Equity benchmark indices Sensex and Nifty bounced back and pared all of their losses to end the session in the green as investors rushed to buy blue-chip IT stocks at lower levels. After a volatile trading session, the Nifty finally closed above 22,700. The BSE Sensex gained 185.23 points, or 0.25 per cent, to close at 73,319.55, while the Nifty rose 33.70 points, or 0.15 per cent, to 22,713.10. The market witnessed a broad-based rally. A total of 2,548 stocks advanced, 1,505 declined, and 147 remained unchanged.
“The early weakness was largely driven by persistent concerns around elevated crude oil prices and ongoing geopolitical uncertainty. However, the recovery suggests that markets are attempting to find a near-term base, supported by tactical buying rather than strong directional conviction,” said Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
IT stocks top gainers
Mid-cap and small-cap stocks were weak. The Nifty Midcap index closed down 0.3 per cent, and the Smallcap index fell 0.4 per cent. Sectorally, the IT sector saw the highest gain of 2.6 per cent. The Realty index gained 1 per cent. Meanwhile, auto, PSU banks, oil and gas, pharma, and consumer durables sectors declined by about 1 per cent each.
HCL Technologies, Tech Mahindra, Infosys, Tata Consultancy Services, HDFC Bank, Bajaj Finance, Maruti Suzuki India, Titan, Axis Bank, Bharat Electronics Ltd, Kotak Mahindra Bank and ITC were the major gainers among Sensex shares.
On the other hand, Asian Paints, Eternal, Sun Pharmaceuticals, NTPC, Reliance Industries, PowerGrid, Mahindra & Mahindra, UltraTech Cement, Adani Ports, Bajaj Finserv and Tata Steel were the only laggards.
Crude oil surges 7%
Crude oil spiked more than 7 per cent after Trump’s speech. Brent crude, the global oil benchmark, traded 7.28 per cent higher at USD 108.52 per barrel.
Asian markets ended broadly lower, with South Korea’s Kospi declining 4.47 per cent, Japan’s Nikkei 225 falling 2.40 per cent, Shanghai’s SSE Composite slipping 0.74 per cent, and Hong Kong’s Hang Seng losing 0.70 per cent.
European markets were also trading lower, with Germany’s DAX declining 1.71 per cent, Paris’ CAC 40 falling 0.98 per cent, and London’s FTSE 100 slipping 0.12 per cent.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
