Stocks to watch: Oil India, Infosys, NBCC, Zee, Cohance Life, Gland Pharma, Neuland Lab, Monarch Surveyors, RMC Switchgears
Key developments include Infosys partnering with Metsä Group for IT modernisation, Cohance Lifesciences under USFDA scrutiny, and Gland Pharma teaming up with Neuland Labs to boost sterile API production.
Sensex rose 374 points, or 0.48 percent, to close at 78,954.76, while Nifty 50 ended above 24,600, up 11.35 points, or 0.05 percent, at 24,636. The market rally was bolstered by easing crude oil prices, the Reserve Bank of India's stable policy stance, and selective buying in key stocks. Reliance Industries rebounded after a period of struggle, while PSU banks and PSU Bank index surged.
Pharma, healthcare, chemicals, oil & gas, and realty stocks also attracted buying interest. However, blue-chip stocks saw profit booking, limiting the gains. Small- and mid-cap stocks outperformed on earnings-driven buying, maintaining the broader market's resilience. Nifty held above 24,500, with analysts watching 24,650 for the next upward move.
Brent crude eased to around $79.50 a barrel, providing hope for reduced inflation and better corporate margins. Weekly expiry heightened volatility, but domestic fundamentals continued to underpin market sentiment.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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