Market at Close | Hindalco, Reliance, BPCL lead market recovery; Sensex ends 118 points higher

The equity benchmark indices BSE Sensex and NSE Nifty ended higher after recovering more than 1% from the day’s lows, supported by gains in oil marketing companies, metals and select financial stocks, even as the rupee hit a record intraday low against the US dollar.

The Sensex rose 118 points to close at 75,318, while the Nifty gained 41 points to settle at 23,659, holding above the 23,650 mark at close. Nifty Bank advanced 153 points to 53,562, and the Midcap Index climbed 301 points to 61,323.

Reliance Industries, Hindalco, Axis Bank and Mahindra & Mahindra were the top contributors to the Nifty’s gains.

From the Sensex basket, Hindalco Industries Ltd, Reliance Industries Ltd, Bajaj Auto Ltd, Wipro Ltd, Grasim Industries Ltd and Mahindra & Mahindra Ltd were the major gainers. Bharat Electronics Ltd, Eternal Ltd, Tata Steel Ltd, Hindustan Unilever Ltd, Nestle India Ltd and ITC Ltd were the biggest laggards.

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Oil marketing companies ended at the day’s high following strong commentary from HPCL. Tata Communications

was among the top gainers in the midcap pack. The rupee touched a record intraday low of 96.96 against the US dollar during the session.

Among individual stocks,

IRB Infrastructure Developers emerged as the top Nifty gainer, rising more than 3% after Novelis reported strong fourth-quarter results. Avalon Technologies surged over 7% after the company appointed Ganapathi S Lakshminarayanan as Managing Director and Chief Executive Officer.

PI Industries climbed nearly 6% from the lows after reporting its fourth-quarter results, with margins rising 980 basis points year-on-year. PI Industries gained nearly 8% after Nomura initiated coverage on the stock with a ‘Buy’ rating.

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On the losing side, PI Industries was the top midcap loser, falling over 7% following weak fourth-quarter results.

Zee Entertainment Enterprises declined nearly 6% after reporting a net loss of ₹104 crore. Market breadth remained neutral, with the NSE advance-decline ratio at 1:1.