The Nifty Midcap 100 index rose 45 points to end at 57,105, continuing its recent outperformance relative to the large-cap benchmarks. Meanwhile, the Nifty Bank index defied the overall weakness, rising 66 points to close at 55,421. The overall market breadth was strongly positive, with the NSE advance-decline ratio standing at 2:1.
Technology and banking names dragged the indices lower. Infosys, TCS, and ICICI Bank were among the top laggards on the Nifty, while heavyweight Reliance Industries also contributed significantly to the decline. Profit-booking in defence stocks weighed on the sector, with shares of major players declining as much as 6% during the session.
Shares of Protean eGov Technologies plummeted 20% after reports emerged that the Income Tax Department had opted not to select the company for its ambitious PAN 2.0 project. Meanwhile, telecom names were under pressure as the Supreme Court rejected the adjusted gross revenue (AGR) waiver plea. Vodafone Idea fell 8%, and Indus Towers dropped 3% on the development.
On the positive side, select real estate, logistics, and specialty chemicals stocks gained. NBCC (India) Ltd rallied 5% after the company announced the sale of residential units worth ₹1,468 crore in a Noida project. Ami Organics advanced 6% as nearly 27 lakh shares changed hands via block deals.
Container Corporation of India (CONCOR) closed 2% higher after the company said it would consider a bonus issue alongside its Q4 earnings. Divi’s Laboratories and Delhivery Ltd also ended higher, gaining between 5% and 10%, following results that were broadly in line or better than Street expectations.
Hyundai Motor India Ltd added 2% after the automaker issued an upbeat outlook on growth and margins. However, not all earnings updates impressed investors. Jupiter Wagons saw volatile trade, closing nearly 11% off its intraday highs after reporting a year-on-year decline in both revenue and profit.
In the financial space, CreditAccess Grameen came under pressure, falling 7% after the company missed its FY25 loan growth guidance. ESAF Small Finance Bank also slipped 2% after reporting a Q4 loss, denting investor sentiment in the microfinance segment.
