Mumbai: ended Thursday’s session with strong gains as the Sensex surged 905.01 points, or 1.24 percent, to close at 74,151.04, while the Nifty 50 advanced 237.90 points, or 1.05 percent, to settle at 22,936.75. Buying in banking, FMCG and realty stocks helped the benchmarks recover from early weakness.
How Markets Recovered
opened at 22,690.65, below its previous close of 22,698.85, and slipped to an intraday low of 22,656.75.
However, buying gradually returned, pushing the index to a high of 22,961.95 before it settled near the day’s peak.
Similarly, the Sensex opened at 73,268.47, touched a low of 73,181.90 and climbed to an intraday high of 74,166.16. It eventually closed at 74,151.04, significantly above its previous close of 73,246.03.
Banking Stocks Rally
Banking stocks supported the broader market recovery. Nifty Bank gained 642 points to close at 54,910, while the midcap index advanced 567 points to 57,842.
FMCG, PSU banking and realty stocks emerged among the leading sectors.
Real estate shares witnessed renewed buying during the final trading hour.
DLF gained more than 4 percent, helping the realty sector recover from earlier weakness.
Q2 Earnings Boost
Quarterly earnings drove significant movements in individual stocks.
Birlasoft surged 12 percent, recording its biggest single-day gain in more than five years. V-Guard Industries jumped nearly 8 percent following strong second-quarter results.
Laurus Labs advanced over 3 percent after reporting better-than-expected earnings.
Ambuja Cements and Asian Paints also finished approximately 1 percent higher following their quarterly announcements.
Why Stocks Fell?
Despite the broader rally, several stocks faced selling pressure.
Hero MotoCorp declined more than 4 percent following management commentary during its earnings call.
Hexaware Technologies dropped nearly 6 percent after lowering its EBITDA margin guidance, while RR Kabel slipped around 4 percent following a reduction in its volume growth outlook.
Equitas Shares Tumble
Equitas Small Finance Bank plunged 12 percent following news of its managing director and CEO’s resignation.
The reported resignation cited conflict-of-interest concerns, bringing leadership stability and corporate governance into focus.
Jio Platforms Recovers
Jio Platforms witnessed volatile trading before recovering from intraday losses to close marginally higher.
The company’s market capitalisation crossed Rs 13.5 lakh crore during intraday trading.
Overall, the session reflected renewed buying interest, although company-specific developments continued to influence individual stocks.