Equity benchmarks observed a slight uptrend during afternoon trading on Thursday, recovering from a subdued opening. The rally was attributed to a significantly weaker rupee and heightened expectations for a potential interest rate cut by the U.S. Federal Reserve next week, which bolstered information technology stocks.
Market analysts are also closely monitoring the outcome of the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting scheduled for this week.
The Sensex increased by 106.86 points, or 0.13%, reaching 85,213.67, following a dip to 84,949.98 earlier in the day. The Nifty 50 rose by 37.10 points, or 0.14%, to 26,023.10 at 12:41 PM, rebounding from an intraday low of 25,938.95.
While the midcap index posted modest gains, the smallcap index experienced a decline. Sector performance was mixed. Media, pharmaceutical, and healthcare stocks underperformed, whereas the IT sector led the gains, climbing over 1.6% at the reporting time. All other sectoral indices exhibited minimal gains.
IT Stocks Lead the Market
Notable gainers in the Nifty 50 included Tech Mahindra, TCS, HCL Technologies, Adani Enterprises, Wipro, and Infosys. In contrast, major laggards comprised InterGlobe Aviation, Maruti, Eternal, Kotak Mahindra Bank, and Dr. Reddy’s Laboratories. InterGlobe Aviation’s shares came under scrutiny due to significant flight cancellations and widespread service disruptions stemming from crew shortages and new pilot duty rest regulations.
Another stock drawing attention was JSW Steel, following announcements regarding its joint venture with Japan’s JFE Steel Corporation.
Vedanta and Hero Motocorp Hit 52-Week Highs
Overall market breadth was fairly balanced, with 3,057 stocks traded on the National Stock Exchange; 1,499 advanced while 1,456 declined, and 102 remained unchanged. A total of 22 stocks, including Vedanta, Hero Motocorp, and Asian Paints, reached 52-week highs, whereas 165 stocks, such as Colgate and Teamlease, fell to 52-week lows, indicating certain pressures despite the general recovery.
Circuit activity was moderate, with 52 stocks hitting upper circuit limits and 51 stocks in lower circuits.
Midcap Index Shows Gains Led by Coforge and Persistent Systems
Among midcap stocks, Coforge, Persistent Systems, Policy Bazaar, IndusInd Bank, and Mphasis saw gains of 2-3%. Conversely, Hitachi Energy and Biocon suffered declines exceeding 5%. Other notable losers included M&M Financial, Suzlon, and HUDCO.
In the smallcap segment, stocks such as Hindustan Copper, BLS International, JB Chemicals, Five-Star Business, and CAMS surged by 2-6%, while Wockhardt, Ola Electric, Kaynes, and HBL Engineering fell by 2-5%.
On the Bombay Stock Exchange (BSE), PC Jeweller, Banco Products, Hindustan Copper, and India Cements recorded increases of 6-8%.
The market remains poised for further developments, particularly in light of the RBI’s upcoming policy decisions.
Published on December 4, 2025
