Summary
A 35% profit fall that the market cheered, a debut earnings report with a ₹3,129 crore dividend, and a stock that hit its 20% ceiling for the second day running.
On a flat day for the indices, the individual stories did all the talking.     Â
The Sensex surged 889 points, or 1.16%, to close at 77,654.60, while the Nifty50 settled 265 points, or 1.1%, higher at 24,250.20, powered by sharp gains in IT, FMCG and metal shares.
The Nifty MidCap rose 0.82% and the Nifty SmallCap climbed 1.48%.
Impact On The Stock Market
Sector-wise, the Nifty IT, Nifty Metal and Nifty FMCG indices outperformed, with IT continuing its remarkable run as the market’s new favourite. Investors were also positioning ahead of the US Federal Reserve’s interest rate decision due later in the day, which could shape the next leg for rate-sensitive sectors.
The Nifty Realty and Nifty Auto indices underperformed, sitting out the rally. Auto’s weakness makes sense with crude oil bouncing back on Wednesday morning, since higher fuel prices raise both input costs and running costs for vehicle buyers.
| Sector/Index | Performance |
| IT & BPM sector | 0.23% |
| Healthcare sector | 0.02% |
| Oil & Gas sector | 0.46% |
| Real estate sector | -2.06% |
| PSU Bank in India | 0.13% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| M&M | 3,283.70 | 1.92 |
| Coal India | 417.20 | 1.74 |
| Maruti Suzuki | 14,188.00 | 1.72 |
| Eicher Motors | 7,912.50 | 1.72 |
| Tech Mahindra | 1,669.00 | 1.51 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Adani Ports | 1,664.10 | -3.23 |
| HDFC Life | 545.40 | -2.03 |
| Shriram Finance | 1,027.20 | -.168 |
| UltraTechCement | 11,847.00 | -1.26 |
| Jio Financial | 246.95 | -1.01 |
Market aftermath: Impact on stocks
Hyundai Motor India: Profit falls 35%, yet the stock rises 2.4%
Hyundai Motor India reported a 35% year-on-year decline in net profit to ₹888.6 crore for the June quarter, with revenue slipping 0.5% to ₹16,334.6 crore and operating margin narrowing to 9.3% from 13.3% a year ago. The damage came from two directions: a fire at a supplier’s facility caused a production loss of around 13,900 vehicles in June, while exports fell 19.59% to 38,708 units as the West Asia conflict disrupted overseas shipments. Domestic wholesales still managed to grow 5.38% to 1,39,374 units, showing that demand itself held up even when supply could not.
Here is the interesting part: the shares ended 2.38% higher at ₹2,040.30 after the results. The market chose to focus on the recovery story, with production back to normal from June 22, the lost output expected to be recovered in the current quarter, and Managing Director Tarun Garg reaffirming full-year guidance of 8-10% volume growth and an operating margin of 11-14%. When a stock rises on a 35% profit fall, investors are effectively saying the bad news was temporary and already priced in.
Vedanta Aluminium Metal: A strong debut scorecard and a ₹3,129 crore dividend
Vedanta Aluminium Metal delivered its first earnings report as a standalone listed company, following the completion of Vedanta’s four-way demerger and its listing on the exchanges on June 15. Net profit rose 33.8% from the previous quarter to ₹5,629 crore, revenue climbed 11.9% to ₹21,393 crore, and operating profit jumped 23.3% to ₹10,299 crore with the margin expanding to a strong 48.14%. The board also approved a first interim dividend of ₹8 per share, amounting to approximately ₹3,129 crore.
The operational numbers were equally solid, with aluminium production at an all-time high of 632 thousand tonnes and production costs of $1,698 per tonne staying within the full-year guidance range. Management did flag a potential $50-100 per tonne cost headwind in the first half, linked to the Middle East conflict pushing up fuel-oil prices used in alumina refining. The balance sheet strengthened too, with net debt falling to 0.9 times operating profit from 1.3 times, though the shares closed nearly flat at ₹439.75 as the strong quarter appeared largely anticipated.
SML Mahindra: A second straight day at the 20% upper limit
SML Mahindra hit its 20% upper circuit for the second consecutive day, trading at ₹5,479.2, as buyers continued to chase the stock after Mahindra & Mahindra’s board approved the sale of its truck and bus business to the subsidiary for ₹525 crore. That takes the stock’s gain to roughly 44% over two sessions, since a 20% rise on top of another 20% rise compounds. The enthusiasm rests on the consolidation logic: one focused listed entity for the group’s entire commercial vehicle business, combining assets, people and licences.
The transferred division generated revenue of ₹2,989 crore in the last financial year, and the combined business is expected to benefit from greater scale, a wider product range and improved efficiencies. The agreement is due to be signed by August 7, with completion expected by January 31, 2027, subject to regulatory approvals. It is worth remembering that this is a related-party transaction between a parent and its listed subsidiary, and after a 44% two-day rise, much of the expected benefit may already be reflected in the price.
Crude oil: Prices ease despite a heavy night of strikes
In a sign of how much the oil market has recalibrated, crude prices fell on Thursday morning even as the US and Iran continued exchanging fire. Brent crude futures slipped 0.99% to $87.22 a barrel, US crude eased 0.92% to $83.68, and oil futures on India’s commodity exchange declined 1.07% to ₹8,027. This came despite the US completing what it described as a heavy wave of strikes on dozens of targets in Iran on July 29, in response to an attempted Iranian ballistic missile attack on US forces a day earlier, which was fully intercepted.
The restraint in prices suggests traders now distinguish between military exchanges and actual supply loss, having already priced in the Strait of Hormuz disruption. Supply data added a wrinkle, though: US crude inventories fell by a sizeable 7.2 million barrels last week to 404.5 million barrels, about 6% below the five-year average, a reminder that the physical market is tightening even as prices cool.
Conclusion
Thursday’s quiet close hides a market that is quietly maturing through this crisis: strikes no longer trigger panic, earnings are being judged on their recovery paths rather than their headline misses, and money is flowing to specific stories such as Hyundai’s rebound, Vedanta Aluminium’s debut and the Mahindra restructuring. The caution flags remain the same, with midcaps and smallcaps slipping, realty under pressure and a tightening US oil market that could yet push prices higher. With the benchmarks now back near where the month began, the next move likely depends on whether the West Asia talks produce a genuine breakthrough. Until then, expect more days like this one, where the index does little and the stock-specific action does everything.
