Metal shares were the top gainers with Hindalco up over 5%.
Gains in key IT, capital goods, healthcare and metal stocks, after consistent buying by domestic and foreign investors, helped both the key indices to scale new peaks.
The recovery was led by pharma majors led by Dr Reddy's Labs.
Markets snapped their 8-day winning streak.
Sesnsex ended the day flat on heavy selling pressure.
Markets closed in the red on domestic worries.
Sensex, Nifty put up a good show in closing trade.
Infrastructure investments in politically-expedient sectors such as water supply, sanitation and irrigation have seen an increase during the first year of the 12th Five-Year Plan (2012-13 to 2016-17), but the same did not get replicated in other critical sectors.
Investors have kept their eyes on US-China trade talks and are optimistic about a positive outcome.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
A recovery in rupee, buying by domestic institutional investors, encouraging earnings by select blue-chips and stock specific buying helped the market get back on its feet
The BSE Midcap and Smallcap indices have performed better than the front-liners
Oil & Natural Gas Corporation Ltd said its ONGC Videsh Ltd authorized plans to hold talks with British Gas for acquisition of their stake in Kashagan oil filed. However, no action has been taken in this regard, it said.
Since most Indian firms have kept their forex exposure unhedged, credit profile of companies in the highly sensitive sectors such as oil & gas, metal & mining, airlines could weaken substantially, says Anup Roy.
'The domestic scenario is much better than earlier, demonstrated in the March quarter earnings.'
Infosys, TCS, ICICI Bank and Sun Pharma among the top losers of the hour.
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
The market sentiment was also impacted by mixed global cues as setbacks for a healthcare overhaul in the US raised doubts over prospects for a range of reforms backed by President Donald Trump.
This makes him corporate India's biggest donor to society.
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
The Tata group companies are now more valuable than all the listed central public sector undertakings (CPSUs) or companies in the country. The key 20 listed Tata companies ended the 2021 calendar year with a combined market capitalisation of Rs 23.36 trillion, ahead of the 70 listed CPSUs, which had a combined m-cap of Rs 23.2 trillion. In comparison, these CPSUs had a combined market capitalisation of Rs 16.7 trillion at the end of December 2020 against the Tata group firms' combined m-cap of Rs 15.7 trillion.
The automobile segment is our preferred area, and old favourites such as Tata Motors, Bajaj and Maruti Suzuki continue to entice us.
This surpassed its previous record close of 29,974.24, reached on April 5.
The 30-share Sensex gained 321 points to end at 26,430 and the 50-share Nifty surged 100 points to end at 7,879.
Sun Pharma emerged as the star performer and closed 4.03 per cent up at Rs 675.45, while Cipla rallied 1.58 per cent to Rs 592.60.
The broader markets underperformed benchmark indices as the BSE Mid-cap and Small-cap tumbled over 2%.
Oil & Natural Gas Corporation Ltd said it has not yet been granted clearance by government for acquiring equity stake in MRPL.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
Sensex ended up 11 points at 25,561 and the 50-share Nifty gained 16 points to end at 7,640.
Italy's Eni welcomed the Indian company. The other four partners have 60 days from date agreement.
Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.
Reliance Industries was the top Sensex gainer up 5.6% after the company reported better-than-expected net profit growth at 12% in the second-quarter aided hby higher gross refining margins.
The BSE IT sector, however, failed to snap a three-day losing streak and closed around 0.14 per cent lower.
At the same time, the Cabinet approved reducing government's stake in select PSUs such as IOC to below 51 per cent while continuing to retain management control.
The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
In its biggest acquisition till date, OVL, the overseas arm of Oil & Natural Gas Corp in November agreed to pay US energy giant ConocoPhillips about $5 billion for the 8.4 per cent stake in Kashagan, the biggest oilfield discovery in over four decades.
IT majors along with metal names Sesa Goa and Hindalco buck trend.
Some analysts have raised doubts on the wisdom of the recent deal. Though the Kashagan field has been under development for 12 years, involving an investment of almost $50 billion, the output isn't great. Even the earlier acquisition of Imperial Energy Corporation has not met the targets.
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances