Indian equities failed to sustain early gains and ended near the day’s low on Wednesday, weighed down by selling pressure in heavyweight Reliance Industries and IT stocks. IT stocks extended losses for a second consecutive session after the US modified its H-1B visa selection process, adding to concerns around near-term outlook for the sector.
Among individual stocks, Castrol India gained nearly 2% after BP agreed to sell a majority stake in its parent entity. VIP Industries jumped nearly 12% amid expectations of a likely conclusion of a deal with Multiples PE, following a 26% equity block transaction. Coforge extended its decline, falling 7% over the past two sessions ahead of a board meeting to consider fundraising options.
Ajanta Pharma rose over 2% after signing an in-licensing agreement with Biocon for semaglutide. Defence stock Bharat Dynamics surged more than 3% after DRDO completed user evaluation trials of the Akash-NG missile system.
In the commodities-linked space, Manappuram Finance rallied nearly 7% to hit a record high, tracking the rise in gold prices. Hindustan Zinc climbed over 2%, while Hindustan Copper advanced more than 7% as silver and copper prices touched record highs. Vikram Solar Engineering surged 11% after securing a ₹2,035 crore order for a 600 MW solar EPC project.
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