Indian equity markets delivered a mixed performance in 2025, with benchmark indices posting moderate gains, while sectoral trends and stock-specific moves told a more dramatic story. The NSE Nifty 50 rose 10.5%, supported by strong rallies in financials and autos, even as small-cap stocks slipped 6%.
Among the Nifty 50 constituents, Shriram Finance Ltd emerged as the biggest gainer, soaring 71%, followed by Maruti Suzuki India Ltd, which saw 54% gains, Eicher Motors that zoomed 51%, Hindalco Industries with 47% gains, SBI Life Insurance with a 46% surge, and Bajaj Finance which saw 44% gains. These gains were driven by earnings and sectoral tailwinds in autos and financial services.
On the flip side, Trent led the losers with a steep 40% decline, spotlighting the pressure on retail and discretionary spending. Tech majors also struggled, with TCS down 21% and HCL Tech losing 15%, while Tata Motors (PV) fell 18% and Powergrid slipped 14%, signaling weakness in IT and select industries.
The broader market saw sharper contrasts. In the Nifty Midcap 100, L&T Finance surged 131%, while Aditya Birla Capital doubled, zooming 100%, and AU Small Finance Bank jumped 80%.
On the other hand, Oracle Financial Services plunged 40%, with Premier Energies declined 37% and Kalyan Jewellers down 36%, was among the worst performers.
Small-cap action was even more volatile. Force Motors skyrocketed 217%, followed by Ather Energy, which was up 151%, and Hindustan Copper with 112% gains, reflecting strong momentum in niche plays. Tejas Networks crashed 62%, and Ola Electric tumbled 57.5%, highlighting risks in emerging tech and EV segments.
Sectorally, PSU Banks, which was up 31%, Metals that gained 29.5%, and Autos which was up 23% outperformed, while IT declined 12%, Realty dipped 17%, and FMCG which was down 2.28% lagged.