Summary
Indian markets declined on Thursday as metal, banking, and cement stocks dragged benchmarks lower, with Sensex falling 539.35 points to 76,933.59 and Nifty50 dropping 116.90 points to 24,090.85.
Nifty Cement fell over 1% and underperformed, while Nifty Pharma, Nifty Private Bank, and Nifty Realty remained stronger during the session.
Wipro gained attention after expanding its AI partnership with Google Cloud, while Imagicaaworld Entertainment hit a 20% upper circuit at Rs 60.21 after receiving a Buy rating from PL Capital.
HDFC Bank touched a 52-week low of Rs 710 after a US securities lawsuit report, while crude oil declined as Strait of Hormuz diplomacy eased supply concerns.
The Sensex declined 539.35 points or 0.70% to close at 76,933.59, while the Nifty50 fell 116.90 points or 0.48% to settle at 24,090.85.
The broader market also witnessed mild weakness:
Nifty MidCap declined 0.10%
Nifty SmallCap declined 0.13%
Impact on the stock market
Sectoral performance remained mixed, with commodity-linked and financial stocks facing selling pressure.
- Nifty Cement declined over 1%, emerging as the biggest sectoral loser during the session.
- Nifty PSU Bank and metal stocks also remained under pressure, contributing to the decline in benchmark indices.
- Nifty Pharma, Nifty Private Bank, and Nifty Realty outperformed, providing some stability to the market.
| Sector/Index | Performance |
| IT & BPM sector | -0.32% |
| Healthcare sector | 0.73% |
| Oil & Gas sector | -0.80% |
| Real estate sector | -0.06% |
| PSU Bank in India | -0.94% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Adani Enterprise | 3,169.00 | 1.83 |
| Kotak Mahindra | 424.20 | 1.80 |
| Adani Ports | 1,714.00 | 1.33 |
| Cipla | 1,420.00 | 1.23 |
| Bharat Elec | 411.00 | 1.01 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Hindalco | 1,024.00 | -2.75 |
| HDFC Bank | 711.00 | -2.23 |
| M&M | 3,330.00 | -2.01 |
| Shriram Finance | 1,101.00 | -1.48 |
| HCL Tech | 1,282.00 | -1.27 |
Market aftermath: Impact on stocks
Wipro gains after expanding AI partnership with Google Cloud
Wipro ADRs rose nearly 5% in pre-market trading in New York after the company announced an expanded partnership with Google Cloud to accelerate enterprise-wide AI adoption.
The partnership focuses on scaling Gemini Enterprise and agentic AI solutions for businesses. The development reflects the growing demand for artificial intelligence capabilities as companies increasingly invest in automation, cloud platforms, and digital transformation.
The positive reaction in Wipro’s overseas-listed shares highlights investor interest in IT companies that are building long-term AI capabilities.
Imagicaaworld shares hit upper circuit on positive outlook
Imagicaaworld Entertainment shares surged 20% to hit the upper circuit at Rs 60.21, touching a fresh 52-week high. The stock has gained nearly 26% in the last five trading sessions amid improved investor confidence.
The rally came after PL Capital initiated a ‘Buy’ rating on the stock, supporting optimism around the company’s expansion plans. The strong momentum also marked the fifth consecutive session of gains for the company.
Investors are closely tracking the revival of India’s entertainment and leisure sector, which has benefited from increasing domestic tourism and consumer spending.
HDFC Bank shares fall over 2% after legal concerns
HDFC Bank shares declined over 2% to touch a 52-week low of Rs 710 following reports of a securities fraud lawsuit filed in the US against the bank and two senior executives.
The complaint alleges violations of American securities laws related to disclosures and governance practices. The case was filed by an investor in the US District Court for the Southern District of New York.
However, HDFC Bank stated that such shareholder lawsuits are common in the US after stock price declines and said the claims are without merit. The bank added that it would defend itself strongly.
Crude oil and commodity trends
Crude oil prices declined on Thursday as diplomatic efforts around the Strait of Hormuz improved hopes of easing supply concerns.
Key crude oil movements:
- Brent crude: $86.59 (-0.40%)
- WTI crude: $81.89 (-0.41%)
- MCX September crude: ₹7,838 (-0.75%)
- MCX October crude: ₹7,735 (-0.76%)
Markets tracked discussions involving Qatar, Iran, and Oman regarding the future of the Strait of Hormuz, a crucial route for global oil shipments. Expectations of a diplomatic resolution reduced immediate supply disruption fears.
US crude inventories showed a marginal increase:
- US commercial crude inventories rose by 0.1 million barrels to 428.9 million barrels.
- Gasoline inventories declined by 2.5 million barrels.
- Distillate inventories fell by 2.2 million barrels.
Other commodity movements:
- September zinc futures: ₹418.40 (+1.11%)
- October turmeric futures: ₹19,172 (-1.45%)
- September guargum futures: ₹11,940 (-0.78%)
Conclusion
Thursday’s session reflected a cautious market environment as sector-specific weakness outweighed positive corporate developments.
Key takeaways:
- Benchmarks: Sensex declined 539 points, Nifty50 fell 116 points
- Weak sectors: Cement, metals, PSU banks
- Strong sectors: Pharma, private banks, realty
- Stock highlights: Wipro gained on AI partnership expansion, Imagicaaworld hit a 20% upper circuit, while HDFC Bank faced pressure after legal concerns
- Macro factor: Crude oil eased as diplomatic efforts reduced Strait of Hormuz supply concerns
Overall, investors are balancing global risks, commodity movements, and company-specific growth opportunities. Market direction in the near term will likely depend on crude oil trends, geopolitical developments, and upcoming corporate updates.
