• Market performance: The Nifty rose 150 points or 0.6% to reach 24,170, while broader markets underperformed with the small-cap and mid-cap indices gaining just 0.1% and 0.2%, respectively.
• Dalmia Bharat upgrade: Dalmia Bharat gained 2% after Goldman Sachs upgraded the stock from neutral to buy, citing attractive valuations and expectations of strong sector growth with major cost pressures already priced in.
• Crude beneficiaries: Four consecutive sessions of cooling crude oil prices lifted tire manufacturers by 1.5% to 3% on lower input cost expectations and boosted InterGlobe Aviation by over 3% on improved margin outlooks.
• Sterlite Tech QIP: Sterlite Tech hit a 5% upper circuit after its board approved a ₹1,500 crore qualified institutional placement at a floor price of ₹613.7 per share, intended primarily for debt repayment.
• Commodity-linked declines: Aluminum stocks including Nalco and Hindalco fell following a nearly 4% drop in LME aluminum to $3,100 per ton, while gold financiers declined due to eight-month low gold prices dampening loan and AUM growth outlooks.