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The Nifty IT index closed 0.11 per cent down at 40776.35.

​Stocks worth over Rs 10,000 crore were considered and the list was further curated to include those that have grown over 100% in the past year.

Consumer durables and auto sectors led the market rally, closing 1.12% and 0.6% higher, respectively. However, FMCG, IT, Pharma, PSU Bank, and Healthcare sectors faced declines. Despite this, the total market capitalization on BSE saw a significant increase of Rs 1.06 lakh crore, reaching Rs 460.98 lakh crore. Overall market sentiment remained positive with 2,297 stocks advancing against 1,605 declining, indicating a bullish trend.

Short covering involves purchasing shares to close a short position, indicating a transition from strong bearishness to optimism. On Tuesday, five stocks experienced short covering.

Engine oil maker Castrol India reported a 3.1% increase in second-quarter profit on Thursday as the continuing rise in vehicle sales boosted its mainstay business of automobile lubricants and helped offset the rise in costs.

Oil steadied on Tuesday near its lowest levels since early June as worries about demand in China were balanced by a government pledge of policy measures for the economy and the prospect of lower U.S. crude and product inventories.

Realty developer Arvind SmartSpaces has reported over 44% on-year decline in net profit at Rs 5 crore for the quarter ended June. The company’s revenue from operations rose 11% from a year ago to Rs 75 crore.

Maruti Suzuki reported steady revenue growth for Q1 June 2024, marking a 7% year-on-year increase, with strong volume growth in utility vehicles. The company saw a significant 30% rise in net profit. Enhanced EBITDA margins were supported by reduced raw material costs and an improved product mix, despite flat average selling prices.

Indian Oil Corp reported an 81% drop in standalone net profit to Rs 2,643 crore in Q1, down from Rs 13,750 crore a year ago. Revenue fell 2% YoY to Rs 2.15 lakh crore. EBITDA was Rs 8,636 crore with margins at 4.5%. Total expenses increased to Rs 2.13 lakh crore from Rs 2.03 lakh crore.

Kitchen appliance and cookware manufacturer TTK Prestige on Tuesday announced that its board will consider a buyback of shares in its upcoming board meeting on August 2, following which the shares of the company surged 4% to Rs 939.55 on BSE.