In the second half of the session, the market saw a strong recovery, regaining more than 150 points from the day’s low, and ultimately settled with a gain of 89 points at 24,667.
The Indian equity market ended largely in the green, with buying continuing in broader markets. The Nifty Midcap Index rose more than 1%, compared to minor gains for the Nifty.
Financials underperformed, with the Nifty Bank index closing in the red. The Nifty Bank index fell 140 points to end at 54,801.
Buying continued in defence names, with stocks rising up to 15%. Shares of state-run defence equipment manufacturer Hindustan Aeronautics Ltd. rose following its March quarter numbers.
REC Ltd. slipped 3% as the company cut its growth guidance for its Assets Under Management (AUM) during its earnings call on Wednesday, May 14. REC now expects its AUM to grow between 11% and 13% from 15% and 17% projected earlier.
Mumbai-based drugmaker Cipla Ltd., a Nifty 50 constituent, has warned in its earnings call that its margins for financial year 2026 and 2027 will be lower than current levels as a key drug fully phases out. In response, the stock fell 2%.
On the earnings front, quarterly results from LIC Housing Finance, JSW Energy, Cochin Shipyard, Godrej Industries, Patanjali Foods, INOX India, Kaynes Technology, Irm Energy, Balrampur Chini Mills, and ITC Hotels are expected to drive stock-specific action on Thursday’s trading session, which will also be the weekly options expiry day.
Additionally, stocks like Eicher Motors, Tata Power, Cipla, among others will also be in the spotlight tomorrow, as these companies reported their Q4 numbers after market hours on Wednesday.
Both domestic and foreign investors were net buyers in the cash market on Wednesday.
Siddhartha Khemka of Motilal Oswal said the positive momentum in Indian markets is likely to persist, supported by easing geopolitical tensions, progress on trade agreements, and improving signs of macroeconomic stability.
The bullish trend is well intact for Nifty as it has been holding its level above all key moving averages, said Nandish Shah of HDFC Securities. “On the downside, strong supports for Nifty are placed at 24,500 and 24,378, while on the upsides 24,850 and 24,975 could offer resistance.”
According to Rupak De of LKP Securities, the Nifty traded within a narrow range today, following two days of high volatile moves. The short-term trend remains positive, as the index continues to remain above critical moving average.
After a sharp rally, this sideways movement appears to be a healthy consolidation, suggesting the market is catching its breath before the next move.
The analyst said that as long as the Nifty stays above the crucial support level of 24,400, the bulls are likely to maintain their grip. In the near term, the index might move towards the 24,850–25,000 range. However, a drop below 24,400 could delay this upward trajectory and lead to further consolidation.
Here are the stocks to watch ahead of Thursday’s trading session:
– State Bank of India to consider fund raising of up to $3 billion via public offer or other currency in FY26 on May 20.
– Genesys International launches QIP today, sets floor price at ₹665.60 per share.
– Apollo Tyres reported Q4 earnings. Net profit fell 47.9% at ₹184.5 crore as against ₹354 crore (YoY). Revenue rose 2.6% at ₹6,423.5 crore as against ₹6,258 crore (YoY). EBITDA fell 18.5% at ₹837.2 crore, while margin stood at 13%.
– Hindustan Unilever gets observation letter with ‘no adverse observations’ from exchanges (NSE & BSE) on scheme of arrangement with Kwality Wall’s India.
– Infosys completes stake sale in Infosys-led JV in Japan, HIPUS to Mitsubishi Heavy Industries.
– Brigade Enterprises acquires 5.41 acres of land parcel in Chennai for premium residential development for ₹441.7 crore. Gross development value of the project is approximately ₹1,600 crore.
– IREDA files insolvency application against Gensol Engineering for default of ₹510 crore.
– Shilpa Medicare says, Unit-1 Of arm Shilpa Pharma Lifesciences has received Establishment Inspection Report (EIR) From US FDA. The site is classified as Voluntary Action Indicated (VAI). US FDA inspected the unit-1 of the arm from March 3-7, 2025.
– Wendt India OFS: Parent Wendt GmbH to sell up to 37.5% stake via offer for sale including Green Shoe of 7.5% in the company.
