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Broader markets outperform; Nifty Midcap 100 hits fresh record high
The Nifty Midcap 100 index touched a fresh record high of 62,113.85 during the week, while the Nifty Smallcap index moved closer to the 18,800 mark, trading just 2.2% below its all-time high of 19,224.95.
Nifty IT rises amid weak market; Wipro, Infosys gain 1-2% amid geopolitical uncertainty, rupee tailwinds
The relative outperformance in Indian IT stocks comes at a time when volatility has picked up due to escalating tensions in West Asia, pushing investors towards defensives and export-oriented sectors.
Markets Erase Gains as Metals Drag; IDBI Bank Bid Race Heats Up | Closing Bell
Markets surrendered early gains as metal stocks dragged benchmarks lower, with the Nifty hovering near 24,100 despite strength in auto counters. ONGC, Hindalco and Power Grid led the losers, while InterGlobe Aviation, M&M and Maruti Suzuki outperformed. In corporate news, Amazon CEO Andy Jassy met PM Narendra Modi and announced an additional $13 billion investment in India, taking Amazon's planned investment to $48 billion through 2030. Fairfax is reportedly back with a fresh bid for IDBI Bank, valuing the lender at ₹77 per share and potentially unlocking a ₹50,000 crore divestment for the government and LIC. Meanwhile, uncertainty continues around Tata Sons as RBI is yet to decide on its NBFC deregistration request, keeping the possibility of a future listing alive. Catch all the key market moves, corporate developments and top business headlines in this edition of Closing Bell.
Taking Stock: Sensex, Nifty extend gains on 3rd day; rupee sinks to fresh low
Biggest Nifty gainers were Jio Financial, Tech Mahindra, Infosys, Eternal, M&M, while losers included Coal India, NTPC, HUL, Cipla and Sun Pharma.