After facing pressure for three consecutive sessions, the Indian stock market staged a solid rebound in Thursday’s session, December 11, as risk-on sentiment improved following the US Federal Reserve’s widely anticipated 25-basis-point cut in its key benchmark interest rate.
Although the market opened lower, it quickly recovered losses, supported by a healthy rally in financial heavyweights and a strong rebound in select metal counters, helping the key indices break their three-day losing streak.
The Nifty 50 closed at 25,899, up 0.55% from the previous close, while the S&P BSE Sensex rose 0.42% to 84,747. Broader markets also ended the day with notable gains, with the Nifty Midcap 100 and Nifty Smallcap 100 indices surging 1% and 0.82%, respectively.
On the sectoral front, all major indices closed in the green, led by the Nifty Auto, which gained 1.22%. Nifty Metal, Nifty Consumer Durables, Nifty IT, Nifty Realty, and Nifty Private Bank also advanced, each rising between 0.70% and 1%.
On the losing side, only Nifty Media and Nifty Oil & Gas ended the day in the red, though their losses were minimal at 0.05%.
On the currency front, the Indian rupee resumed its decline after a brief rally, slipping to another all-time low of 90.48 against the US dollar in intra-day trade on Thursday.
Meanwhile, US Trade Representative (USTR) Jamieson Greer said that the US has received the “best” offers ever from India on the proposed trade agreement, coinciding with the commencement of two-day talks between the two countries. These remarks are significant as both sides work to conclude the first phase of the proposed Bilateral Trade Agreement (BTA).
Ola Electric tops gainers as mid- and small-caps rebound
Shares of Ola Electric led the Nifty 500 gainers on Thursday, jumping 6.8% to ₹36.7 apiece. The rebound came as a relief for shareholders, as the stock remained under pressure in recent weeks, crashing 50% from the September peak.
DCM Shriram also displayed strong momentum, rising 5% to ₹1,268 apiece after signing an MoU with Bayer CropScience to promote future-ready agriculture in India. Under this partnership, both companies will explore joint opportunities across crop protection solutions, seeds, specialty plant nutrition, biologicals, and digital farming platforms.
Natco Pharma surged 5.6% to ₹916, ending its four-day losing streak.
Electronic manufacturing companies, which had been sharply beaten down in recent sessions, also recovered, with Dixon Technologies and Kaynes Technology gaining 5.3% and 3.6%, respectively.
Vodafone Idea joined the rally as well, soaring 5% to ₹11.26 apiece, its highest level since August 2024.
Capital-market-linked stocks such as KFin Technologies, BSE, Angel One, Nuvama Wealth Management, and Central Depository Services also ended higher, rising between 3% and 5%.
Among railway stocks, Ircon International and RailTel Corporation posted strong performances, climbing 5.5% and 4.5%, respectively.
