India Market Wrap: Reliance Hits 4-Month High, Defence Stocks Rally Even As Benchmark Indices Remain Rangebound

Sectorally, metals, pharmaceuticals, and banking stocks witnessed selling pressure, while technology, consumer durables, and oil and gas stocks bucked the trend.

Benchmark indices concluded Tuesday's trading session on a flat note, influenced by subdued global signals and heightened tensions on the India-Pakistan border, which dampened investor confidence.

Nifty held the 24,300 mark, while Sensex closed at 80,246. Broader markets relatively outperformed.

On Stocktwits, retail sentiment surrounding the Nifty 50 remained ‘bullish.’ 

Sectorally, metals, pharmaceuticals, and banking stocks witnessed selling pressure, while technology, consumer durables, and oil and gas stocks bucked the trend.

Reliance Industries (RIL) shares closed over 2% higher, hitting a four-month high. The stock’s sustained rally has propelled Mukesh Ambani back into the $100 billion club, according to the Forbes list.

Defence stocks gained ground for the second consecutive session. The Nifty Defence Index rose 5%, led by strong buying in Paras Defence (+20%), Data Patterns (+15%), GRSE (13%), Cochin Shipyard (+9%), Mazgaon Dock (+8%) and 3% to 5% move across counters like Bharat Electronics (BEL), Hindustan Aeronautics (HAL), and Bharat Dynamics (BDL). 

TVS Motor shares fell 4% despite strong Q4 earnings as analysts remained divided on the outlook going forward.

Meanwhile, shares of Trent gained 5% as investors cheered a strong performance in its fourth-quarter earnings. 

Globally, sentiment remains muted. European markets traded mixed, while Dow Futures pointed to a cautious start on Wall Street.

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