The Indian stock market opened with modest gains before advancing significantly. The Sensex climbed above 81,200, and the Nifty surged past 24,550. Bank Nifty, midcap, and smallcap indices all recorded notable increases. Except for auto, pharma, and healthcare, all six key sectors posted gains in the morning session.
In corporate developments, Reliance Power, led by Anil Ambani, saw a 5% surge after the Solar Energy Corporation of India (SECI) lifted restrictions on the company’s participation in solar contracts.
Wonderla Holidays completed a Qualified Institutional Placement (QIP) at ₹829.74 per share, propelling its stock 8% higher. Meanwhile, Honasa’s CEO, Varun Alagh, increased his stake in the company, causing its shares to also jump by 8%.
On the downside, a customs department raid on the office of iPack Durable led to a 5% drop in its shares.
Positive second-quarter results and an improved future outlook boosted Swiggy’s stock by 5%. Reports suggesting that a ministerial panel recommended reducing GST on health insurance from 18% to 5% lifted the sector. Niva Bupa soared by 14%, marking a 22% rise in two days, while Star Health rose by 2% today.
The rupee opened flat against the dollar at ₹84.69, touched ₹84.73, and later eased to ₹84.67.
Gold prices climbed globally to $2,645 per ounce, with jewellery-grade gold in Kerala holding steady at ₹57,040 per sovereign.
Crude oil saw minor fluctuations, with Brent crude trading at $73.69 per barrel.
