The Sensex closed at 83,817.69, up 78.56 points (0.09%), while the Nifty 50 ended at 25,776.00, gaining 48.45 points (0.19%). Despite opening lower, both indices managed to finish the day in the green, helped by optimism following India’s Economic Survey, which projected India’s GDP growth at 6.8–7.2% for FY27.
The Nifty Midcap 100 rose 0.63%, and the Nifty Smallcap 100 surged 1.27%, suggesting that investors are favouring small-cap and mid-cap stocks as they look for growth beyond the major index stocks.
Impact on the stock market
Sector-wise performance
Nifty IT: A sharp 6% drop, primarily due to global concerns regarding AI’s effect on the software sector.
Nifty CPSE Index: +5%, led by coal and PSU stocks.
Nifty Metal Index: +2.3%, supported by strong earnings from Tata Steel.
Nifty Oil & Gas: +2%, buoyed by oil price gains and strong performance from ONGC.
Nifty Pharma & FMCG: Both sectors saw a slight pullback, with the Nifty Pharma down 0.34%.
| Sector/Index | Performance |
| IT & BPM sector | -5.87% |
| Healthcare sector | -0.13% |
| Oil & Gas sector | 2.08% |
| Real estate sector | 1.12% |
| PSU Bank in India | 0.77% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Eternal | 294.15 | 5.13 |
| Trent | 4,012.60 | 4.96 |
| ONGC | 266.95 | 3.87 |
| NTPC | 367.25 | 2.43 |
| Adani Ports | 1,567.90 | 2.42 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Infosys | 1,535.80 | –7.26 |
| TCS | 2,999.10 | -7.01 |
| HCL Tech | 1,621.80 | -4.34 |
| Tech Mahindra | 1,645.30 | -4.15 |
| Wipro | 233.34 | -3.85 |
Market aftermath: Impact on stocks
Tata Motors: Flat profit but strong revenue growth
Tata Motors reported a flat net profit of ₹705 crore, a 48% YoY decline primarily due to exceptional costs associated with stamp duty and labour code charges. However, the company posted a 16% increase in revenue to ₹21,847 crore, benefiting from strong domestic sales of commercial vehicles, which grew 22% YoY.
Despite the one-time costs, the company’s operating margin improved to 12.60%, and Tata Motors remains optimistic for Q4 FY26, forecasting continued demand growth driven by government infrastructure spending.
Swiggy: Losses widen despite strong growth in Instamart
Swiggy reported a net loss of ₹1,065 crore for Q3FY26, a 33% YoY increase, but this was offset by a 54% rise in revenue, which reached ₹6,148 crore. The company’s quick-commerce arm, Instamart, showed 74% revenue growth, while the overall food delivery business rose 22%.
The platform’s average monthly users grew 37% YoY, but continued high investments and expanding operational costs still resulted in heavy losses, raising questions about the sustainability of its business model despite strong growth.
Coal India & BCCL: A surge in shares as coking coal declared a “critical mineral”
Shares of Coal India (+3%) and Bharat Coking Coal (BCCL) (+5%) soared after the government declared coking coal a “critical and strategic mineral”. This move is expected to streamline approvals, reduce import dependency, and accelerate mining activities, particularly in India’s steel sector.
The designation will likely reduce India’s reliance on foreign imports of coking coal, which currently stands at 95% of the sector’s requirement. This government action further strengthens PSU stocks, leading to gains in the Nifty CPSE index.
Crude oil: Price rise amid US-Iran tensions
Crude oil futures saw a notable 1% rise on Thursday, driven by escalating geopolitical concerns between the US and Iran.
- Brent (April): $68.19 (+1.22%)
- WTI (March): $64.11 (+1.42%)
- MCX (Feb): ₹5,910 (+1.86%)
The price surge comes after US President Donald Trump warned of military action against Iran if a new nuclear deal is not reached, raising fears of supply disruptions. Meanwhile, US EIA data showed a 2.3 million barrel drop in inventories, adding to the supply-side concerns and keeping oil prices elevated.
Conclusion
The market saw modest gains on Wednesday, supported by a strong Economic Survey, positive developments in the coal sector, and strong performance in metal and oil stocks. However, concerns in IT and BPO stocks highlighted the volatility in tech-driven industries, especially with AI-related disruptions making investors jittery.
With strong domestic demand across sectors like commercial vehicles and quick commerce, but ongoing challenges with high operational costs and global supply concerns, the market appears to be in a wait-and-watch mode as investors brace for the upcoming Union Budget.
For now, sector rotation and small-cap stocks look like the main drivers, while geopolitical tensions could continue to add volatility to the market.
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