Indian benchmark indices staged a strong recovery on Tuesday. The BSE Sensex and NSE Nifty opened on a weak note, tracking profit booking and mixed global cues. The indices slipped in early trade, with the Nifty briefly moving below the 25,700 level and the Sensex falling over 100 points. However, a steady recovery in technology stocks during the second half of the session trimmed the losses and pushed the benchmarks into a narrow range by the close.
IT majors Infosys, TCS and HCLTech were among the top gainers on the Nifty. The sector saw value buying after last week’s sharp correction, and sentiment improved following deal-related optimism in the artificial intelligence space. The Nifty IT index ended as the top sectoral performer.
In contrast, index heavyweight Reliance Industries declined and capped the upside. Financial stocks also remained under pressure, with ICICI Bank and HDFC Bank among the key laggards. Weakness in metal stocks, including Tata Steel, further weighed on the market.
In the broader market, mid-cap and small-cap indices outperformed the benchmarks, indicating continued stock-specific buying. Defence-linked Cochin Shipyard surged after emerging as the lowest bidder for a major contract, boosting sentiment in capital goods stocks.
Shares of newly listed AI-focused Fractal Analytics saw a muted trend after a weak debut, reflecting valuation concerns despite strong interest in the artificial intelligence theme.
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