.00 points - to finish at 2,715.00. Cipla Ltd. (NSE:CIPL) gained 8.09%, or 107.40 points, to close at 1,435.00. Bharti Airtel Ltd. (NSE:BRTI) also outperformed, adding 5.24% or 93.80 points to end the session at 1,883.00.
On the downside, Infosys Ltd (NSE:INFY) led declines within the Nifty pack, slipping 2.55% or 28.60 points to close at 1,094.50. Tech Mahindra Ltd (NSE:TEML) fell 2.46% or 33.80 points to 1,341.20, and HCL Technologies Ltd (NSE:HCLT) dropped 1.76% or 20.10 points to finish at 1,123.10.
Turnover on the BSE reflected similar rotation. Bharti Airtel Ltd (BO:BRTI) was the top BSE gainer, up 5.53% to 1,887.00. Eternal Ltd (BO:ETEA) rose 3.03% to settle at 245.10, while HDFC Bank Ltd (BO:HDBK) added 2.64% to close at 769.40.
The weakest stocks on the Sensex included Infosys Ltd (BO:INFY), down 2.53% to 1,094.85, Tech Mahindra Ltd (BO:TEML), which lost 2.25% to end at 1,344.00, and HCL Technologies Ltd (BO:HCLT), down 1.65% to 1,124.50 at the close.
Market breadth was mixed. On the NSE, decliners slightly outnumbered advancers with 1,276 stocks falling versus 1,234 advancing, and 54 unchanged. On the BSE, 2,000 stocks declined while 1,923 advanced, and 174 ended unchanged.
Volatility, as measured by the India VIX, eased during the session, falling 4.25% to 18.60.
Commodity markets showed modest moves. Gold futures for June delivery slipped 0.05% or 2.28 to trade at $4,704.42 a troy ounce. In energy markets, crude oil for June delivery dipped 0.26% or 0.26 to $100.76 a barrel, and the July Brent contract fell 0.12% or 0.13 to $105.50 a barrel.
In currency markets, USD/INR was slightly lower by 0.01% at 95.61, while EUR/INR was up 0.02% to 112.14. The US Dollar Index Futures registered a small decline of 0.01% to 98.41.
Intraday moves also included several stocks reaching notable reference points. Shares of Adani Enterprises Ltd (NSE:ADEL) rose into 52-week highs with the 8.69% advance to 2,715.00. Infosys Ltd (NSE:INFY) fell to five-year lows on the NSE, slipping 2.55% to 1,094.50, while HCL Technologies Ltd (NSE:HCLT) moved to 52-week lows after the 1.76% decline to 1,123.10. Parallel BSE listings showed similar milestones: Infosys Ltd (BO:INFY) fell to a five-year low at 1,094.85 and HCL Technologies Ltd (BO:HCLT) touched a 52-week low at 1,124.50.
Context for investors
The session's advances were led by names in energy-linked conglomerates and consumer health, while several large-cap information technology firms weighed on the market. The decline in the India VIX suggests a modest reduction in near-term option-implied volatility for Nifty options.
What to watch next
- Follow-through buying or selling in the largest contributors to the day's move, particularly Adani Enterprises, Cipla and Bharti Airtel.
- Price action in major IT names such as Infosys, Tech Mahindra and HCL Technologies, which posted the session's largest declines among blue-chips.
- Moves in crude oil and gold prices and their potential influence on sector rotation and sentiment.