Nifty 50 rose 257.70 points, or 1.11%, to 23,408.80
Sensex gained 939 points, or 1.26%, to 75,502.85
The late-session surge was important because it showed that buyers were willing to step in after recent declines. It was not a broad-based relief rally, though. The wider market remained under pressure.
Nifty MidCap ended 0.43% lower
Nifty SmallCap closed 0.65% lower
Impact On The Stock Market
The Nifty Auto index was the top performer among sectoral indices on the National Stock Exchange. Strong moves in large auto names gave the market much-needed support after recent pressure linked to energy and supply concerns.
The Nifty Financial Services index also outperformed, along with the Nifty Private Bank index. Since banks and financial stocks carry large index weights, even a moderate recovery in these names can lift the benchmarks sharply.
On the other hand, Nifty Realty underperformed its peers. That shows investors were still cautious about rate-sensitive and economically linked segments despite the headline index rebound.
| Sector/Index | Performance |
| IT & BPM sector | -0.10% |
| Healthcare sector | -1.37% |
| Oil & Gas sector | -1.58% |
| Real estate sector | -1.57% |
| PSU Bank in India | 0.61% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| UltraTechCement | 11,099.00 | 4.55 |
| M&M | 3,036.10 | 3.58 |
| Grasim | 2,654.40 | 3.34 |
| Trent | 3,596.10 | 3.11 |
| Eternal | 222.04 | 2.95 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Bharat Electronics | 429.50 | -2.25 |
| Max Healthcare | 970.60 | -1.96 |
| Coal India | 460.30 | -1.43 |
| ONGC | 260.45 | -1.38 |
| Wipro | 195.11 | -1.25 |
Market aftermath: Impact on stocks
IDBI Bank Crashes On Privatisation Uncertainty
One of the sharpest moves came from IDBI Bank, which tumbled after reports suggested that the government may scrap the ongoing majority stake sale because bids came in below the expected valuation.
The stock fell as much as 16% in early trade, dropping to ₹77.66.
The issue centres around the government’s long-running privatisation plan. The government and Life Insurance Corporation of India (LIC) had started the strategic disinvestment process in 2022, aiming to sell a combined 60.7% stake in the lender.
The current shareholding structure is:
- Government stake: 45.5%
- LIC stake: 49.2%
The proposed stake sale involved:
- 30.5% from the government
- 30.2% from LIC
Reported estimates had suggested the deal could fetch around ₹66,000 crore.
But now, according to reports, the bids did not meet the reserve price. If that happens, the current sale process may be halted and relaunched later when market conditions improve.
That possibility hit sentiment hard. Privatisation had been a major rerating trigger for the stock, so any delay or cancellation naturally led to a sharp reaction.
What makes this more striking is that IDBI Bank had gained about 9.2% over the last year, comfortably beating the Nifty 50’s 3.4% rise over the same period. Today’s fall shows how quickly the market reprices a stock when a key trigger gets questioned.
Bandhan Bank Hits Lower Circuit
Another banking stock that stayed under intense pressure was Bandhan Bank.
The stock hit the 10% lower circuit at ₹157.95, making it one of the biggest losers in the mid-cap space.
The trigger this time was different. Reports said Bandhan Financial Services, the promoter entity of the bank, is exploring options such as a stake sale or an IPO to facilitate exits for long-term institutional investors and align with regulatory shareholding norms.
The promoter group currently owns 39.74% stake in Bandhan Bank. The proposed move is aimed at helping investors such as:
- International Finance Corporation (IFC)
- GIC Ventures
find an exit route, while also allowing the promoter to optimise the ownership structure.
Jefferies has reportedly been brought in to explore these options and gauge investor interest, especially from private equity funds.
While such steps may make strategic sense in the long run, the market usually reacts nervously when it sees the possibility of stake dilution or a large ownership reshuffle. That is exactly what happened here.
The drop was especially sharp because the stock had been doing quite well earlier. Bandhan Bank had gained around 30% over the previous one year before this sudden fall.
Interestingly, the bank had also received a supportive development recently, with the Reserve Bank of India approving SBI Mutual Fund’s proposal to acquire up to 9.99% stake in February. But today, the promoter overhang took full control of sentiment.
Tejas Networks Surges On New 4G Order
While banking stocks faced heavy damage, Tejas Networks gave the market a strong positive stock-specific story.
The company’s shares rose up to 8% after it announced an order for its 4G radio access network solutions from a mobile network in South Asia. The order will see Tejas deploy its multiband radio products across multiple locations as part of a network expansion project.
At one point, the stock was trading around ₹441.8, up about 4%, and the broader trend remains strong. In fact, the stock has risen nearly 40% in the last two weeks.
This new project matters because it supports Tejas Networks’ effort to expand its international wireless client base. For a company trying to build scale in global telecom infrastructure, fresh overseas orders carry strong signalling value.
The company has also recently announced an agreement with NEC Corporation to manufacture and supply 5G massive MIMO radios, which further strengthens its positioning in advanced wireless infrastructure.
Tejas Networks operates in the 4G and 5G radio access network space, including 32TR and 64TR massive MIMO radios built to 3GPP and O-RAN standards. In plain language, this is exactly the kind of equipment that benefits from the global telecom upgrade cycle.
So while the broader market may still be selective, Tejas is clearly enjoying a strong momentum phase backed by real business updates.
Crude Oil
Even though Indian equities recovered today, the oil market remained tense.
Crude futures traded higher on Monday morning after the US attacked military assets on Kharg Island over the weekend. That raised concerns because Kharg Island is critical to Iran’s oil export system.
At around 9:59 am:
- May Brent crude futures were at $104.60 per barrel, up 1.42%
- WTI crude futures were at $97.80 per barrel, up 0.99%
On the MCX:
- March crude futures traded at ₹9,230, up 1.97%
- April crude futures traded at ₹9,141, up 2.21%
Oil briefly moved even higher, with ICE Brent touching $106.50 per barrel during the morning.
There are some cushioning measures in place. The International Energy Agency has detailed a record coordinated release of nearly 412 million barrels from emergency stockpiles, including 172 million barrels from the US Strategic Petroleum Reserve. But there is a catch: much of the meaningful supply from Europe and the Americas will only start coming later, while Asia gets immediate but smaller support.
That means the market is still worried about short-term tightness.
There was also fresh concern after a drone attack temporarily suspended loading operations at Fujairah port in the UAE, although operations reportedly resumed later.
So the message from oil is still clear: even if strategic reserves help, supply risks in and around the Strait of Hormuz remain large enough to keep markets on edge.
Conclusion
Today’s session gave benchmark investors some relief, with the Sensex rising 939 points to 75,502.85 and the Nifty 50 gaining 257.70 points to 23,408.80. Autos and financials carried the recovery, helping the indices end a three-day losing streak.
But the broader picture was more mixed.
Mid-cap and small-cap indices still fell. IDBI Bank crashed on privatisation uncertainty. Bandhan Bank hit lower circuit on promoter stake-sale concerns. At the same time, Tejas Networks surged on a fresh international 4G order.
So while the headline market looked strong, the day was really about selective buying, sharp stock-specific reactions, and a market that is still very sensitive to global energy risk.
That means the rebound is encouraging — but it is not yet a full return of confidence.
