Jun 5, 02:05 AM

Swiggy Surges 9% on Morgan Stanley Rating; Eternal Rallies 11% as Nifty Snaps 3-Session Losing Streak

Indian equity markets showed positive momentum over June 4 and 5, 2025, with notable gains in the quick-service restaurant (QSR) and food delivery sectors. Swiggy shares rose by 8-9% following Morgan Stanley's initiation of coverage with an 'overweight' rating. Eternal, the company formerly known as Zomato, experienced a rally of up to 11% over two days, closing as the top gainer on the Nifty index with a 5% increase on June 5. Other prominent gainers included Bharti Airtel, which rose about 2%, Reliance Industries up over 1%, and HDFC Bank, which closed 1% higher after SEBI approved a ₹12,500 crore initial public offering for HDB Financial Services. The Nifty index snapped a three-session losing streak, led by gains in Eternal, Jio Financial Services, and Dr Reddy's Laboratories. Sectoral performance was strong in IT, banking, and auto stocks, with top gainers including Infosys, Tata Motors, and Wipro, while Coal India, Hindalco, and Nestle India were among the losers. The market's upward trend was supported by positive brokerage notes and renewed buying interest following strong global earnings.