The Sensex and Nifty extended their gains in afternoon trade on Wednesday. They were supported by buying in auto, fast-moving consumer goods (FMCG) and realty stocks.

This, even as investors kept a close watch on rising tensions between the United States and Iran. At 12:26 pm, the Sensex was up 0.74% while the Nifty 50 was up 0.70%.

The broader market also remained firm. At 12:26 pm, the:

• Nifty Midcap 100 index was up 0.25%

• Nifty Smallcap 100 index was up 0.24%

Top Stocks On Nifty 50

Stocks of the following companies emerged as the top five performers on the Nifty 50 index at 12:27 pm:

• Eternal Ltd.

• Asian Paints Ltd.

• Nestle India Ltd.

• Adani Ports & Special Economic Zone Ltd.

• Hindustan Unilever Ltd.

Stock-Specific Action

• Cupid shares rose nearly 2% in early trade after the company raised its FY27 guidance, with Q1 revenue to top ₹150 crore.

• KPIT Technologies shares hit a 10% lower circuit after the company announced a profit warning for the April-June quarter.

• Mahindra & Mahindra shares rose 3% in early trade after the company reported strong sales across its automotive and tractor business, both of which beat market estimates.

• RailTel Corporation of India shares gained 2.3% in intraday deals after the company bagged a domestic order worth approximately ₹106.71 crore from Mahanadi Coalfields.

• Reliance Power shares surged 10% in early trade after the company declared that it has taken steps to venture into artificial intelligence (AI) and the new-age technology space.

Also Read- SEBI Suggests Uniform Consent Rules, Tighter Conflict Checks For AIFs

IPO Corner

In the primary market, Knack Packaging’s initial public offering (IPO) opened for bidding today. Through the IPO, the company plans to raise ₹439.5 crore. Also, today is the last day of bidding for these IPOs:

• Aastha Spintex

• Adon Agro Commodities

Markets are likely to remain stock-specific in the remaining part of the session, with investor focus expected to stay on developments related to the US-Iran conflict and sectoral buying trends.