Nifty closes at highest level in 2025 aided by gains in mid- and small-cap stocks

Indian equity indices ended at fresh 2025 highs on Monday, led by strong gains in mid- and small-cap stocks, while a decline in crude oil prices boosted downstream energy firms and consumer-focused sectors.

The Nifty 50 index rose 114 points to close at 24,461, marking its highest closing level this year, while the Sensex gained 295 points to end at 80,797. The broader market outperformed, with the Nifty Midcap 100 index surging 2% to 54,676 and the market breadth firmly in favour of advances with an advance-decline ratio of 5:2.

However, the Nifty Bank index lagged, falling 196 points to settle at 54,920, weighed down by post-earnings losses in State Bank of India

and Kotak Mahindra Bank following mixed fourth-quarter results.
Crude-sensitive stocks saw sharp moves after oil prices dipped. Upstream oil companies declined, while downstream players such as Indian Oil Corp, BPCL, and HPCL gained sharply. Paint manufacturers and airlines also rallied on expectations of margin improvements due to lower input costs.
Metal stocks snapped a three-session losing streak, with the Nifty Metal index rising over 1%. Among key movers, Mahindra & Mahindra jumped more than 3% after its quarterly profit beat estimates, driven by strength in its tractor division.

Cable maker RR Kabel soared 14% following strong earnings, lifting other stocks in the segment. Swiggy jumped 12%, marking its biggest single-day gain since listing, on robust trading volumes.

Gravita India and Parag Milk Foods rose 6% and 14%, respectively, after positive fourth-quarter updates, while IRCON International advanced nearly 4% after winning a ₹458 crore Letter of Award from NEEPCO.

Indraprastha Gas Ltd rose 7% after raising prices for the second straight month to protect margins. Peers gained on hopes of improved realisations ahead of a May 14 open house by the Petroleum and Natural Gas Regulatory Board (PNGRB) on pipeline tariff reviews.

Central Depository Services (India) Ltd recovered 5% from the day’s lows to end 1.6% lower, following positive management commentary. Meanwhile, Trent climbed 4% and was among the top gainers on the Nifty, buoyed by sustained buying interest.