Nifty, Sensex Rebound After 4-Day Fall IIFL Finance, SAIL and Berger Paints Lead Rally

Indian stocks managed to rebound modestly on Wednesday following four consecutive sessions of losses amid selective buying in mid-caps and small-caps stocks, despite modest gains as crude oil prices were higher, geopolitical risks loomed, and there was a steady outflow of foreign funds.

The Nifty 50 index rose 0.3% to close at 23,450.25, and the Sensex added 0.2% to end at 74,717.72 around 10:27 am IST. Mid and small-caps stocks performed better compared to benchmarks, as mid-caps climbed 0.9% while small-caps gained 1%. All but two out of 16 sectors recorded gains on Wednesday.

Top Gainers: IIFL Finance, SAIL and Berger Paints Lead Rally

IIFL Finance Rallies on Strong Earnings

The share price of IIFL Finance increased 10% due to good Q4FY26 results and volume support.

The trading volumes were up at 2.31 crore shares from a 30-day moving average of 27.47 lakh shares. The rise came after the company reported strong results with AUM increasing 38% YoY to ₹1,08,180 crore, total income increasing 51% to ₹2,090 crore, and net profit jumping 148% to ₹623 crore. Gross NPA stood at 1.5% and Net NPA at 0.7%.

On the flip side, an income tax notice of ₹475.6 crore kept investors cautious. Nonetheless, the move was still fundamentally earnings-driven.

IIFL Finance is a Non-Banking Financial Company (NBFC). It offers retail loans, gold loans, and SMEs financing.

SAIL Gains on Leadership Change and Optimism

Steel Authority of India Limited witnessed an increase of 10% on account of good volumes and hopes for a leadership change.

The volume increased to 5.44 crore shares compared to the average 2.54 crore. The company saw an increase in its share price after Ashok Kumar Panda became the CMD from May 9, expecting better efficiencies and expansion in capacity up to 35 million tonnes per year.

Apart from this, there was a wait for the financial results that would be released on May 15. It was more of a speculation-based increase.

SAIL is a public sector undertaking that produces steel and steel products.

Berger Paints Surges on Strong Q4 Performance

Berger Paints India Ltd surged 9% due to robust Q4FY26 performance and margins.

Volumes soared to 62.21 lakh against the 30-day average volume of 3.42 lakh. Total sales increased 6.7% to ₹2,504 crore, while net income climbed 38% to ₹327 crore. The decorative business witnessed significant growth, with gross margins hitting an all-time high of 42.3% and operating margins widening by 170 basis points to 18.3%.

The gain was led by earnings and profits.

Berger Paints is one of India’s largest decorative and industrial coating companies.

Top Losers: Pine Labs, Torrent Power and eClerx Under Pressure

Pine Labs Falls on Profit Booking

Pine Labs shares fell by 9.9% following some profit-taking after experiencing some volatility. The firm did not have any particular catalyst for its action because there were high volumes in the market. It was mostly due to sentiment in the fintech stocks.

Torrent Power Slips on Weak Sentiment

In Torrent Power, the fall stood at 6.89%, which was due to weakness in the sector as well as some profit-taking. There was no major development in relation to Torrent Power itself. The Company is an integrated electric power generation and distribution company.

eClerx Declines on IT Sector Weakness

eClerx Services declined by 5.79% on account of IT and BPM sector weakness and valuation worries. Moderate trading volume implied selling interest but no catalyst from the company side. The stock tracked overall mid-cap IT sector weakness. eClerx Services offers data analytics and business process management services around the world.

Conclusion

The movement in the market was driven by stock-specific movements rather than a directional trend. The rise in IIFL Finance, SAIL, and Berger Paints was due to robust earnings and earnings estimates, while the fall in Pine Labs, Torrent Power, and eClerx was sentiment-driven and sector-specific.

The index rally was tepid, but high volatility is expected amid geopolitical risks, rising crude prices, and foreign fund outflows.