Investors await US-Russia talks on Friday that could impact India’s trade outlook.
Indian equity markets ended higher tracking positive global cues and easing retail inflation data. The Nifty index reclaimed the 24,600 level, led by pharma, metals and auto.
Investors keenly await developments at Friday’s meeting in Alaska between US President Donald Trump and Russian President Vladimir Putin, where they are expected to discuss the Russia-Ukraine conflict. This will have a significant bearing on India’s trade deal negotiations with the US.
On Wednesday, the Sensex closed 304 points higher at 80,539, while the Nifty 50 ended up 131 points at 24,619. Broader markets mirrored the positive sentiment, with the Nifty Midcap and the Smallcap indices rising 0.6%.
And the retail investor sentiment surrounding the Nifty 50 remained ‘bullish’ by market close on Stocktwits, amid ‘high’ message volumes.
Stock Moves
Sectorally, most indices ended in the green with strong buying action in pharma (+1.7%) and metal (+1.2%) indices.
Defense stocks rallied on Wednesday: Bharat Dynamics rose 7%, GRSE up 5%, BEML gained 4%, while HAL and BEL rose 2%.
IndusInd Bank fell over 1% on reports that Mumbai’s Economic Offences Wing has initiated a preliminary enquiry into an alleged accounting lapse at the bank.
In earnings movers, Apollo Hospitals surged 8%, Hindalco, Nykaa, Honasa and Force Motors gained 5% on strong earnings show.
Samvardhana Motherson shares rose 3% after the management clarified in its post-earnings statement that the recent US tariffs on India will have minimal impact on their operations.
Earnings casualties include Insecticides India that fell 12% and NSDL which fell 6%.
Paytm ended 3% higher after the Reserve Bank of India gave its subsidiary an in-principle approval to operate as an online payment aggregator, reversing a 2022 ban on onboarding new merchants.
And Waaree Energies fell 5% as the US initiated investigations into antidumping and countervailing duty.
Stock Calls
Suzlon fell 4% despite solid Q1 earnings, as CFO resignation spooked investors. However, analyst Sumesh Guleria said that fundamentals remain solid. Support is seen around ₹50–₹55 and he is not worried about the selloff on Wednesday.
Markets: What Next?
Globally, European markets traded higher, while US stock futures indicate a positive start on Wall Street.
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