Indian benchmarks traded lower on Wednesday despite a rate cut by the Reserve Bank of India, as escalating trade tensions continued to weigh on investor sentiment.
The central bank cut the key repo rate for the second consecutive time. It also shifted its stance from 'neutral' to 'accommodative', citing the need to cushion the economy against the impact of US tariffs.
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Losses were broad-based with Nifty IT and PSU Bank dragging the most. Only three of the 15 Nifty sectoral indices ended in the green, with FMCG leading the pack.
NDTV Profit picked up the following cues from dealing room chatter during trade:
Varun Beverages
Foreign institutional investors were active buyers in Varun Beverages Ltd. Dealers said the perceived threat from Campa Cola has softened, with expectations of limited impact on the company's market share.
Aarti Industries
Large high net-worth investors were seen accumulating Aarti Industries Ltd. shares. Dealers cited optimism around upcoming earnings and minimal exposure to sectors likely to be hit by Trump's tariff push.
BSE
Domestic institutional desks were active buyers in BSE Ltd. Volumes held steady despite broader market volatility, which dealers believe reflects steady retail participation on the exchange.
Muthoot Finance
Positional buy trades were spotted from large high net worth individuals in Muthoot Finance Ltd. Dealers noted that the RBI's draft proposals on gold loans are likely to have a limited adverse impact on the company.
Divis Lab
Divi's Laboratories Ltd. was among the few pharmaceutical stocks trading in the green. Dealers expect a favourable brokerage note from a multinational firm, with potential for a stock upgrade.
GMR Airports
Dealers flagged active buying from a large mutual fund in GMR Airports Infrastructure Ltd. The stock drew interest despite the weak broader market mood.
Disclaimer: The mentioned stocks capture NDTV Profit's dealing room channel checks during trading hours. The information provided is for informational purposes. However, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the information. This content does not constitute financial, investment, or trading advice and should not be construed as a recommendation to buy, sell, or hold any securities.
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