Nifty Reclaims 24,000 as Infosys Exits Top 10 Valued Firms; Sun Pharma Surges on $11B Deal

The Indian stock market staged a robust recovery today, snapping a brutal three-day losing streak despite global crude oil hovering heavily above the $100 mark. The BSE Sensex rallied by 639.42 points (0.83%) to close strongly at 77,303.63, while the broader NSE Nifty 50 gained 194.75 points (0.81%) to comfortably reclaim the psychological 24,000 level, settling at 24,092.70.

The trading session was defined by massive shifts in corporate valuations. IT giant Infosys suffered a brutal sell-off, losing over Rs 2 lakh crore in market capitalization following a highly weak forward-growth outlook. This dramatic plunge resulted in Infosys officially tumbling out of India's top 10 most valued firms list, with the Life Insurance Corporation (LIC) swooping in to replace it. In stark contrast, the pharmaceutical sector witnessed explosive buying momentum. Sun Pharma emerged as the absolute star of the day, surging over 7% after announcing a colossal $11.75 billion deal to acquire Organon. This mega-acquisition marks the biggest bet in Indian pharma history and was heavily cheered by investors for its aggressive global expansion strategy

In the broader markets, MobiKwik shares jumped 15% following the RBI's official approval of its NBFC license, sparking massive retail interest. While the overarching sentiment remains highly cautious due to stalling geopolitical peace talks, today's broad-based recovery indicates that domestic investors are heavily capitalizing on value buys.