The BSE Sensex inched up just 12.16 points (0.01%) to close at 84,478.67, while the Nifty50 added only 3.35 points (0.01%) to end at 25,879.15.
Broader markets, however, stayed weak:
- Nifty Midcap 100: down 0.35%
- Nifty SmallCap 100: down 0.37%
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Impact on the stock market
Sector-wise performance
Sectoral moves were mixed, with some pockets showing strength despite the overall flat trade.
The gainers of the day were:
- Nifty Metal: +0.44%
- Nifty Pharma: +0.41%
- Nifty Realty: +0.42%
On the other hand, Nifty PSU Bank saw the sharpest drop, falling 0.68% as profit-booking hit state-run lenders after their recent rally.
| Sector/Index | Performance |
| IT & BPM sector | -0.48% |
| Healthcare sector | 0.18% |
| Oil & Gas sector | -0.11% |
| Real estate sector | 0.42% |
| PSU Bank in India | -0.68% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Asian Paints | 2,879.40 | 3.96 |
| Hindalco | 811.95 | 2.21 |
| ICICI Bank | 1,385.90 | 1.99 |
| Interglobe Avi | 5,905.50 | 1.90 |
| Larsen | 4,002.50 | 1.21 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Eternal | 297.75 | -3.58 |
| M&M | 3,699.50 | -1.46 |
| ONGC | 250.85 | -1.18 |
| Bharat Elec | 419.80 | -1.17 |
| Trent | 4,326.40 | -1.13 |
Market aftermath: Impact on stocks
Alkem Laboratories: Profit up but stock slips
Alkem Labs posted a strong set of numbers for Q2, reporting an 11% YoY jump in consolidated net profit, rising to ₹779 crore from ₹702 crore last year.
Revenue saw a healthy boost as well, climbing to ₹4,001 crore, up from ₹3,415 crore in the same quarter last year. Growth was broad-based across India, the US, and key international markets.
Surprisingly, despite the solid results, the stock ended 0.87% lower at ₹5,715 on the BSE. Investors likely booked profits after the recent up move, or were cautious given overall pharma sector volatility.
Axiscades: Profit nearly doubles on strong revenue growth
Axiscades delivered one of the most impressive earnings surprises of the day. The company’s Q2 consolidated net profit jumped 2x, rising to ₹23 crore from ₹12 crore a year ago.
Revenue from operations increased 13% YoY, coming in at ₹299 crore, compared to ₹265 crore last year.
For the first half of FY26 (April–September), Axiscades has already clocked ₹543 crore in revenue, signalling strong execution and growing demand for its engineering and tech solutions.
Muthoot Finance: Big profit surge and a massive fundraise plan
Muthoot Finance reported a blockbuster Q2 with a massive 87.4% YoY rise in standalone profit, coming in at ₹2,345 crore, compared to ₹1,251 crore in the same quarter last year.
The jump was driven by higher gold loan demand amid rising gold prices. The company also saw its net interest income (NII) shoot up 58.5% to ₹3,991 crore, from ₹2,518 crore a year ago.
In a major move, the board approved raising ₹35,000 crore through Non-Convertible Debentures (NCDs) via private placement. This fundraise indicates aggressive growth planning as competition in gold financing intensifies.
Crude oil: OPEC+ signals surplus, prices soften
Crude oil prices dipped on Thursday after the OPEC+ Monthly Oil Market Report pointed to a global supply surplus in 2025.
As of 9:57 am:
- Brent January futures: $62.67, down 0.06%
- WTI December futures: $58.41, down 0.14%
On the MCX:
- November crude oil: ₹5,191, down 0.13%
- December crude oil: ₹5,217, down 0.11%
The report highlighted:
- Non-OPEC+ liquids production expected to rise by 0.9 million barrels/day in 2025, led by the US, Brazil, Canada, and Argentina.
- Demand growth staying steady at 1.3 million barrels/day in 2025 and 1.4 million barrels/day in 2026.
- Demand for OPEC+ crude in 2026 revised down slightly to 43 million barrels/day.
Meanwhile, natural gas prices rose 0.85% to ₹401.50 on the MCX.
In agri-commodities:
- Guargum (Nov): ₹8,504 (+0.33%)
- Turmeric (Dec): ₹14,900 (-0.88%)
The muted action in crude reflects stabilising demand expectations paired with rising supply — a combo that keeps oil prices under pressure.
Conclusion
Thursday’s market was a classic “nothing much on the indices but plenty happening under the surface” kind of day. The headline numbers were flat, but individual stocks told very different stories.
While Alkem Labs and Axiscades delivered steady to strong growth, Muthoot Finance stole the show with a near-doubling of profits and a huge fundraise plan. Sectoral action stayed mixed, with metals, realty, and pharma showing strength, even as PSU banks took a breather.
Global cues around oil, supply projections, and cautious macro signals kept the markets from breaking out. As the earnings season continues, traders are watching whether the market will sustain this consolidation — or build momentum for its next decisive move.
For more stock market insights, check out the StockGro blog.
