Indian equity markets experienced a jubilant session on Friday, marked by a broad-based rally led by soaring metal stocks.
The surge was fueled by the US’s decision to suspend additional tariffs on India until July 9, providing a welcome boost to investor sentiment and lifting market confidence.
The Sensex traded 1569.01 points or 2.12 per cent higher at 75,416.16 as at 12:28 p.m., while the Nifty 50 climbed 511.15 points or 2.28 per cent to 22,910.30, reflecting the strong upward momentum.
The Nifty Midcap and Smallcap indices also participated in the rally, gaining 2-3 per cent, indicating a healthy participation from across the market capitalization spectrum.
Overall, the breadth of the rally was impressive, with a total of 2,402 stocks advancing on the National Stock Exchange out of 2,756 stocks that were traded.
Only 284 stocks declined, underscoring the overwhelmingly positive sentiment.
Metal stocks shine: a golden day for miners and steelmakers
Metal stocks were the undisputed stars of the day, driving a significant portion of the market’s gains.
Pharma, Realty, IT, and other sectoral indices also traded in positive territory, contributing to the overall upward momentum, but metal stocks stood out for their particularly strong performance.
Shares of Hindalco, JSW Steel, and Tata Steel were among the top gainers in the Nifty 50 index, reflecting the strong investor confidence in the sector.
Coal India and Trent also traded strongly, adding to the positive momentum.
Top gainers of the day: Hindalco leads the pack
Hindalco shares spearheaded the rally, surging 7.21 per cent to ₹604.65 on the NSE as of 12:37 p.m., demonstrating the strong investor appetite for metal stocks.
Tata Steel also gained significant momentum, despite mixed reactions from market experts regarding its Netherlands’ restructuring plans.
The stock surged 5.23 per cent to ₹133.83, hitting a high of ₹134.70 during the session, indicating continued investor interest.
JSW Steel shares climbed 4.95 per cent to ₹992.35, while Coal India rose 4.32 per cent to ₹390.80, adding to the positive sentiment in the metal sector.
Other Tata Group stocks, including Trent, Tata Motors, and Tata Consumer Products, also saw increased investor confidence, contributing to the broad-based market rally.
Trent soared 4.17 per cent to ₹4,812.75, highlighting the positive sentiment surrounding the Tata Group.
Mixed performance: TCS flat after Q4 results
TCS traded flat at ₹3,249.90 as of 1:05 p.m., after hitting a high of ₹3,298.95 following the release of its Q4 results, suggesting that investors were still digesting the company’s performance.
Reliance Industries also contributed to the rally, rising 2.90 per cent to ₹1,219.75 amid strong market cues.
Adani group stocks, including Adani Green Energy, Adani Enterprises, Adani Ports, and Adani Power, also soared 2-4 per cent, reflecting renewed investor confidence in the Adani Group.
A total of 115 stocks hit the upper circuit today, including JSW Holdings, Nibe Ltd, Oriana Power, Wockhardt, and Pearl Global, indicating strong buying pressure across a wide range of sectors.
Anand Rathi Wealth traded flat on the NSE at ₹1,778.20, after hitting a high of ₹1,837.65 following its Q4 results.
The company reported a 30 per cent jump in profit after tax (PAT) to ₹74 crore in the March 2025 quarter, showcasing its strong financial performance.
On the BSE, Sarda Energy and Gravita India rallied over 14 per cent, highlighting the positive momentum in the broader market.
The underperformers: Apollo Hospitals and Asian Paints in the red
Despite the overwhelmingly positive sentiment, a few stocks bucked the trend, with Apollo Hospitals slipping 0.47 per cent to ₹6,802.30 and Asian Paints dipping 0.49 per cent to ₹2,399.30, showing that not all sectors were participating in the rally.
Meanwhile, Muthoot Finance plunged over 5 per cent to ₹2,025.45, while Max Health and Jyothy Labs also depreciated close to 3 per cent, further highlighting the selective nature of the market’s gains.
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