Broader markets sharply outperformed, with the Nifty Midcap 100 climbing 551 points to 57,665. Market breadth was positive, with the advance-decline ratio at 5:2.
Reliance Industries was the top contributor to Nifty gains, advancing 3% after reports that its telecom arm Jio could benefit from potential tariff hikes. Autos also rallied after reports suggested China may lift curbs on rare-earth magnet exports, aiding global supply chains. Tata Motors, Bajaj Auto, Hero MotoCorp, Samvardhana Motherson and Sona BLW were among the top gainers.New-age stocks extended their recent run, with Eternal and Paytm leading the pack, while textile stocks surged after the government scrapped import duties on cotton. Raymond jumped 11%.
PNB Housing rose 4% after exiting the futures and options ban list, while Jayaswal Neco gained 10% on strong volumes. FMCG and consumer durables advanced 2-3% on hopes of GST rate cuts.
Among laggards, Glenmark Pharmaceuticals reversed all gains made after announcing a cancer drug deal last month. GAIL added 1% after sources said the regulator PNGRB could approve tariff revisions in September. Astral and Supreme Industries rose 2-4% after the Directorate General of Trade Remedies recommended anti-dumping duties on PVC resin imports.

