Nifty, Sensex rise as banks, auto, metal stocks rally
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- Nifty closed 0.74% higher at 23,581.15, while the Sensex rose 0.75% to 76,070.84, reflecting broad market gains.
- Lloyds Metals and Energy jumped nearly 8% to Rs 1,233.70 after announcing commercial production of copper cathodes from its Katanga plant in the DRC.
- Sugar companies such as Dalmia Bharat Sugar, Shree Renuka and Uttam Sugar rallied up to 4% after the food ministry approved an additional export quota of 87,587 tonnes for 2025‑26.
- Ola Electric Mobility fell 3% to Rs 23.58 after Citi Research cut its target price to Rs 22, an 18.5% reduction from the prior Rs 27 target.
- IDBI Bank slipped nearly 4% to Rs 76.31 as reports suggested the government may pause its divestment process and cancel existing bids, extending its recent decline.
- IT stocks including Persistent Systems, Wipro, OFSS and Infosys fell 1.3%‑2.4% amid concerns that Nvidia’s AI announcements could disrupt the sector.
Why it matters: The 0.74% rise in the Nifty and 0.75% rise in the Sensex underscore broad market confidence, yet the 3% drop in Ola Electric and near 4% fall in IDBI Bank illustrate how analyst downgrades and policy uncertainty can quickly erode individual stock performance.
