Tale of the Tape 

Howdy folks!

Markets snapped a three-day losing streak, with the Nifty and Sensex ending up +0.5% each.  Midcaps (+0.8%) and Smallcaps (+0.4%) posted decent gains too. The advance-decline ratio was in favour of the bulls (4:1). Check out the NSE500 heatmap:

It was a sea of green across sectors. Real Estate (+1.7%) and Pharma (+1.3%) saw the most buying.

After the recent rally, where do markets go from here? Read our top story to get the lay of the land.

Dixon Technologies (-6%) was the top NSE 500 loser despite great Q4 numbers. Meanwhile, Gabriel India (+6%) rallied on a solid Q4 show. More details below.

JK Tyre, KPR Mills and Bharat Electronics saw big moves today. Check out their charts below to find out why.

IndusInd Bank (-2%) was the top Nifty loser ahead of its Q4 results as investors waited for the impact of its accounting scandal + MFI stress.

Tata Teleservices hit a +20% upper circuit after reports said Tata Sons may infuse capital to help it clear its spectrum & AGR dues.

Pharma stocks gained on reports of possible relief from Trump’s executive drug pricing order.

Q4 reactions. Dredging Corporation of India jumped +10% after returning to profits. Trident skyrocketed +14% after its net profit doubled on lower finance costs.

Belrise Industries IPO was subscribed 0.7x on Day 1 of bidding.

Markets
Kya Lagta Hai Market?

Hi guys! 2025 has been CRAZY so far. We kicked the year off with a continuing correction, a big FII exodus, a global trade war and then the worst India-Pak conflict since Kargil! After the recent market rally though, the big question is: where do we go from here? With Nifty flirting with 25k, there’s already some talk about valuations becoming too expensive again. To help you out, we’ve put together a quick pros and cons list.

Let’s start with what’s kinda concerning:

• Nifty PE ratio is around ~22x, up quite a bit from the 18x around March 2025 lows and not too far from the September peak of 24x.

• Valuations wouldn’t be an issue if India Inc earnings were great. Now, Q4 hasn’t been bad (10% profit growth for NSE 100 firms vs 11% in Q3). But it also hasn’t been spectacular enough to support some of these stock prices.

• A lot of potential positive triggers have been priced in already: a India-US trade deal, a Russia-Ukraine truce etc. Also there are still global worries including a US slowdown and a Japanese fiscal crisis!

That said, it’s not all gloomy. While indices look healthy, the broader market actually hasn’t recovered. FYI -  over 70% of NSE 500 stocks still trade below September levels. SAMCO Securities estimates that out of the top 750 listed firms, only ~35 have driven the recent rally. That’s GOOD news for people wanting to find value and making long-term bets.

Secondly, most analysts believe we’re building up to a strong H2-2025. An above-average monsoon, income tax cuts, low oil prices all should result in a killer Q2 & Q3 for India Inc. So take a breath and see how things pan out. FYI - Bernstein has a Nifty year-end target of 26,500!

Specials
5 Stocks Under Rs 500 - By SEBI RAs

As markets recover, which stocks should be on your radar? Check out the top Mid and Small Cap stocks under ₹500 with massive upside potential, as shared by SEBI RAs on Stocktwits.