Key Indices Performance

• Nifty 50: 23,311.80 (+0.42%, +98.60 points)

• Sensex: 77,042.82 (+0.42%, +318.74 points)

• India VIX: 15.47 (+1.38%)

The benchmark indices continued their upward momentum for the third consecutive session, supported by strong performance in the PSU banking, metal, and commodities sectors.

Sectoral Highlights

Top Performing Sectors:

• Nifty PSU Banks: +2.55%

• Nifty Metal: +1.70%

• Nifty Commodities: +1.35%

Underperforming Sectors:

• Nifty FMCG: -0.56%

• Nifty IT: -0.49%

Broader indices also closed positively, with the Nifty Midcap 150 gaining 1.09% and the Nifty Smallcap 250 rising 1.21%, reflecting broad-based buying across segments.

Top Movers

Gainers:

1. Ircon International: ₹220.00 (+16.0%)

• The stock surged amid optimism regarding a potential 18% hike in the railway budget for FY26.

2. Jupiter Wagons: ₹494.00 (+14.22%)

• Investors cheered speculation on increased government spending on rail infrastructure.

3. Rail Vikas Nigam Ltd.: ₹412.00 (+10.78%)

• The stock gained traction with strong trading volumes, driven by bullish sentiment in railway stocks.

Losers:

1. Motilal Oswal Financial Services: ₹799.00 (-7.39%)

• The stock witnessed selling pressure amid muted earnings expectations.

2. Newgen Software Technologies: ₹1,626.00 (-7.40%)

• Profit booking led to a sharp decline after recent gains.

3. Devyani International: ₹185.20 (-4.19%)

• Declined on weaker-than-expected operational updates.

Key Market Developments

1. Deep Industries: Acquired a 100% stake in Indra Offshore Services, making it a wholly owned subsidiary to enhance operational efficiency.

2. Bharat Dynamics (BDL): Signed a ₹2,960 crore contract with the Ministry of Defence to supply MRSAMs to the Indian Navy.

3. Rail Vikas Nigam (RVNL): Bagged a ₹9,613 crore contract from BSNL to develop the Bharat Net Middle Mile network.

4. Refex Green Mobility: Took delivery of 2,997 electric vehicles from Gensol Engineering for lease to Blu-Smart Mobility in key Indian cities.

5. Oracle Financial Services Software (OFSS): Reported a 26.9% YoY decline in Q3 net profit to ₹541.3 crore, with revenue dipping by 5.9% to ₹1,715.2 crore.

Broader Market Sentiment

Market breadth remained robust, with 2,083 stocks advancing versus 699 declining on the NSE. The positive sentiment was further bolstered by anticipation of budgetary announcements, particularly in infrastructure and defense-related sectors.

Global Economic Calendar

• US Retail Sales Data: To be released later today, offering insights into consumer spending trends.

• Eurozone Inflation Data: Expected to provide updates on monetary policy expectations.

• China GDP Growth Rate: Key data anticipated this week, influencing global market sentiment.

Market Outlook

The market continues to build on its bullish momentum, driven by optimism in key sectors like infrastructure, defense, and metals. Reduced selling pressure in broader indices and anticipation of supportive budgetary measures are expected to keep investor sentiment positive.

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