ET Markets Watch: Nykaa in the spotlight, Lenskart’s shaky debut fails to dazzle despite market gains | The Economic Times Podcast

Hello everyone, you are listening to ET Market Watch with Neha Vashishth, only on The Economic Times.Indian markets started the week on a positive note – mirroring gains across Asia – as optimism grew that Washington could finally end the prolonged US government shutdown.

The Sensex rose 319 points to close at 83,535, and the Nifty climbed 82 points to end at 25,574.

The rally was led by IT heavyweights like Infosys, HCL Tech, Bajaj Finance, Asian Paints and Tata Motors, all of which rose between 1% and 2.5%. The IT index itself gained 1.6% to top the sector charts as investors bet on improving global sentiment.

In the broader market, midcaps and smallcaps also rose 0.5% and 0.4% respectively.

Among stock-specific developments, Nykaa was the standout, up almost 6% after quarterly profit more than tripled on strong festive demand.
Meanwhile, Trent fell more than 7%, its sharpest single-day decline in months, after reporting its slowest sales growth since 2021.

It was a mixed debut for Lenskart as the stock traded 3% below its issue price but recovered to close just above its IPO price by close of trade.

Experts say optimism surrounding the reopening of the US government and fresh FII inflows, coupled with strong second-quarter earnings, are boosting sentiment. Nationally, robust macro indicators are expected to support earnings upside in the coming quarters.

Global stock markets were higher across the board, with the Nasdaq, S&P 500 and European indices all rising as concerns about the shutdown eased. Oil prices rose slightly, with Brent crude hovering around $64 per barrel, while the rupee traded steady at 88.69 per dollar.

That’s all for today’s market turn. This is Neha Vashishth, and you’ve been listening to ET Market Watch, your daily poll on what’s moving the markets.