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Sensex rose while Nifty declined slightly. Most investors just waited for the policy call of Federal Reserve before taking fresh positions.
Hindustan Zinc rose over 4% as global silver prices reached new highs. Other metal and energy stocks, too, traded with good strength.
Kaynes Technology lost over 5%. Paytm fell over 3%. Aviation stocks were also weak on a government order related to flight schedules.
Mixed signals were exhibited by the Indian stock market today as benchmark indices witnessed marginal movements. Investors stayed cautious ahead of the US Federal Reserve policy decision. Sensex edged higher by 22.95 points to 84,689.23, marking a gain of 0.03%. Meanwhile, Nifty 50 shed 0.95 points and settled at 25,838.70.
Sectoral performance continued to be divided wherein Nifty Bank went down 0.25% while Nifty IT declined 0.33%. On the other hand, BSE SmallCap index rose 0.13% against the general trend. Strong activity was seen in metal stocks today with Hindustan Zinc being one of the top performers. Here is how individual stocks performed today based on Moneycontrol Live Updates.
Hindustan Zinc shares stole the limelight in the Indian stock market today as it surged above 4% to Rs 511.15. As the price of silver reached a fresh lifetime high globally on expectation of rate cuts by the Federal Reserve, the stock touched its intra-day high of Rs 515, highest in over seven weeks.
Similarly, AU Small Finance Bank gained 3.15% and traded at Rs. 1,002.65. Next came Adani Energy with a gain of 2.82% at Rs. 1,002.10, JSW Energy with a gain of 2.37%, and Manappuram Finance with a gain of 2.22%.
Other major gainers were Godfrey Phillips India. The stock added 4.54% and was trading at Rs. 2,900 to score its best one-day advance in 10 weeks. NHPC shares sizzled as well with a 2.63% gain to Rs. 78.48, thus scoring its best advance in 12 weeks.
The stock market today wasn't kind to all players. Kaynes Technology sustained the biggest damage, tanking 5.20% to Rs. 4,106. The stock also topped the most active list with a huge trading value of Rs. 2,863.05 crore.
One 97 Communications (Paytm) lost 3.30% to Rs. 1,273.20 and Inox Wind declined 2.39%. Delhivery and BSE Limited were among other top losers with a loss of 2.24% and 2.02%, respectively.
InterGlobe Aviation stock fell almost 2% after the government asked the airline to reduce 10% of its flights. The decision came over operational difficulties related to new FDTL norms and pilot scheduling issues. HSBC, meanwhile, retains a 'buy' rating on the stock with a target price of Rs. 5,977, given its strong cost advantage.
Also Read: Stock Market Today: Sensex Falls 472 Points to 84,630, Nifty at 25,813 as Asian Paints Slips 3.96%
Indian stock market today had three new listings. It was a bumper listing for Meesho as shares started trading at 46 percent premium over its IPO price. Its issue had got an overwhelming response with 79 times subscription.
Aequs, too, debuted with a bang, listing at Rs. 140 on the NSE, a 12.9% premium over its IPO price of Rs. 124. Vidya Wires made a flat debut, failing to report any premium.
Many corporate announcements impacted investor sentiment and stock market today. Anupam Rasayan announced the acquisition of 100% stake in US-based Jayhawk Fine Chemicals Corporation for $150 million. The stock jumped 2.59% to Rs. 1,327.65 after this announcement.
A large block deal in Adani Green Energy went through for Rs 2,718 crore. TotalEnergies is expected to sell a 1.7% equity in the renewable power company.
Swiggy opened its QIP to raise up to Rs. 10,000 crore, with nearly half the proceeds earmarked for quick commerce expansion through dark stores and warehouses.
The rupee wiped off early losses to trade flat at 89.86 per dollar. The yen remained under pressure globally as it traded at 156.82 per dollar amid a watch on central bank policies.
Oil prices were stable at $62.05 per barrel for Brent crude amid balanced concerns on supply against demand.
Also Read: US Stock Market Today: NASDAQ 100 and S&P 500 Rise 0.2% as Traders Await Fed Rate Decision
Investors cannot afford to lower their guard as global cues, more so the Federal Reserve's decision and expected rate cuts, would determine the market direction in the near term. The split in sectoral performance indicates select opportunities in metals and small-cap stocks, but the aviation and technology sectors are buffeted by headwinds.
1. Why has the Indian stock market been showing mixed movement today?
The market moved both ways as investors preferred to wait for the policy update by the US Federal Reserve. Traders wanted more clarity on interest rates before making fresh investments. Consequently, cautious buying and selective selling were seen across sectors.
2. Which were the best-performing stocks in stock market today?
Hindustan Zinc was the top gainer, up over 4%, due to strong global silver prices. AU Small Finance Bank, Adani Energy, JSW Energy, and Manappuram Finance gained ground and attracted unabated investor interest.
3. Why did some big stocks tumble sharply today?
Some declines were on account of company-specific news and weak sector trends. Kaynes Technology was down over 5% amid heavy volumes. Paytm, Delhivery, and Inox Wind were also under selling pressure due to profit booking by investors and reacting to recent updates.
4. What led to a drop in InterGlobe Aviation's stock?
The stock of InterGlobe Aviation slumped close to 2% after the government reportedly asked the airline to slash 10% of flights over new duty rules for pilots and scheduling issues, raising fears over short-term operations.
5. What should investors pay extra heed to in the forthcoming days?
The US Federal Reserve's policy decision, global inflation numbers, and any key announcements from the Trump administration are some key things investors should keep an eye on, as it may impact interest rates, currency movements, and market direction in the short term.
