Indian equity benchmarks staged a strong comeback on Tuesday, snapping a four-session losing streak as the BSE Sensex closed 383 points higher and the NSE Nifty ended above the 23,450 mark.
IT stocks emerged as the biggest gainers of the day. HCL Technologies, Tech Mahindra, Infosys and Wipro witnessed strong buying interest as investors remained optimistic about demand for artificial intelligence-related services and a gradual improvement in global technology spending. The Nifty IT index surged nearly 4%, making it the best-performing sectoral index.
Despite the broader market recovery, some sectors remained under pressure. Pharmaceutical stocks such as Sun Pharma, Dr Reddy’s Laboratories and Cipla were among the top losers. Reliance Industries, Indraprastha Gas and Bharat Petroleum Corporation also ended lower, weighing on the oil and gas segment.
Investors continued to track developments related to US-Iran negotiations and the broader geopolitical situation in West Asia. Elevated crude oil prices remain a concern for markets because of their potential impact on inflation and India’s import bill. However, hopes of diplomatic progress helped improve risk appetite during the session.
Foreign investors remained net sellers, though domestic institutional buying provided support to the market. Analysts said the sharp rebound from intraday lows indicates resilience in investor sentiment despite global uncertainties.
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