India Market Wrap: Nifty Reclaims 24,800 Led By Buying In Pharma, Real Estate, BEL

Indian markets rebounded on Wednesday as gains in realty and pharma stocks helped indices end in the green. 

This comes after Tuesday’s session saw a sharp selloff in the final hour, which had rattled investor sentiment. 

Support from midcaps and stock-specific action post earnings also lent support to the market.

The Nifty 50 rose 129 points to close at 24,813, reclaiming the crucial 24,800 mark, while the Sensex added 410 points to settle at 81,596. 

The broader markets mirrored the gains, with the Nifty Midcap 100 gaining 0.7%.

Sector-wise, real estate and pharmaceuticals led the uptrend, with stocks like Sun Pharma and Cipla rising nearly 2% each, and Gland Pharma climbing 5%. 

Consumer durables was the only sector to end in the red, reflecting some rotation away from defensives.

On the earnings front, several stocks saw sharp moves: Trident surged 14% after it reported a two-fold jump in profits, primarily driven by lower finance costs.

NTPC Green Energy, the newly listed demerged arm of NTPC, surged 4% as margins expanded to a solid 90% in its fourth-quarter. 

Bharat Electronics (BEL) hit a 52-week high, rising 5%, after issuing strong margin guidance. Consequently, brokerages too raised their target prices. 

On the flip side, Dixon Technologies, despite posting strong Q4 numbers, witnessed profit booking (-6%). JM Financial downgraded the stock to ‘Hold’, and trimmed its target price to ₹15,650.

IndusInd Bank slipped 2% ahead of its earnings announcement.

In other stock movers, Tejas Networks rose 3% after bagging supply orders worth ₹1,525 crore from TCS.

Retail investor sentiment remained ‘neutral’ on Stocktwits, reflecting a wait-and-watch approach.

Globally, European markets traded lower, and U.S. futures pointed to a weak open as investors monitored trade tensions and a brewing debate over the U.S. tax bill. 

Meanwhile, oil prices edged higher following reports that Israel may be preparing strikes on Iranian nuclear facilities—raising concerns of fresh supply disruptions in the Middle East.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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