Nestle, Hindustan Zinc, Marico, Jindal Steel and Pidilite bounce back from 200 EMA levels; check full list

NIFTY50 index staged a smart recovery on Wednesday after a sharp fall on Tuesday. The gains were primarily led by index heavyweights like Reliance Industries (+1.2%), Axis Bank (+1.9%), SBI (+1.4%), M&M (+1.9%), and ITC (+1.9%). However, other index heavyweights like Infosys (-1.2%), TCS (-1.6%), and LT (-0.4%) were among the key draggers on Wednesday.

The index breadth tilted towards advances as 34 stocks traded in the green and 16 others traded in the red. Meanwhile, the broader market indices underperformed the NIFTY 50 as NIFTY Midcap 100 and Smallcap 100 traded -0.2% and -0.4% on Wednesday afternoon, contrary to their current trend.

The Indian benchmark indices extended their previous week’s fall on Tuesday, ending over 1% lower amid elevated crude oil prices and renewed hostilities in the region. However, despite the volatility, few stocks have shown strong confidence and renewed investor interest after Tuesday’s fall.

Nestle India

Shares of Nestle India, one of India’s leading FMCG players, jumped over 2% on Wednesday morning, as investors turned their attention towards defensive bets in the highly volatile environment. The shares bounced back from the 200 EMA support of ₹1,367 to hit an intraday high of ₹1,397 apiece on the NSE, recouping all the losses made on Tuesday.

Hindustan Zinc

Shares of leading metals and mining player, Hindustan Zinc, surged almost 2% on Wednesday as investors hunt for bargain opportunities after the recent fall. The shares made an intraday high of ₹572 apiece, taking support from the 200 EMA level of ₹556 apiece on the NSE. On a YTD basis, shares are trading in the red at -6% loss for 2026. However, the shares have delivered over 23% returns in the past twelve months.

Pidilite Industries

Pidilite Industries share price jumped 1% on Wednesday afternoon, following a steep correction on Tuesday. The shares now bounced back above the 200 EMA level of ₹1,533 apiece on the NSE, recouping partial losses of Tuesday. For 2026, the shares have largely remained stable, delivering just 5% returns on a YTD basis.

Marico Ltd

Shares of Marico Ltd jumped the most amongst the FMCG pack on Wednesday afternoon amid a buoyant outlook for FMCG stocks. Marico shares surged over 3.3%, hitting ₹819 apiece on the NSE. The shares also took support at the 200 EMA level of ₹799 apiece on Wednesday, recouping all the losses of Tuesday.

Jindal Steel

Shares of Jindal Steel soared nearly 2% on Wednesday, recouping the majority of the losses made on Tuesday as investor turned their attention towards defensive bets in the metals and mining sector. The shares bounced back above the 200 EMA level of ₹1112 apiece on the NSE. The shares have delivered modest returns of 4.3% in 2026 on a YTD basis.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial adviser before making any investment decisions.