UltraTech Cement (ULTRACEMCO) closed at ₹1,200 after a 4% swing, as the Nifty edged up 76 points to 23,346, its first 23,300‑plus close in a week.
Banks added 303 points, pushing the Nifty Bank index to 56,359; midcaps surged 759 points to 62,191, while the advance‑decline ratio matched a 2:1 spread, signalling healthy breadth.
Cement and NBFC stocks formed the rally’s backbone. UltraTech Cement and Shree Cement each gained around 4–5%; Shriram Finance, Bajaj Finance and Cholamandalam Investment rose 1‑3% each, buoying the index.
Housing finance stocks pushed higher, with PNB Housing Finance and L&T Finance each up about 3%; auto‑ancillary names like NRB Bearings and Sona BLW Precision Forgings jumped 12% and 4% respectively.
Tata Group names took a hit; shares of Tata Group lost ₹40,000 crore in market cap, with Tata Chemicals down more than 11% after a listing‑related setback.
Chip makers continued to provide support: CG Power and Hitachi Energy rose around 3% each, and Supreme Industries added 4% after a bullish brokerage note. TCS, Infosys and Wipro lagged behind.
Looking ahead, traders will monitor the next earnings cycle for HDFC Bank and Bank of India, while the Nifty may test 23,400 support before the mid‑month rally takes shape.