The Indian stock market made a cautious but strong start on Wednesday. Even though the market opened flat in the initial trade, later on the basis of good global signals and buying in selected stocks, the market came into the green. The Sensex was seen trading around 85,663 with a gain of about 140 points, while the Nifty rose by 40 points and reached near the level of 26,217. However, due to selling in IT sector shares, there was some break in the momentum.
Shriram Finance, Hindalco Industries, Axis Bank, Jio Financial Services and Cipla were the major gainers in Nifty 50 today. Strong buying was seen in these shares, which provided support to the market. On the other hand, big stocks like Tech Mahindra, TCS, Titan Company, Dr. Reddy’s Labs and Tata Consumer Products declined. Especially the pressure was clearly visible on IT stocks, which have remained the weak link of the market in recent sessions.
Talking about the last trading session, Indian markets failed to maintain the initial gains and closed after slipping from the day’s upper levels. In such a situation, investors are watching today’s recovery with caution.
Which stocks will be in focus today?
Federal Bank
Shares of Federal Bank may remain in focus today. Competition Commission of India (CCI) has approved US investment firm Blackstone to buy 9.99% stake in the bank. The investment will be made through warrants through Blackstone’s unit Asia II Topco XIII PRETE Limited. This fund inflow may increase movement in bank shares.
Adani Ports and Special Economic Zone
Adani Ports has finalized the acquisition of Australia’s North Queensland Export Terminal. After this deal, the company has increased its FY26 EBITDA outlook to Rs 22,350-23,350 thousand crore. Also, the cargo volume is estimated to be 545-555 MMT. This is considered a big step in terms of CAPEX expansion.
Tata Steel
CCI has approved Tata Steel to buy the remaining 50% stake in Tata Bluescope Steel T. Now the company will become the full owner of this joint venture, which is expected to increase capacity and revenue in the coming time.
Aurobindo Pharma
Aurobindo Pharma has announced the purchase of additional 20% stake in its China-based joint venture. The company will spend about $5.12 million on this deal, which can support long-term growth.
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