The benchmarks began the day on a flat note, remained range bound and ended that day flat.

Indian benchmark indices moved in an extremely narrow band on Thursday, even as the broader indices witnessed intense selling pressure.

At the closing bell, the BSE Sensex closed Higher by 10 points.

Meanwhile, the NSE Nifty closed 3 points lower.

Bajaj Finance, Sun Pharma, and Hindalco are among the top gainers today

Trent, Bajaj Aut,o and Tata Motors, on the hand, were among the top losers today.

The GIFT Nifty was trading at  22,649 higher by 88 points at the time of writing.

The BSE MidCap index ended 0.9% Lower, and BSE SmallCap index ended 2.1% Lower.

Sectoral indices were trading mixed with stocks in the financial sector and metal sector witnessing buying. Meanwhile, the stocks inthe  realty sector and power sector witnessing selling pressure.

The rupee is trading at Rs 81.9 against the US$.

Gold prices for the latest contract on MCX are trading 0.8% Lower at Rs 85,227 per 10 grams.

Meanwhile, silver prices were trading 0.2% Lower at Rs 94,450 per 1 kg.
 

3 % Uptick in Bajaj Finance Stock

In the news from the Finance sector, in a notable development on 27 February 2025, shares of Bajaj Finance climbed as much as 2.9% to reach a high of Rs 8,736 on the BSE.

This upward momentum was largely driven by the broader financial sector's positive response to the Reserve Bank of India's (RBI) decision to roll back tighter risk weight norms on bank loans to non-banking financial companies (NBFCs).

The Indian stock market witnessed a broad-based rally in financial stocks on Thursday, with IndusInd Bank a notable gainer, with its shares rising 1.7% to Rs 1062.1. The bank's stock has been in focus in recent times.

A closer look at the stock's performance over the past month reveals a remarkable outperformance. While the benchmark index declined by 1%, Bajaj Finance shares surged by an impressive 20%.

The RBI decision to reduce risk weights on loans to NBFCs from 125% to 100% is a significant move that's expected to boost credit flow to NBFCs, ultimately benefiting the retail segment.

Overall, the rally in financial stocks, driven by the RBI's decision, is a positive development for the Indian stock market and the broader economy.

As the financial sector continues to witness significant developments, investors are likely to keep a close watch on the performance of Bajaj Finance and other key players in the industry.

Cable And Wire Stocks Tank Up To 15%

Moving on to the news from Cable and Wire sector, in a significant development on Thursday, shares of Polycab India, KEI Industries, Havells India, and R R Kabel plummeted up to 15% on the BSE, with unusually high trading volume.

This sharp decline was triggered by UltraTech Cement's announcement of its entry into the wires and cables (W&C) segment, revealed plans to invest Rs 180 billion (bn) over the next two years.

The Indian stock market witnessed a significant sell-off in W&C stocks on Thursday, following UltraTech Cement's announcement of its entry into the segment.

Shares of UltraTech Cement itself were down 5% at Rs 10,411.9 in intra-day trades. Polycab India plummeted 15% to Rs 4,894.8, while KEI Industries and R R Kabel fell 15% and 13%, respectively.

The company aims to tap into the burgeoning demand for wires and cables in residential, commercial, infrastructure, and industrial applications.

The sheer size and growth potential of this market make it an attractive proposition for companies like UltraTech Cement, which is poised to enter the wires and cables segment.

With its vast resources and expertise, UltraTech Cement is well-positioned to capitalize on this lucrative opportunity and establish a strong foothold in the Indian wires and cables market.
 

SRF Stock Surges

Moving on to the news from textile sector, shares of SRF, a leading manufacturer of technical textiles, chemicals, and polymers, rose by approximately 3% on 27 February ,2025. This surge in stock price was driven by optimistic projections for the company's fluorochemicals and specialty chemicals businesses.

SRF's shares are currently trading at Rs 2,849.7, with a notable gain of 2.95%.

Despite the broader agrochemical market grappling with inventory overhang, SRF posted a notable sequential recovery in Q3FY25. The company's management has expressed optimism about a pickup in the investment cycle in FY26.

To capitalize on this expected upswing, SRF has earmarked a significant capital expenditure (capex) of Rs 15-20 bn for the next fiscal year.

Over the past year, SRF's share price has experienced considerable volatility. The stock reached a 52-week high of Rs 2,994.9 and a low of Rs 2,088.6. On BSE, the company's shares saw a modest trading volume of 5,547 shares.

This strategic investment is poised to drive growth, expand the company's product portfolio, and strengthen its position in the market.

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