Benchmark indices recovered after RBI announced a repo rate cut by 50 bps to prop up growth. Market experts believe that RBI’s and 100 bps cut in CRR is a great relief to the markets.
According to Devarsh Vakil, Head of Prime Research at HDFC Securities, this would infuse roughly ₹2.5 lakh crore liquidity in the system by November, which should directly support bank margins during 2HFY26. This will help in enriching and sustaining the growth momentum, and facilitate private investment.
On the global front, external headwinds, including US tariff policies, global trade tensions, sluggish worldwide growth, and geopolitical risks, continue to pressure domestic growth prospects.
Sensex traded 697.68 points or 0.86 per cent higher at 82,139.72 as at 12.41 pm (hitting a high of 82,299.89 intra-day), and Nifty 50 traded 232.40 points or 0.94 per cent positive at 24,983.30.
The midcap index outperformed the smallcap. The Nifty midcap 100 rose 0.92 per cent, while smallcap 100 inched up 0.69 per cent. Volatility index was down over 1 per cent to 14.87.
The Nifty Bank index soared 832.40 points or 1.49 per cent to 56,593.25.
On the sectoral front, banking, financials, realty, metal and auto indexes outperformed, while media, pharma and FMCG dipped.
Top gainers & losers intraday
Shares of , Bajaj Finance, JSW Steel, Bajaj Finserv and Maruti led the gainers of Nifty 50 in mid-trading session, while , HDFC Life, Sun Pharma, Apollo Hospitals and Bharti Airtel slipped to trade as major laggards.
Among banking stocks: IDFC First Bank zoomed 8 per cent, Axis Bank, IndusInd, HDFC Bank soared 2-4 per cent.
Nearly 1,597 stocks advanced and 1,171 declined of all the 2,863 stocks that were traded on the National Stock Exchange at the time of writing.
Shares of and Wealth First Portfolio were among the 76 stocks that hit upper circuit, while 47 stocks such as Zen Tech, Aditya Birla Money hit lower circuit.
85 stocks such as Abbott India, AstraZeneca, Bajaj Holdings, BEL, BSE and hit 52-week high and 13 stocks hit 52-week low.
Midcap & smallcap movers
, , HDFC AMC, Godrej Properties and Prestige Estate shares gained 5-8 per cent among midcap index, while Bharti Hexacom, Solar Industries, Supreme Industries declined 2-3 per cent.
Among the smallcap bucket, Aditya Birla Real Estate, MCX, RBL Bank and Sobha shares soared 6-7 per cent. On the losing side were Jyoti CNC Automation, Zen Tech, MMTC, GRSE and Railtel.
On the BSE, Neuland, RK Forge, Godrej Industries, Bajaj Holdings and Ujjivan Small Finance Bank zoomed 8-10 per cent. Meanwhile Azad Engineering, Jyoti CNC, Hitachi Energy, Zen Tech and GRSE depreciated 4-8 per cent.