The Indian stock market opened cautiously but strongly on Wednesday. Although the market opened flat in early trade, it later moved into the positive zone on the back of positive global cues and buying support in select stocks. The Sensex was trading around 85,663 with a gain of about 140 points, while the Nifty rose by 40 points to reach the level of 26,217. However, selling pressure in IT sector stocks reduced the gains to some extent.
In Nifty 50, Shriram Finance, Hindalco Industries, Axis Bank, Jio Financial Services and Cipla were among the top gainers today. Strong buying was seen in these shares, which provided support to the market. On the other hand, heavyweight stocks like Tech Mahindra, TCS, Titan Company, Dr Reddy’s Labs and Tata Consumer Products witnessed losses. The pressure on IT stocks was particularly visible, as they had been the weak link in the market in the last few sessions. In the last trading session, the Indian market failed to maintain early gains and closed below the day’s high. Therefore, investors are watching today’s recovery cautiously.
Stocks to watch today:
Federal Bank
Shares of Federal Bank may remain in focus today. The Competition Commission of India (CCI) has approved the acquisition of 9.99% stake in the bank by American investment firm Blackstone. This investment will be made through warrants through Blackstone’s unit Asia II Topco XIII Private Limited. With the arrival of this fund, activity in bank shares may increase.
Adani Ports and Special Economic Zone
Adani Ports has finalized the acquisition of the North Queensland Export Terminal in Australia. After this deal, the company has raised its EBITDA outlook for FY26 to ₹22,350-23,350 crore. Cargo volume is also estimated to be 545-555 MMT. This is being considered a big step in terms of CAPEX expansion.
Tata Steel
CCI has approved the acquisition of the remaining 50% stake in Tata Bluescope Steel by Tata Steel. The company will now become the sole owner of this joint venture, which is expected to increase capacity and revenue in the future.
Aurobindo Pharma
Aurobindo Pharma has announced the acquisition of additional 20% stake in its China-based joint venture. The company will spend approximately $5.12 million on this deal, which can help in long-term growth.