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Informist, Wednesday, Jun. 4, 2025

By Akash Mandal

MUMBAI – Benchmark indices ended higher Wednesday after falling over 1% in the past three sessions. Nifty 50 moved in a narrow range of 115 points compared to around 340 points on Tuesday. The market, which slipped into the red in early trade after opening higher, soon recovered to stay higher for the remainder of the session.

The Nifty 50 ended at 24620.20 points, up 77.70 points or 0.3%. Heavyweights such as HDFC Bank, Bharti Airtel, and Reliance Industries pushed the 50-stock index higher. Bharti Airtel ended nearly 2% higher after brokerage Macquarie raised its target price for the stock to INR 2,050 from INR 1,800 and retained the 'outperform' rating. The brokerage also reiterated its positive view on India's telecom sector fundamentals. 

Tata Motors ended nearly 1% higher as analysts were bullish on the sales of its recently-launched Harrier electric variant. Harrier and the expected launch of the Sierra in the December quarter will be the key factors in focus for the company, Morgan Stanley said. The brokerage maintained its 'equal-weight' on the stock with a target price of INR 715. Eternal was the top gainer in the Nifty 50 and ended over 3% higher. The stock has ended up in three of the past four sessions, gaining nearly 8%, after Morgan Stanley earlier in the week reiterated the company as the top pick in the food delivery space due to its leadership in both food delivery and quick commerce, efficient cost structure, and strong balance sheet.

On the other hand, Trent, Bajaj Finserv, and Shriram Finance ended 1-2% lower and were the worst-hit in the 50-stock index. Bajaj Finserv fell sharply mid-way through the session after trading nearly 1% higher before that. The BSE Sensex closed at 80998.25 points, up 260.74 points or 0.3%.

Broader market indices also finished the session in positive territory. Barring Nifty Realty, all other sectoral indices ended in the green. Nifty Metal, Nifty India Defence, and Nifty Oil & Gas were the top gainers among sectoral indices, ending nearly 1% higher each. 

Railway stocks also soared during the session with IRCON International, Railtel Corp. of India, and Rail Vikas Nigam ending 6-14% higher. Some media reports attributed the positive sentiment to a rise in orders from the government over the past few days. IRCON had announced a INR-10.68-billion order from Indian Railways on Saturday, while Rail Vikas Nigam Thursday signed an agreement with Texmaco Rail to collaborate in railway infrastructure.

Among specific stocks, Aditya Birla Fashion and Retail plunged nearly 11% after large deals in the stock in early trade, with media reports saying Flipkart likely sold its entire 6% stake in the company.  Indegene and Alkem Laboratories also ended nearly 5% and 3% lower, respectively, due to large deals on the exchanges in the early hours of the session.

Shares of Swiggy soared nearly 9% after Morgan Stanley initiated coverage on the stock with an 'overweight' rating. The foreign brokerage was positive on the company's strengthening performance in food delivery, the growing quick commerce market, and a mismatch between investor assumptions on capital outlay versus topline growth. The brokerage said it sees the delivery landscape in India dominated by the existing two players. Garden Reach Shipbuilders & Engineers ended nearly 7% higher after it signed an agreement with Norway's Kongsberg Defence & Aerospace for design expertise for the construction of a Polar Research Vessel for the National Centre for Polar and Ocean Research. 

Shares of Scoda Tubes, which made its debut on the bourses Wednesday, ended 5% higher compared to its issue price and the listing price of INR 140.

* Of the Nifty 50 stocks, 32 rose and 18 fell 

* Of the Sensex stocks, 17 rose and 13 fell

* On the NSE, 1,650 stocks rose, 1,236 fell, and 92 were unchanged

* On the BSE, 2,071 stocks rose, 1,933 fell, and 151 were unchanged

* Nifty India Defence: up 0.9%; Nifty Oil & Gas: up 0.7%; Nifty Realty: down 0.7%

BSE                                               NSE

Sensex: 80998.25, up 260.74 points or 0.3%        Nifty 50: 24620.20, up 77.70 points or 0.3%

End

Edited by Saji George Titus

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