After opening day flat, the Indian benchmark slipped as the session progressed and ended the day lower.

Sensex & Nifty ended on a tepid note as investors refrained from taking fresh positions ahead of the long weekend.

At the closing bell, the BSE Sensex  closed Lower by 201 points (down 0.3%)

Meanwhile, the NSE Nifty closed 73 points lower (down 0.3%)

Sun Pharma, SBI, and Kotak Mahindra are among the top gainers today

Tata Motors, Zomato, and Hindalco, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  22,440 lower by 110 points at the time of writing.

The BSE MidCap index ended 0.8% lower, and the BSE SmallCap index ended 0.6% lower.

Sectoral indices were trading mixed, with stocks in the realty sector and IT sector witnessing selling pressure. Meanwhile, stocks in the power and banking sectors are witnessing buying.

The rupee is trading at Rs 86.9 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 86,830 per 10 grams.

Meanwhile, silver prices were trading 0.3% lower at Rs 99,170 per 1 kg.
 

Solar Industries Gains on New Funding

In the news from chemical sector, Solar Industries' stock price witnessed a significant uptick on the BSE, rising by 4.7% to reach an intraday high of Rs 10,247.5 per share. The surge in the company's share price can be attributed to the successful issuance of Commercial Paper (CP) worth Rs 7.5 billion (bn) in favour of Kotak Mahindra Bank.

Commercial Papers (CPs) are short-term, unsecured debt instruments issued by corporations to raise funds for various financial needs.

The company's market capitalization stood at a substantial Rs 921.7 bn, underscoring its considerable presence in the market. Notably, the stock's 52-week high was recorded at Rs 13,300 per share, while its 52-week low was at Rs 7,270.9 per share, highlighting the stock's volatility over the past year.

Solar Industries India Limited is primarily engaged in the manufacturing of industrial explosives and explosive-initiating devices, rather than being a direct player in the solar energy sector.

Their product range includes packaged emulsion explosives, bulk explosives, and explosive initiating systems, catering to various industries such as mining, quarrying, and infrastructure development.

The company has established itself as a trusted supplier to major mining and infrastructure companies, both domestically and globally, with notable clients including Coal India Limited, Singareni Collieries, Vedanta Ltd, and several others.

Solar Industries' stock has demonstrated impressive growth, with a 33% increase in share value over the past year.

Cement Stocks Down up to 3%, here's why

Moving on to the news from industrial sector, Cement companies' shares continued to face selling pressure for the second consecutive day on Thursday, with their stock prices plummeting up to 3% on the BSE during intraday trading.

The primary catalyst behind this decline is the recent decision by the Tamil Nadu Government to impose a mineral bearing land tax on various essential minerals, including Lignite, Limestone, Magnesite, and Graphite. These minerals serve as critical raw materials for cement manufacturers.

Specifically, the government has levied a tax of Rs 160 per tonne on Limestone, which is expected to increase the production costs for cement companies.

The companies that saw a downturn include UltraTech Cement, Birlife Corporation, India Cements, JK Lakshmi Cement, Ramco Cement, Dalmia Bharat, JK Cement, ACC, and Ambuja Cements. These stocks fell within a range of 1% to 3% on the BSE.

Dalmia Bharat's share price fell 2% to Rs 1,610.8 in intraday trade. The stock has declined 4.5% in two days and 16% from its monthly high.

The new tax is expected to impact cement companies differently, with Ramco Cement facing the highest impact of Rs 75-80/tonne. Dalmia Bharat and UltraTech Cement will face lower impacts of Rs 35-40/tonne and Rs 10-12/tonne, respectively.
 

DMart Sees Best Rally in Weeks

Moving on to the news from retail sector, Avenue Supermarts, the parent company of the popular DMart retail chain, witnessed a significant surge in its share price on Thursday.

The stock rallied 6% to reach Rs 3,876.9 on the BSE during intraday trading, standing out in an otherwise subdued market. This notable uptick in share price was accompanied by heavy trading volumes.

India's retail inflation has dropped to a seven-month low of 3.61% in February 2025, down from 4.31% in January. This decrease is mainly due to softer food price pressures, according to government data released on Wednesday.

The stock has reached its highest point since 6 February 2025, marking a significant rebound. After hitting a 52-week low of Rs 3,337.1 on 3 March 2025, the stock has bounced back by 16%, demonstrating a strong recovery in a short period.

Despite its recent rebound, DMart's stock has had a challenging six months, declining 25% during this period. DMart's Q3FY25 performance showed consolidated revenue growth of around 18% year-on-year (Y-o-Y).

To break it down further, DMart's revenue from operations rose 17.68% to Rs 159.7 bn during Q3FY25, compared to Rs 135.7 bn in the same quarter of the previous fiscal year.

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