Sensex, Nifty end higher amid volatile trade; Infosys falls over 7%
The S&P BSE Sensex closed 78.56 points higher at 83,817.69, while the NSE Nifty50 added 48.45 points to settle at 25,776. Most broader market indices also finished positive, even as intraday volatility spiked.
Benchmark stock market indices ended a rather volatile trading session on a positive note, but a steep fall in information technology (IT) stocks kept the mood on Dalal Street tense.
The S&P BSE Sensex was up 78.56 points to 83,817.69 at the closing bell, while the NSE Nifty50 settled 48.45 points higher at 25,776.
Most of the broader market indices ended in the positive territory even as volatility jumped during the session. Among sectoral indices, Nifty IT to a big hit as it ended nearly 6% lower.
IT stocks such as Infosys, TCS, HCLTech, Tech Mahindra and Wipro were the top losers on the Nifty50. This was triggered by the massive sell-off in US IT stocks.
On the other hand, the top gainers were Trent, Eternal, ONGC, NTPC and Adani Ports.
Vinod Nair, Head of Research, Geojit Investments Limited, ”Domestic equities witnessed a volatile session, swinging between gains and losses as rising US–Iran tensions kept investors on edge.”
Midcap and smallcap stocks outperformed large-caps as value buying emerged following a recent correction, he explained.
“However, overall upside remained limited due to weakness in IT stocks amid concerns over reduced demand for traditional outsourcing following Anthropic’s introduction of new AIdriven automation tools,” Nair said.
“Going forward, market sentiment will largely be guided by the upcoming RBI policy decision and greater clarity on the newly announced US–India trade agreement,” he added.
Benchmark stock market indices ended a rather volatile trading session on a positive note, but a steep fall in information technology (IT) stocks kept the mood on Dalal Street tense.
The S&P BSE Sensex was up 78.56 points to 83,817.69 at the closing bell, while the NSE Nifty50 settled 48.45 points higher at 25,776.
Most of the broader market indices ended in the positive territory even as volatility jumped during the session. Among sectoral indices, Nifty IT to a big hit as it ended nearly 6% lower.
IT stocks such as Infosys, TCS, HCLTech, Tech Mahindra and Wipro were the top losers on the Nifty50. This was triggered by the massive sell-off in US IT stocks.
On the other hand, the top gainers were Trent, Eternal, ONGC, NTPC and Adani Ports.
Vinod Nair, Head of Research, Geojit Investments Limited, ”Domestic equities witnessed a volatile session, swinging between gains and losses as rising US–Iran tensions kept investors on edge.”
Midcap and smallcap stocks outperformed large-caps as value buying emerged following a recent correction, he explained.
“However, overall upside remained limited due to weakness in IT stocks amid concerns over reduced demand for traditional outsourcing following Anthropic’s introduction of new AIdriven automation tools,” Nair said.
“Going forward, market sentiment will largely be guided by the upcoming RBI policy decision and greater clarity on the newly announced US–India trade agreement,” he added.