After opening higher, Indian benchmark indices continued to build on their gains throughout the session, ultimately closing the day on a positive note.

Benchmark Indian equity indices BSE Sensex and NSE Nifty50 continued their upward movement for the second consecutive session to settle in the green on Thursday.

At the closing bell, the BSE Sensex closed Higher by 609 points (Up 0.8%).

Meanwhile, the NSE Nifty closed 207 points Higher (Up 0.9%).

Tata Steel, Asian Paints, Axis Bank are among the top gainers today

Tech Mahindra, Tata Motors, Kotak Mahindra, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  22,588, higher by 167 points at the time of writing.

The BSE MidCap index ended 0.7% Higher, and the BSE SmallCap index ended 1.6% Higher.

Sectoral indices were trading mixed today, with stocks in the Metal and Oil & Gas sectors witnessing buying. Meanwhile, stocks in the realty sector and auto sector are witnessing selling pressure.

The rupee is trading at Rs 87.1 against the US$.

Gold prices for the latest contract on MCX are trading 0.5% Lower at Rs 85,390 per 10 grams.

Meanwhile, silver prices were trading 0.1% Lower at Rs 97,443 per 1 kg.

Here are the four key factors driving the market's momentum:

#1 China stimulus hopes:

Market participants expect China to introduce stimulus measures to boost consumption and mitigate economic pressures. This anticipation has driven up base metal prices. As a result, metal stocks in India have surged, with the Nifty Metal index rising nearly 2%. The prospect of further stimulus has fuelled the rally in base metals during Asian trade.

#2 Positive global cues:

Asian markets extended gains, tracking Wall Street's rally, after US President Donald Trump eased his stance on tariffs for Mexico and Canada. South Korea's Kospi rose 0.7%, while Hong Kong's Hang Seng surged over 3%.

#3 Weakening dollar index:

The US dollar index plummeted to a four-month low of 104.3, a development that bodes well for emerging markets like India. A weaker dollar is expected to reduce foreign institutional investor (FII) selling pressure. If this trend persists, it could create a favourable environment for the Indian market to build on its gains.

#4 Crude oil decline

Crude oil prices dropped to a six-month low, boosting market sentiment. Oil marketing companies (OMCs) saw their shares rise for the fourth consecutive session. Brent crude fell below Rs 5,789.2 per barrel after OPEC+ decided to increase output, potentially benefiting Indian refiners. The ongoing trade war has raised concerns about global demand, exerting downward pressure on oil prices.
 

Metal Stocks Rally Up To 6%

In the news from metal sector, metal stocks took centre stage today, with the Nifty Metal index experiencing a significant surge of over 2% on the NSE during Thursday's intra-day trading session. This upward momentum can be attributed to the impressive performance of key metal sector stocks, including Tata Steel, Vedanta, and Jindal Stainless (JSL).

The Nifty Metal index emerged as the top performer among sectoral indices, posting a notable 2.5% gain. This surge significantly outpaced the broader market, as the Nifty 50 index rose by a relatively modest 0.6%. During this period, the Nifty Metal index has rallied an impressive 6.5%, while the benchmark Nifty 50 index has declined by 5%.

Metal stocks saw several key players posting impressive gains. JSL led the pack with a 6% rise, closely followed by Tata Steel, which gained 5-6%. Other notable gainers included Hindustan Copper, Hindustan Zinc, Vedanta, NMDC, and Hindalco Industries, which rose in the range of 3-5%.

Among the individual metal stocks, JSL stood out with a significant 6% surge to Rs 652.9 on the NSE. Tata Steel also posted a notable gain, rising 3% to Rs 151. Furthermore, Tata Steel's stock has rallied an impressive 8% over the past two trading days, reaching its highest level since 12 December 2024.

Hindalco Industries' shares continued their upward momentum, rising 4% to Rs 682 on the NSE in intra-day trade. Notably, the stock has been on a six-day winning streak, surging 10% during this period.

The rally in metal stocks is a positive development for the sector, which has been experiencing fluctuations in recent times. The surge in demand for metals, driven by various infrastructure and industrial projects, is likely to have contributed to the uptick in metal stocks.

Olectra Greentech Shares Climb Higher 5%

Moving on to the news from auto sector, Olectra Greentech, a leading electric bus manufacturer, remained in the spotlight for the third consecutive day on Thursday.

Olectra Greentech's shares are on the rise, trading 3.39% higher at Rs 1,125.5 on the BSE. This surge is part of a larger upward trend, with the company's stock gaining nearly 13% from its 52-week low of Rs 1,008, hit on 3 March 2025.

Olectra Greentech's shares have received a significant boost after the company placed a substantial order for 2,325 electric bus chassis with BYD India, which may have contributed to the recent surge in its stock price.

Olectra Greentech has established itself as a significant player in the electric bus segment in India. According to recent data, the company holds a notable 17% market share in this space. In 2024, a total of 3,616 electric buses were registered in India, and Olectra Greentech's share of this market underscores its position as a leading manufacturer of electric buses in the country.

Olectra Greentech's financial performance showed a significant uptick, with total income soaring to Rs 51.8 billion (bn) during the quarter. This represents a substantial increase from the Rs 34.5 bn reported in the same quarter last year.

As the Indian government continues to promote electric vehicle adoption, Olectra Greentech is likely to remain a key player in the country's transition to a cleaner and more environmentally friendly transportation system.

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