Sensex climbed 676 points (0.8%) to 81,274 after touching an intra-day high of 81,766.
Nifty 50 advanced 246 points (1%) to 24,877, briefly crossing the psychological 25,000 mark to hit 25,022.
In the broader market, Nifty MidCap and SmallCap indices rose up to 1.5% each, signalling widespread bullish sentiment.
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Impact on the stock market
Sectoral performance highlighted where investor enthusiasm was strongest:
- Nifty Auto surged 4%, making it the top-performing index.
- Nifty Consumer Durables gained 3.5%.
- Nifty Realty jumped 2%.
- Nifty IT, however, slipped 0.5%, weighed down by profit booking.
| Sector/Index | Performance |
| IT & BPM sector | -0.55% |
| Healthcare sector | 0.07% |
| Oil & Gas sector | 0.30% |
| Real estate sector | 2.17% |
| PSU Bank in India | 0.39% |
Top gainers today
| Company | Price (in ₹) | Change % |
| Maruti Suzuki Share Price | 14,090.00 | 8.92 |
| Hero Motocorp Share Price | 4,989.20 | 5.97 |
| Nestle Share Price | 1,146.50 | 5.24 |
| Bajaj Finance Share Price | 905.40 | 5.10 |
| Bajaj Auto Share Price | 8,594.00 | 4.63 |
Top losers today
| Company | Price (in ₹) | Change % |
| ITC Share Price | 405.70 | -1.40 |
| Eternal Share Price | 314.40 | -1.26 |
| Tech Mahindra Share Price | 1,470.50 | -1.09 |
| Larsen Share Price | 3,640.00 | -1.01 |
| NTPC Share Price | 336.10 | -0.96 |
Market aftermath: Impact on stocks
Mahindra & Mahindra rides GST hopes and Vision 2027
Automobile giant M&M surged 5% to ₹3,432 after reports that policymakers are weighing a uniform 18% GST on entry-level two-wheelers, compact cars, and hybrids, down from today’s 28–31%. Luxury cars and SUVs would likely stay taxed at ~40%.
The move could slash ownership costs for middle-class buyers and trigger demand across the auto supply chain. Brokerages flagged M&M as one of the top winners. Adding to the buzz, M&M also unveiled its Vision 2027 SUV strategy, showcasing four futuristic concept SUVs (Vision S, Vision T, Vision SXT, Vision X) slated for production from 2027. The stock is already up 12% in 2025 and continues to draw bullish calls.
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Vodafone Idea posts narrower losses, stock rebounds
Vodafone Idea finally gave investors some respite, rallying 8.5% to ₹6.68 after announcing its Q1FY26 results.
- Net loss: ₹6,608 crore, narrower than Q4’s ₹7,166 crore.
- Revenue: ₹11,022 crore, up 5% YoY, flat sequentially.
- ARPU: ₹177 vs. expectations of ₹167.
- Subscribers: Down only 0.5 million vs. 1.6 million in Q4FY25.
Motilal Oswal noted that losses were smaller than expected, while UBS maintained a Neutral stance with a target price of ₹8.5. Still, despite today’s jump, the stock is down 21% in 2025 and almost 60% over the past year – underlining the challenges ahead.
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Glenmark Pharma disappoints with weak Q1
Glenmark Pharmaceuticals tumbled nearly 4% to ₹1,985 after reporting an 86% YoY drop in net profit for Q1FY26.
- Net profit: ₹46.8 crore vs. ₹340.2 crore last year.
- Revenue: ₹3,264 crore, flat YoY.
- India formulations: +4% YoY, trailing market growth of 7–8%.
- Consumer health segment: +20% growth, a bright spot.
- US revenues: $91 million, sequential growth on a low base.
Exceptional charges of ₹320 crore related to litigation dragged profits sharply lower. Nomura called it an “all-round miss”, keeping a neutral rating with a target price of ₹1,500.
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Crude oil: Political drama drives sentiment
Global oil markets stayed cautious ahead of a high-profile Trump–Zelenskyy meeting in Washington, following Trump’s weekend talks with Putin.
- Brent October futures: $65.88 (+0.05%).
- WTI September futures: $62.09 (+0.18%).
In India:
- MCX crude oil August futures fell 1.75% to ₹5,502.
- September crude oil futures dropped 1.57% to ₹5,450.
- Natural gas August futures edged up 0.68% to ₹250.
- Guargum contracts gained 1.25% to ₹9,643.
- Turmeric futures fell 2.16% to ₹12,400.
Analysts at ING Think noted that while sanctions risks have eased temporarily, bearish fundamentals like oversupply are likely to dominate oil prices in the near term.
Conclusion
The Indian market began the week with a strong bullish tone, with Sensex and Nifty rallying on GST reform hopes. Autos, consumer durables, and realty led the charge, while select corporates added drama – from M&M’s Vision 2027 unveiling to Vodafone Idea’s narrower losses and Glenmark’s disappointing earnings.
But even as domestic sentiment cheers policy reforms, global cues – especially crude oil volatility and geopolitical tensions – remain key risks. For now, though, markets are betting that GST reforms could set the stage for a bigger Diwali rally in 2025.
For more stock market insights, check out the StockGro blog.
