The BSE Sensex closed 319.07 points higher at 83,535.34, up 0.38%, while the NSE Nifty gained 82.05 points, or 0.32%, to end at 25,574.35.
Broader indices joined the rally:
- Nifty MidCap 100 rose 0.47%
- Nifty SmallCap 100 added 0.35%
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Impact on the stock market
Sector-wise performance
- Nifty IT was the star performer, surging 1.62% on the back of strong global tech sentiment and a weaker rupee.
- Nifty Pharma gained 0.95%, supported by defensive buying.
- Nifty Auto, Energy, Metal, Consumer Durables, Oil & Gas, and Healthcare all ended in the green.
However, Nifty Media was down 1.04%, along with PSU Bank, FMCG, Realty, and Chemicals, which witnessed mild selling pressure.
| Sector/Index | Performance |
| IT & BPM sector | 1.62% |
| Healthcare sector | 0.13% |
| Oil & Gas sector | 0.21% |
| Real estate sector | 0.24% |
| PSU Bank in India | -0.14% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Infosys | 1,511.10 | 2.32 |
| HCL Tech | 1,539.80 | 1.81 |
| Bajaj Finance | 1,084.80 | 1.71 |
| Wipro | 240.26 | 1.59 |
| Grasim | 2,765.90 | 1.52 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Trent | 4,280.30 | -7.50 |
| Max Healthcare | 1,098.60 | -3.23 |
| TATA Cons. Prod | 1,143.70 | -2.01 |
| Apollo Hospital | 7,538.00 | -1.36 |
| Power Grid Corp | 268.40 | -1.32 |
Market aftermath: Impact on stocks
Balrampur Chini and Sugar Stocks Surge on Export Boost
The sweet story of the day came from the sugar sector. Shares of Balrampur Chini Mills jumped 5.3% to ₹455.6 after the Centre approved 1.5 million tonnes (MT) of sugar exports for the 2025–26 season and scrapped the 50% export duty on molasses.
Other sugar names followed suit — Shree Renuka Sugars and Bajaj Hindusthan gained 2.6%, while Dhampur Sugar Mills, Dwarikesh Sugar, and Uttam Sugar Mills rose between 1.9–3.7%.
The move is expected to ease domestic surplus caused by lower ethanol diversion. India’s sugar production for 2025–26 is projected at 34 MT, against domestic demand of 28.5 MT — giving producers an incentive to offload excess stocks overseas.
The policy clarity couldn’t have come sooner for a sector that’s seen Balrampur Chini shares fall 14% YTD, and even steeper drops for Renuka (-26%) and Bajaj Hindusthan (-30%). Monday’s rally was a much-needed sugar rush.
HAL Leads Defence Rally After GE Pact and Goldman’s Bullish View
The defence theme also grabbed attention. Hindustan Aeronautics Ltd (HAL) shares gained 3%, closing at ₹4,759, after the PSU signed a pact with General Electric (GE) to buy 113 engines for its Tejas fighter jets.
This move could accelerate production timelines, addressing earlier delays caused by slow engine supplies. HAL has already signed a deal to supply 97 additional Tejas Mk-1A aircraft worth ₹62,370 crore.
Adding fuel to the rally, Goldman Sachs turned “overweight” on Indian equities, projecting the Nifty 50 at 29,000 by December 2026 — a potential 14% upside. The brokerage highlighted defence, financials, consumer staples, and OMCs as key investment themes.
The Nifty Defence Index rose 1.4%, led by Dynamatic Technologies (+5%) and Garden Reach Shipbuilders (+4.5%).
Goldman also reiterated its bullish stance on private defence players like Solar Industries, Bharat Electronics, Data Patterns, and PTC Industries, citing India’s target to double defence exports to ₹50,000 crore by FY29.
Ashoka Buildcon Bags ₹539-Crore Railway Project
Infrastructure got a small but meaningful boost as Ashoka Buildcon shares rose 3% in early trade after winning a Letter of Acceptance (LoA) for a ₹539.35 crore Northern Railway electrification project in the Ajmer Division.
The project involves upgrading the traction system from 1×25 kV to 2×25 kV, enabling train speeds up to 160 km/h — a key modernization milestone for Indian Railways.
The project is expected to be completed in 24 months, adding to Ashoka Buildcon’s strong order book. The stock currently trades about 36% below its 52-week high, but the LoA gives the company renewed momentum ahead of its Q2 results announcement on November 14.
Crude Oil: Prices Climb on US Shutdown Relief Hopes
Oil prices ticked higher on Monday as optimism grew that the US government shutdown, now in its 40th day, could soon end — boosting demand in the world’s largest oil consumer.
- Brent crude rose 0.71% to $64.08 a barrel.
- WTI crude gained 0.80% to $60.23 a barrel.
Market optimism was fuelled by expectations of renewed government spending and consumer confidence once US federal operations resume. Analysts said this should improve overall risk sentiment across global markets.
However, the upside remains capped as OPEC+ agreed to raise output slightly in December, while pausing further hikes in Q1 2026 amid oversupply worries. Inventories are still climbing, with US crude stockpiles rising by 5.2 million barrels last week.
The mixed signals — between demand recovery and supply surplus — make oil’s trajectory a tug-of-war between geopolitics, refinery margins, and global demand trends.
Conclusion: Market Momentum Finds Its Feet Again
After a three-day losing streak, Monday’s rebound was a welcome sign that buyers still have conviction — especially in tech, pharma, and defence. With the global outlook improving and foreign investors selectively adding positions, the broader mood is cautiously optimistic.
Sugar exports, defence contracts, and infrastructure wins gave the market its flavour of the day — but more importantly, they signalled India’s underlying resilience across sectors.
As crude prices stabilise and policy clarity improves, investors may find more reasons to stay engaged. The short-term playbook? Follow strength, avoid noise, and let earnings do the talking.
For more stock market insights, check out the StockGro blog.
