Indian equity markets staged a smart recovery after a choppy session, closing near the day’s high. Banking and heavyweight stocks led the rebound, helping frontline indices finish in the green despite pressure in select auto names.
🔻 Auto Stocks Under Pressure
Passenger vehicle makers saw sharp selling, with Tata Motors PV, Mahindra & Mahindra, and Maruti Suzuki falling up to 5%. The decline came amid concerns over increased competition following the India-EU Free Trade Agreement (FTA).
🔺 Stocks That Stood Out
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Axis Bank surged 5% after delivering strong Q3 results
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Tata Consumer Products gained nearly 3% post earnings
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Hindustan Zinc jumped 5%, tracking a record high in silver prices
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Textile and shrimp stocks rallied up to 12%, emerging as major beneficiaries of the India-EU FTA
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Sona BLW was the top midcap gainer, rising nearly 7% on FTA optimism
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MCX soared over 6% after robust Q3 performance, with F&O turnover up 82% QoQ
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Raymond advanced over 5%, while Raymond Lifestyle added nearly 4% after Q3 results
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UltraTech Cement climbed 2% after beating Q3 estimates and reducing debt by ₹1,777 crore QoQ
🔻 Laggards
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CG Power slipped nearly 4%, emerging as the top midcap loser following its Q3 results
📊 Market Snapshot
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Sensex: Up 320 points to 81,857
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Nifty 50: Up 127 points to 25,175 (closed above 25,150)
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Nifty Bank: Outperformed, rising 732 points to 59,205
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Nifty Midcap Index: Added 338 points to 57,484
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Market Breadth: Neutral, with NSE advance-decline ratio at 1:1
💱 Currency Update
The Indian Rupee ended stronger at 91.72 per dollar, compared to Friday’s close of 91.94/$.
📌 Closing Takeaway
Despite intra-day volatility, markets showed strong buying interest at lower levels, supported by banking stocks and positive earnings momentum. With Nifty closing near the day’s high, sentiment remains cautiously optimistic heading into the next session.
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