BSE Sensex: 82,814.71, up 316.57 points (+0.38%)
NSE Nifty 50: 25,571.25, up 116.90 points (+0.46%)
However, broader markets painted a mixed picture:
- Nifty Midcap: down 0.43%
- NSE Smallcap: up 0.29%
Impact on the stock market
Sector-wise performance
Top Performing Sectors
- Nifty PSU Bank: up 1.36%
- Nifty MidSmall Healthcare: up 1.03%
Public sector banks continue to benefit from improving asset quality, steady credit growth and attractive valuations. Healthcare stocks, on the other hand, gained traction amid expectations of stable earnings and defensive positioning.
Underperformers
- Nifty IT: worst performer of the day
- Nifty Chemicals: followed closely behind
Despite global relief on tariffs, analysts warn that uncertainty around US trade policy may still weigh on export-oriented sectors such as textiles, pharmaceuticals, gems and machinery. Even when tariff programmes are struck down, the unpredictability around global trade creates caution among exporters and investors alike.
| Sector/Index | Performance |
| IT & BPM sector | -1.42% |
| Healthcare sector | 0.49% |
| Oil & Gas sector | 0.49% |
| Real estate sector | -0.19% |
| PSU Bank in India | 1.36% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Adani Ports | 1,555.80 | 2.93 |
| Kotak Mahindra | 430.70 | 2.22 |
| Dr Reddys Labs | 1,307.40 | 2.11 |
| HDFC Life | 742.45 | 1.89 |
| Nestle | 1,315.10 | 1.65 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Hindalco | 916.20 | –2.08 |
| Infosys | 1,327.50 | -1.90 |
| Wipro | 205.89 | -1.89 |
| Tech Mahindra | 1,440.90 | -1.10 |
| Cipla | 1,326.50 | -1.09 |
Market aftermath: Impact on stocks
Dixon Technologies Slides As DRAM Prices Surge
Shares of Dixon Technologies fell over 3%, touching an intraday low of ₹10,645. The stock has declined for five consecutive sessions and is down more than 9% over this period.
Morgan Stanley maintained an ‘Underweight’ rating with a target price of ₹8,157, signalling downside risk. The concern centres around a sharp spike in Dynamic Random Access Memory (DRAM) prices.
Key numbers:
- DRAM spot prices are up 6.8 times year-on-year
- Average mobile DRAM prices for LPDDR4 and LPDDR5 have risen 55% and 64% quarter-on-quarter
- Expected rise in Q1CY26: 88–93%
- Further increase expected in Q2CY26: 20–25%
Nearly 75% of India’s smartphone market is priced below USD 300, making it highly sensitive to component inflation. Higher memory prices could squeeze margins in an already muted demand environment.
The weakness also spilled over:
- Kaynes Technology fell 1.15%
- PG Electroplast dropped 1.64%
For investors, this highlights a simple reality: even in a rising market, stocks exposed to rising input costs can face pressure.
Pine Labs Gains On Multi-Year OMC Contracts
In contrast, Pine Labs rose over 3%, trading around ₹208.72 after announcing multi-year contracts with three major oil marketing companies:
- Bharat Petroleum Corporation Limited
- Hindustan Petroleum Corporation Limited
- Indian Oil Corporation Limited
Under the agreements, Pine Labs will deploy and maintain nearly 1.3 lakh digital payment devices across petrol pumps and merchant outlets nationwide.
For Indian Oil, Pine Labs will also manage the XTRAPOWER loyalty platform, used by fleet operators for fuel management and digital payments.
The development strengthens Pine Labs’ footprint in India’s fuel retail ecosystem and adds predictable revenue visibility over the contract period. In a market looking for earnings clarity, that matters.
Adani Ports Rallies On Iron Ore MoU
Adani Ports and Special Economic Zone jumped 2.5%, emerging as a top Nifty gainer. The stock touched an intraday high of ₹1,549, and has gained nearly 45% over the past year, outperforming the Nifty’s 13.7% rise.
The rally followed a memorandum of understanding signed with:
- NMDC Limited
- Vale S.A. (Brazil)
The agreement aims to develop an iron ore blending and export ecosystem at Gangavaram Port.
Key highlights:
- Capacity expansion to 75 million metric tonnes
- Infrastructure capable of handling large Valemax vessels
- Integrated special economic zone-based ecosystem
With India looking to strengthen mineral exports and logistics efficiency, this move positions Gangavaram as a major hub on the east coast. For Adani Ports, it reinforces its dominance in mineral logistics and port-led infrastructure.
Crude Oil: Prices Ease On Diplomatic Hopes
Crude oil prices traded lower as markets anticipated progress in the third round of talks between the US and Iran on the nuclear programme.
Morning prices:
- Brent crude (May): $70.40, down 1.26%
- WTI crude (April): $65.53, down 1.43%
- MCX crude (March): ₹5,967, down 1.49%
- MCX crude (April): ₹5,980, down 1.47%
The talks are being mediated by Oman, with both sides signalling openness to diplomacy. If tensions ease, oil supply disruptions may be avoided.
However, uncertainty remains around US trade policy. After the Supreme Court struck down earlier tariffs, fresh levies were imposed — initially 10% for 150 days, later raised to 15%. Trade instability could impact global growth and, in turn, demand for commodities.
Other commodity moves:
- Natural gas (MCX March): up 1.37%
- Cottonseed oilcake: up 0.58%
- Jeera futures: down 1.30%
Oil remains one of the biggest macro variables for India, influencing inflation, currency stability and corporate margins.
Conclusion
Indian markets extended gains for a second straight session, with the Sensex closing at 83,294.66 (+0.58%) and the Nifty at 25,713 (+0.55%). PSU banks and healthcare stocks led the rally, reflecting confidence in domestic growth themes and defensive positioning. However, technology stocks struggled under the weight of rising memory prices, and tariff uncertainty continues to hang over exporters.
Meanwhile, Pine Labs benefited from contract wins, Adani Ports rallied on infrastructure expansion, and crude oil softened on diplomatic hopes.The broader message is clear: markets are moving higher, but selectively. Investors are rewarding earnings visibility and domestic stability while staying cautious about global trade risks and cost pressures.
For more stock market insights, check out the StockGro blog.
