Markets Edge Up as IT, Banking Stocks Shine Amid Global Jitters
- Sensex and Nifty ended higher after a volatile session, driven by buying in IT and banking stocks.
- Mixed global cues and the upcoming US tariff deadline kept investors in a wait-and-watch mode.
- Nifty IT, Bank Nifty, and Financial Services posted gains, while mid- and small-cap stocks remained largely flat.
After a choppy trading session, Indian equity markets ended in positive territory, buoyed by value buying in IT and banking stocks amid optimism surrounding an interim India-US trade deal. The benchmark BSE Sensex, after plunging to an intra-day low of 83,015, rebounded sharply to close at 83,432.89, gaining 193.42 points or 0.23%. Meanwhile, the NSE Nifty advanced 55.70 points or 0.22% to settle at 25,461.
Analysts attributed the market’s choppy behaviour to mixed global cues and investor caution ahead of a crucial US tariff deadline. “The Indian market is experiencing a pause as investors adopt a wait-and-watch strategy amid global uncertainty”, said Vinod Nair, Head of Research at Geojit Financial Services.
Gains were led by IT heavyweights and private banking counters. Among Sensex constituents, Bajaj Finance, Infosys, Hindustan Unilever, HCL Technologies, UltraTech Cement, Bajaj Finserv, and TCS ended higher. On the flip side, Sun Pharma, ITC, Tata Motors, Asian Paints, Mahindra & Mahindra, and Maruti Suzuki closed in the red. On the Nifty, 31 stocks advanced while 19 declined.
Sectorally, Nifty IT rose by 0.80%, followed by Bank Nifty (up 0.42%) and Nifty Financial Services (up 0.49%). Broader market indices including the Nifty Midcap 100 and Nifty Smallcap 100 closed flat, suggesting a stock-specific approach in the mid- and small-cap segments.
Ajit Mishra, SVP – Research at Religare Broking Ltd., noted that the tone was negative in the first half but a late rebound in index heavyweights helped trim losses. “The index closed near the day’s high, signalling resilience despite volatility”.
Foreign institutional investors (FIIs) continued to pull out funds, reflecting a risk-off sentiment, while domestic institutional investors (DIIs) offered partial support. Analysts believe the market’s upside remains capped due to high valuations and awaits cues from Q1 earnings and trade developments.
