Benchmark indices traded marginally higher on Tuesday afternoon, extending early gains as defense stocks rallied following news of India’s Rafale deal with France.
At 12.45 PM, the Sensex stood at 80,326.42, up 108.05 points or 0.13 per cent from its previous close, while the Nifty50 rose 12.80 points or 0.05 per cent to 24,341.30.
Defense equipment manufacturer Bharat Electronics Limited (BEL) emerged as the top gainer on the NSE, surging 4.51 per cent to ₹318.80 on robust trading volumes of 3.96 crore shares valued at ₹1,25,036.86 lakhs. The rally in defense stocks follows the government’s announcement of a ₹63,000 crore Rafale deal with France.
Among other major gainers, index heavyweight Reliance Industries climbed 2.68 per cent to ₹1,405.50, while Tech Mahindra rose 1.99 per cent to ₹1,490.60. TCS and Bajaj Finserv also added to the gains, advancing 0.95 per cent and 0.89 per cent respectively.
On the downside, UltraCemCo led the laggards, dropping 2.51 per cent to ₹11,810 despite meeting quarterly earnings expectations. Dr. Reddy’s Laboratories declined 2.34 per cent to ₹1,170.70, while Power Grid Corporation fell 2.09 per cent to ₹302.10. Coal India and Shriram Finance also featured among major losers, shedding 1.54 per cent and 1.52 per cent respectively.
Market breadth remained mixed with 1,832 stocks advancing against 1,877 declines on the BSE, while 166 remained unchanged. Forty-seven stocks hit their 52-week highs, compared to 22 touching their yearly lows. Additionally, 153 stocks hit the upper circuit limit, while 193 hit the lower circuit.
The Reserve Bank of India’s announcement of ₹1.25 lakh crore open market operations continues to support banking and NBFC sectors, though the Nifty Bank index traded marginally lower at 55,421.55, down 0.02 per cent. The Nifty Financial Services index declined 0.41 per cent to 26,184.25.
Meanwhile, the broader market showed resilience with the Nifty Midcap 100 gaining 0.34 per cent to 54,625.65.
Foreign institutional investors have maintained their buying streak for nine consecutive sessions, pumping nearly ₹35,000 crore into Indian equities in April alone. Market participants are now looking ahead to upcoming US GDP data, inflation readings, and technology sector earnings for further cues.
Published on April 29, 2025
