Mid-day market check: SENSEX drops over 250 points, NIFTY50 below 24,800; IndusInd Bank, BSE, Zydus Wellness among buzzing stocks

The Indian equity benchmarks fell sharply lower in noon deals and were witnessing a bout of heightened volatility as most of the sector gauges came under selling pressure. The SENSEX fell as much as 588 points from the day's highest level and NIFTY50 index touched an intraday low of 24,766 after hitting high of 24,947.

As of 12:12 pm, the SENSEX was down 160 points at 81,420 and NIFTY50 index declined 37 points to 24,816 dragged down by losses in ICICI Bank, HDFC Bank, Infosys, Tata Consultancy Services, Kotak Mahindra Bank and Hindustan Unilever.

Here are buzzing shares in Wednesday's session:

IndusInd Bank is on track for a turnaround, according to Nomura, which highlighted that most of the bank’s legacy issues have now been addressed. The global investment bank expects the IndusInd Bank’s return on assets (RoA) to improve steadily to 1% by FY27.

Nomura said that the board’s commitment to enhancing governance standards, coupled with the ongoing search for a new CEO and a clear strategy to begin FY26 with a "clean slate", signals a constructive shift in the bank’s outlook. These measures are seen as crucial positives that may boost investor confidence in the months ahead.

True North, through its affiliate Threpsi Care LLP, offloaded 46.27 lakh shares, or a 7.27% stake, in Zydus Wellness, as per the block deal data on the National Stock Exchange (NSE).

The shares were sold at an average price of ₹1,900 apiece, taking the transaction value to ₹879.15 crore.

Meanwhile, Parag Parikh Financial Advisory Services (PPFAS) mutual fund purchased the shares.

The block deal data on the NSE that was updated in the evening showed that Samayat Services LLP, one of the promoter entities of supermarket chain Vishal Mega Mart, divested a 19.6% stake in the company for ₹10,220.40 crore through open market transactions.

Samayat Services LLP is a special-purpose vehicle owned by private equity firm Kedaara Capital and Switzerland-based Partners Group.

According to the bulk deal data on the National Stock Exchange (NSE), Samayat Services LLP offloaded a total of 90 crore shares in two tranches, representing a 19.58% stake in Gurugram-based Vishal Mega Mart.

This development marks a reversal of the current schedule, where BSE holds F&O expiries on Tuesdays and NSE on Thursdays.

The stock came under selling pressure after news reports suggested that the company witnessed a block deal in the morning session, wherein 7.2 crore shares, or 1.71% equity, worth ₹3,323 crore changed hands at ₹460.5 per share.

Earlier news reports said Vedanta Ltd, the promoter entity of Hindustan Zinc (HZL), will sell around a 1.6% stake in the company.

The tender will be for 2,856 air-conditioned Vande Metro coaches for Mumbai suburban rail network, the report added.

"The company made a preferential issue of 12.56 crore warrants aggregating ₹3,014.40 crore in October 2024, in terms of SEBI (ICDR) Regulations. A minimum upfront amount of 25% was paid on the Warrants and the balance 75% amount was payable in 18 months. Fully paid Warrants are convertible into equivalent number of equity shares," the company added.