The Nifty50 surged 277 points (1.18%) to close at 23,689.60, while the Sensex climbed 789.74 points (1.06%) to settle at 75,398.72.
Broader markets also showed resilience:
Nifty MidCap gained 1.12%
Nifty SmallCap remained almost flat, slipping just 0.01%
Impact On The Stock Market
Sector-wise, defensive and commodity-linked sectors drove the rally.
Top Gainers
- Nifty Pharma emerged as the best-performing sector.
- Nifty Healthcare also witnessed strong buying interest.
- Nifty Metal rallied as investors shifted towards commodity-linked plays amid global uncertainty.
Top Losers
- Nifty IT declined the most and extended losses for the fourth straight session.
The broader market trend suggests investors are rotating away from technology stocks and moving towards sectors offering stronger near-term earnings visibility and defensive positioning.
| Sector/Index | Performance |
| IT & BPM sector | -1.99% |
| Healthcare sector | 2.56% |
| Oil & Gas sector | 0.04% |
| Real estate sector | 0.77% |
| PSU Bank in India | 1.37% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Adani Enterprise | 2,712.90 | 8.60 |
| Cipla | 1,436.70 | 8.22 |
| Bharti Airtel | 1,883.50 | 5.27 |
| Eternal | 245.82 | 3.36 |
| Dr Reddys Labs | 1,303.60 | 3.03 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Infosys | 1,095.00 | -2.50 |
| Tech Mahindra | 1,343.40 | -2.30 |
| Coal India | 454.05 | -1.77 |
| HCL Tech | 1,124.00 | -1.68 |
| TCS | 2,246.00 | -1.18 |
Market aftermath: Impact on stocks
JSW Steel Profit Jumps on One-Time Gain
JSW Steel reported a massive jump in quarterly profit, with net profit surging to ₹19,243 crore from ₹1,501 crore last year. Revenue also grew 14% to ₹51,180 crore. However, the sharp rise was largely driven by a one-time gain of ₹18,051 crore from the sale of Bhushan Power and Steel’s operations to the JSW JFE Steel joint venture. The company also announced a final dividend of ₹7.10 per share. Investors reacted positively to the stronger balance sheet and strategic restructuring move.
TVS Motor Faces Margin Pressure Despite Strong Sales
TVS Motor Company slipped nearly 2% despite reporting strong growth in sales and profit. The company posted a 17.5% rise in quarterly net profit to ₹820 crore, while revenue increased sharply to ₹15,053 crore. However, rising raw material and shipping costs linked to Middle East tensions raised concerns around future margins. Brokerages also flagged slower sales growth expectations for FY27 and increasing capital expenditure pressures, which kept investor sentiment cautious.
IT Stocks Continue to Slide on AI Concerns
Indian IT stocks remained under heavy pressure for the fourth consecutive session as fears around AI-led disruption intensified after OpenAI announced a new enterprise-focused AI deployment company.
Stocks like:
- Persistent Systems
- HCL Technologies
- Tech Mahindra
fell up to 5%, while the overall Nifty IT index declined nearly 3%.
Investors are increasingly worried that AI could compress margins, reduce headcount-driven business models and slow discretionary spending by global clients. However, analysts also believe Indian IT firms have historically adapted well to technological shifts and may eventually pivot towards higher-value AI integration opportunities.
Crude Oil
Crude oil prices traded slightly higher as global markets remained focused on the highly anticipated meeting between US President Donald Trump and Chinese President Xi Jinping. Brent crude hovered near $106 per barrel, while WTI crude traded around $101, as investors hoped diplomatic progress could eventually help stabilise tensions in West Asia and restore energy flows through the Strait of Hormuz.
However, supply concerns continue to remain elevated due to declining global inventories, lower OPEC production and ongoing disruption in oil transportation routes. According to the International Energy Agency, global oil supply fell by 1.8 million barrels per day in April, while inventories dropped sharply, keeping prices elevated despite weaker demand forecasts.
Conclusion
Today’s market rebound reflected improving investor sentiment in selective sectors like pharma, healthcare and metals, even as IT stocks continued to face pressure from AI-related concerns. Strong earnings from companies such as JSW Steel also supported the rally, helping Sensex and Nifty recover sharply after recent volatility.
However, global uncertainty around crude oil prices, geopolitical tensions and slowing global demand still remains a key risk for markets. Going forward, investors will closely track developments around US-China discussions, oil price movement and how sectors adapt to changing global trends.
