Nifty 50 Top Gainers and Losers Today: Bajaj Auto, Nestle India, Tata Consumer Gain; IndiGo, Jio Financial, Infosys Decline

The Indian stock market remained under pressure on Wednesday as investors navigated a mix of global and domestic headwinds. Crude oil prices stayed elevated amid the continuing conflict in West Asia, while comments from US President Donald Trump on tariffs for imported generic medicines sparked fresh selling in pharmaceutical stocks.

The weakness was visible across the broader market as well. Realty, media and PSU banking shares remained under pressure through the session, while IT stocks traded lower ahead of more June-quarter earnings. Even so, a few pockets of the market bucked the trend, with automobiles, FMCG and utilities attracting selective buying.

Bajaj Auto stood out after reporting a stronger-than-expected June-quarter performance. The earnings beat, coupled with healthy margins and encouraging commentary on exports, lifted the stock nearly 6% and made it the day's best performer on the Nifty 50.

Defensive buying returned to FMCG counters as volatility persisted elsewhere in the market. Nestle India and Tata Consumer Products both attracted investors looking for businesses with relatively stable earnings and domestic demand, even as the benchmark traded lower.

Energy and utility names also found support. ONGC benefited from firm crude oil prices, which improve the earnings outlook for upstream producers, while Power Grid Corporation edged higher as investors sought the relative stability of regulated utility businesses.

Airline stocks remained under pressure as elevated crude oil prices kept concerns over aviation fuel costs alive. InterGlobe Aviation (IndiGo) extended its decline, reversing part of the recovery seen in previous sessions.

Technology shares also struggled. Infosys weakened ahead of its quarterly earnings as investors awaited management commentary on client spending, discretionary technology budgets and AI-led demand. The broader IT pack traded cautiously through the session.

Pharmaceutical stocks came under fresh pressure after Trump's proposal to impose steep tariffs on imported generic medicines. The development weighed on companies with sizeable exposure to the US market, pulling Dr Reddy's Laboratories lower.

Selling was also visible in financials.Jio Financial Services and State Bank of India slipped as investors trimmed exposure ahead of more earnings announcements, extending the broader weakness across banking and financial stocks.

Midcap and Smallcap Stocks Also Witness Selling Pressure

The broader market reflected a similar trend, with stock-specific moves dominating trading.

Within the Nifty Midcap 100, Mahindra & Mahindra Financial Services, Kalyan Jewellers India, PI Industries and Polycab India finished among the leading gainers. On the other hand, Premier Energies, One 97 Communications (Paytm), Waaree Energies and Dixon Technologies were among the biggest losers.

The Nifty Smallcap 100 also saw mixed action. Data Patterns (India), Aegis Logistics, Great Eastern Shipping Company and Poonawalla Fincorp ended higher, while Bandhan Bank, PG Electroplast, Ola Electric Mobility and Piramal Pharma featured among the day's sharpest declines.

What to Watch Next

Markets are expected to remain driven by stock-specific developments as the June-quarter earnings season gathers pace. Alongside corporate results, investors will continue tracking crude oil prices, developments in West Asia and any further clarity on the proposed US tariff measures for pharmaceutical imports.

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