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Indian electrical equipment stocks rebounded, gaining up to 6% after global brokerage Nomura labelled the recent sell-off an “overreaction.” Nomura highlighted that Chinese firms, granted a two-year tender exemption, historically secured minimal market share. They also noted capacity constraints among these firms, suggesting the exemption is a temporary measure, not a policy shift, thus limiting…

The Nifty tumbled below the 24,300 level, while sentiment remained subdued amid a lack of strong directional cues. Investors continued to monitor movements in crude oil prices and developments on the global geopolitical front for further indications on the market’s near-term trajectory.