Indian markets traded cautiously amid global uncertainty surrounding the U.S.-China trade situation. While some sectors like pharma and financials saw gains, IT stocks faced pressure due to trade truce concerns. Experts suggest the market may remain range-bound due to a lack of positive triggers and escalating geopolitical tensions, including rising crude oil prices and potential tariff actions.
On Wednesday, HCL Technologies Ltd., Infosys Ltd., Tech Mahindra Ltd., Wipro Ltd. and Cipla Ltd. were the top five gainers. Whereas, Shriram Finance Ltd., Power Grid Corp. of India, Adani Enterprises Ltd., Bharat Electronics Ltd., and Adani Ports and Special Economic Zone Ltd. were among the laggards.
From the Sensex pack, HCL Tech, Infosys, Tech Mahindra, Reliance Industries, Bajaj Finserv, ICICI Bank, Tata Motors and Eternal were the lead gainers.
Power Grid, Adani Ports, IndusInd Bank, Nestle, HDFC Bank and Hindustan Unilever were among the laggards.
Benchmark Sensex closed higher by 123 points while Nifty rose for a sixth consecutive day on Wednesday following a rally in global markets amid optimism over US-China trade talks and foreign fund inflows.
Equity benchmark indices Sensex and Nifty climbed in initial trade on Wednesday following a rally in global markets amid US-China trade talks optimism and foreign fund inflows.
Sensex slipped 53.49 points and Nifty remained flat on Tuesday as profit booking in financials offset optimism from U.S.-China talks and RBI support, with selective buying in IT and pharma.
Among Sensex firms, Asian Paints, Bajaj Finance, Tata Steel, Bajaj Finserv, ICICI Bank, Maruti, Reliance Industries, HDFC Bank and Mahindra & Mahindra declined.
Tech Mahindra, Tata Motors, Infosys, HCL Tech, IndusInd Bank and UltraTech Cement were among the gainers.