Stock Market Closing Update: Nifty, Bank Nifty End at Day’s High; Metals, Midcaps Lead Rally
Indian equity markets staged a strong comeback on Wednesday with both Nifty 50 and Bank Nifty closing at their day’s highs, reversing Tuesday’s weakness.
Markets opened on a slightly negative note and remained range-bound for the first two hours. However, sentiment improved sharply after positive updates from the GST Council meeting, leading to strong buying across sectors.
Key Highlights:
Nifty 50 closed just below the crucial 24,800 level after touching 24,730 intraday.
Bank Nifty closed firmly above 54,000, signaling renewed strength in financials.
The action was largely centered around the 200-day exponential moving average (EMA), which markets respected throughout the day.
Advance-Decline Ratio remained positive with ~1,800 advancing stocks against ~900 declining stocks on NSE.
Sector & Stock Performance:
Metals outshined: Tata Steel (+6%), Hindalco, and JSW Steel led the rally as India-China trade routes reopened, boosting export sentiment.
Coal India and IndusInd Bank were among other top gainers.
IT majors like Infosys and TCS, along with HDFC Bank and Nestle, saw selling pressure. Infosys slipped ~3.5%.
In the midcap and smallcap space, TBOT surged 15%, Network18 jumped 12%, while Polycab and NALCO also gained strongly.
Losers included JK Cement (-3.5%), Intellect Design, and ECLX, each down ~2.5%.
One-Week Movers:
Ola Electric surged 35% in the last week, supported by strong EV demand and government GST reductions on two-wheelers.
Salman Capital (+17%), TVS Electronics (+15%), and Ultra Astra were other major outperformers.
Gold Prices:
Gold continued its strong uptrend with 24-carat gold trading at around ₹1,07,120 per 10 g (₹10,712 per gram) in Delhi on Wednesday. 22-carat gold was quoted near ₹98,200 per 10 g, while 18-carat gold hovered around ₹80,350 per 10 g.
This marks a gain of nearly ₹88 per gram in 24K and ₹80 per gram in 22K compared to the previous session, pushing domestic bullion to fresh lifetime highs.
The sharp rise has boosted sentiment in the gold loan segment, with companies like Muthoot Finance and Manappuram Finance witnessing strong interest from investors.Underperformers included Student Finance (-8%), M-Care (-6%), and Adani Total Gas (-5%).
Institutional Flows:
FII selling: ₹1,666 crore
DII buying: ₹2,500 crore
Net inflow: ~₹900 crore, led by domestic institutions
Corporate & Market Updates:
Aptus Housing Finance: WestBridge Capital to offload its 16.46% stake worth ₹2,600 crore via block deal at ₹316 per share (CMP ₹332).
Zomato & Swiggy: Both platforms raised their platform fees – Zomato from ₹10 to ₹12 (20% hike), Swiggy from ₹14 to ₹15 (~7% hike). Analysts expect limited consumer impact as demand remains sticky.
Rare Earth Incentives: Cabinet approved a ₹1,500 crore package under the National Critical Minerals Mission. Stocks like GMDC gained ~4.5% on expectations of benefits.
Netweb Technologies: Secured a ₹1,734 crore AI infrastructure order; stock trades around ₹2,500, below its lifetime high of ₹3,000.
Kaynes Technology: Announced launch of India’s first indigenously developed semiconductor chip on October 5, 2025. Analysts expect strong pre-launch momentum.
TCS: LIC marginally increased its stake from 4.9% to 5%, highlighting value buying at lower levels. Stock remains 30% below October 2024 highs.
Global Cues:
Gift Nifty: Trading 23 points lower in extended session
Dow Jones: -61 pts
Nasdaq: +261 pts
S&P 500: +37 pts
Global signals remain mixed, but Indian markets are showing resilience.
Outlook:
With both Nifty 50 and Bank Nifty closing at day’s highs and strong institutional support from DIIs, analysts expect positive momentum to continue in the near term. However, the final outcome of the GST Council meeting will play a decisive role in shaping medium-term market direction.
