Nifty holds 25,300 level; metal shares shine

The key equity benchmarks remained firmly higher in mid-morning trade, buoyed by optimism surrounding the conclusion of the IndiaEU free trade agreement (FTA) and FII inflows. Investors are closely tracking rupee movements, ongoing Q3 earnings announcements, and geopolitical developments, with attention also on upcoming Q3 results from Larsen & Toubro, Maruti Suzuki India, and BHEL. Meanwhile, the Nifty traded above the 25,300 level.

Metal stocks extend gains for second straight session.

At 11:25 ST, the barometer index, the S&P BSE Sensex advanced 511.04 points or 0.62% to 82,368.52. The Nifty 50 index rose 159.50 points or 0.63% to 25,335.30.

In the broader market, the S&P BSE Mid-Cap index added 0.95% and the S&P BSE Small-Cap index jumped 0.89%.

 

The market breadth was strong. On the BSE, 2,631 shares rose and 1,264 shares fell. A total of 186 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.97% to 13.58.

Indian Politics:

Ajit Pawar, NCP chief and Maharashtras Deputy Chief Minister, died in a plane crash near Baramati on Wednesday while travelling from Mumbai. Four others, including the pilots and his security personnel, were also killed. The small aircraft, a Learjet 45 operated by VSR, reportedly crashed during a landing attempt near Baramati airport about 45 minutes after take-off, as Pawar was on his way to attend public meetings ahead of the local body polls.

Television visuals showed fire and wreckage at the site, while media reports said all five people on board died. The 66-year-old leader was the nephew of Sharad Pawar and the cousin of Supriya Sule, both of whom were in Delhi and were expected to travel to Pune.

Buzzing Index:

The Nifty Metal index surged 2.53% to 12,129.20, logging a cumulative gain of 5.68% over the last two sessions.

Hindustan Copper (up 8.5%), National Aluminium Company (up 4.47%), Vedanta (up 4.34%), Hindalco Industries (up 3.05%) and NMDC (up 2.11%), Lloyds Metals & Energy (up 1.65%), Adani Enterprises (up 1.61%), Welspun Corp (up 1.52%), APL Apollo Tubes (up 1.4%) and Tata Steel (up 1.24%) advanced.

Stocks in Spotlight:

Mahindra Logistics surged 14.36% after the company reported a consolidated net profit of Rs 3.25 crore in Q3 FY26, compared with a net loss of Rs 9.03 crore in Q3 FY25 Mahindra Logistics surged 14.65% to Rs 337 after the company reported a consolidated net profit of Rs 3.25 crore in Q3 FY26, compared with a net loss of Rs 9.03 crore in Q3 FY25..

Motilal Oswal Financial Services surged 9.65% after the company reported a strong set of earnings for the quarter ended December 2025. The companys profit after tax (PAT), including treasury income and other comprehensive income (OCI), jumped 58% year on year to Rs 721 crore in Q3 FY26, aided by healthy traction in its asset and private wealth management businesses. Total revenue improved 11% to Rs 1,497 crore in Q3 FY26 as against Rs 1,345 crore in Q3 FY25.

Global Markets:

Asia-Pacific markets were mixed Wednesday, breaking ranks with Wall Street after the S&P 500 closed at a record high.

Meanwhile, Australia saw its headline inflation come in at 3.6% for the last quarter of 2025, its highest level of inflation in six quarters.

Overnight in the U.S., the Nasdaq Composite climbed 0.91% to settle at 23,817.10, while the Dow Jones Industrial Average broke ranks, losing 408.99 points, or 0.83%, and settling at 49,003.4 while S&P 500 added 0.41% to end at 6,978.60.

The S&P 500 futures edged higher ahead of the Federal Reserves interest rate decision and earnings reports from major tech companies.

The central bank is widely expected to keep its benchmark interest rate steady at a target range of 3.5% to 3.75%, but traders will be seeking hints on longer-term changes to monetary policy.

Powered by Capital Market - Live News