Here are the key factors that shaped the market today:
1. Hospital stocks slide after Supreme Court questions steep mark-ups
Hospital stocks came under pressure after the Supreme Court questioned steep mark-ups, with stocks declining as much as 7%. The weakness in hospital names also weighed on pharma stocks, with Glenmark down 4%.
2. Insurance stocks extend losses
Insurance stocks continued to remain under pressure, with SBI Life Insurance, Max Financial Services and PB Fintech falling as much as 3%. In contrast, ICICI Lombard surged 5% following the release of its FY29 guidance.
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3. Banks support the market
Banking stocks saw buying ahead of quarterly updates, helping the Nifty Bank outperform the broader market. ICICI Bank and Kotak Mahindra Bank gained around 2% each, supporting the market.
The Nifty Bank ended 373 points higher at 54,633.
4. IT stocks close higher, but off the day’s highs
IT stocks ended largely in the green, although they moved off their highs during the session. Wipro and Tata Consultancy Services (TCS) were among the top gainers in the segment.
5. Auto stocks remain largely flat
Auto stocks were largely unchanged ahead of the release of monthly sales numbers. The Nifty Auto index ended 0.5% higher.
6. BSE falls on first day of Nifty inclusion
BSE ended 3% lower on the first day of its inclusion in the Nifty index.
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Among other stocks, Solar Industries was among the top midcap gainers, rising nearly 6%. Adroit Infotech and Swastika Investmart made strong debuts, while Armee Infotech and Elevate Your Life declined.
Market breadth was neutral at the close, with the advance-decline ratio at 1:1.
From the Sensex basket, ICICI Bank Ltd, Kotak Mahindra Bank Ltd, InterGlobe Aviation Ltd, Axis Bank Ltd, Shriram Finance Ltd and Tata Consultancy Services Ltd were the major gainers.
Max Healthcare Institute Ltd, Oil and Natural Gas Corporation Ltd, Cipla Ltd, Hindalco Industries Ltd, Titan Company Ltd and Nestle India Ltd were the biggest laggards.
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