Stock market today: The Indian stock market remained largely unchanged in Wednesday’s session as headline indices gave up most of their early gains amid profit booking at higher levels.
The day began with a strong gap-up opening and further gathered momentum, buoyed by a rally in heavyweight stocks. However, the market failed to sustain the pace as the session progressed, surrendering most of its gains.
The Nifty 50 slipped 205 points from the day’s high to settle at 23,654, down 0.02% from the previous close. Meanwhile, the Sensex erased 627 points from its intraday high to end the session with a drop of 0.18% at 75,183.
The broader market also displayed a similar trend, with both the Nifty Midcap 100 and Nifty Smallcap 100 giving up most of their intraday gains to end the session on a mixed note.
Despite a sharp overnight decline in crude oil prices, cautious sentiment prevailed as persistent selling by overseas investors and the rupee falling to record lows kept overall market sentiment fragile.
Meanwhile, US President Donald Trump reportedly said the US was in the “final stages” of negotiations with Iran, raising expectations for a near-term restart of energy flows through the critical Strait of Hormuz. That pushed oil prices lower on Wednesday and eased inflation concerns, helping global bonds rebound from their recent selloff.
Iran is reviewing the US’s new draft proposal in response to Tehran’s 14-point proposal and is yet to provide an official response, according to Tasnim. President Masoud Pezeshkian posted on X that Iran has “explored every avenue to avert war,” adding that “all paths remain open from our side.”
Earnings-driven rally lifts Honeywell, Triveni Turbine and Grasim Industries
Honeywell Automation emerged as the top performer among. Nifty 500 stocks today, gaining 15.3% to ₹34,800 after reporting its March quarter results. Sammaan Capital was the second-best performer, surging 9.1% to ₹154.8 apiece after the company outlined an aggressive long-term growth strategy and completed a major balance sheet clean-up during the March quarter.
Triveni Turbine shares extended their earnings-driven rally for the third straight session, climbing another 7.5% to ₹705.60 apiece. Aditya Birla Fashion and Retail shares also extended their winning streak to their third consecutive day.
Better-than-expected March quarter performance also lifted Grasim Industries shares by 6.4% to ₹3,162, while Amber Enterprises India advanced 7% to ₹7,500, snapping its three-day losing streak.
Its peer, Kaynes Technology India, also ended the session with a strong 6.3% gain. Other stocks such as Adani Total Gas, Gland Pharma, Angel One, Jammu & Kashmir Bank, Anant Raj and Aarti Industries also closed with gains of over 4%.
