Market snapshot & intraday flow
By 15:22 IST, the Sensex was down roughly 370 points and the Nifty hovered around 25,850. Breadth showed two-speed action: BSE midcap and smallcap indices rose about 0.5% each, while heavyweight IT, auto and pharma names saw selling pressure. Realty, capital goods, power and select PSU stocks attracted buying interest.
Active names included Kaynes Technologies, InterGlobe Aviation (IndiGo), BSE, JSW Energy and Anand Rathi among the most traded on the NSE.
IndiGo operations stabilise market reaction
InterGlobe Aviation’s stock recovered ground after management and the CEO said operations were now “fully stabilised” and running more than 1,800 flights. The airline said on social media that restoration of network and flights was being managed on a “war footing.”
Despite operational normalisation, analysts flagged near-term volatility around potential regulatory action and higher pilot costs. InterGlobe traded near ₹5,000, responding positively to the operational update.
IPOs & subscription trends
Market attention also centred on fresh listings and retail appetite. CORONA Remedies’ IPO was subscribed more than five times by early afternoon, with strong retail and NII interest. Wakefit Innovations, however, remained undersubscribed overall on Day 2.
Broker comments suggested selective IPO enthusiasm investors are choosy, rewarding proven earnings visibility and growth stories while passing on less-certain prospects.
Sector highlights and stock movers
Kaynes Technologies jumped on positive broker calls and strong trading volumes after Macquarie reiterated an outperform stance. Solarworld Energy Solutions won an EPC order for a large battery energy storage project and rose on that news.
SpiceJet surged as it announced capacity expansion amid market chatter that airlines would add flights following IndiGo’s disruption. Federal Bank saw a large block trade; banking and financial names showed pockets of strength.
Macro & currency
The rupee strengthened by about 21 paise to trade near ₹89.88 per dollar, easing some concerns over import costs. Yet geopolitical headlines including fresh US trade rhetoric affecting rice imports kept volatility alive in agricultural and commodity-linked counters.
Market strategists warned that currency swings add pressure to import-heavy sectors such as auto and pharma, while exporters may see gains on translation effects.
Technical view & strategist calls
Technical analysts noted recovery attempts in smallcaps and midcaps from intraday lows, while several large caps lagged, creating a narrow market leadership. Choice Broking’s research indicated stocks finding support near long-term moving averages, suggesting potential bounce candidates.
Advisers recommended stock-specific selection over broad bets, urging investors to watch liquidity flows and upcoming IPO allotments.
What investors should watch next
- Regulatory statements on aviation and any enforcement action impacting airline costs.
- IPO subscription updates and allotment flows over the next 24–48 hours.
- Rupee movement and its impact on import-dependent sectors.
- Global cues, including US trade announcements and European market direction.
