IT rebound lifts benchmarks; metals and oil & gas weigh
Indian equity markets ended marginally higher after recovering from early weakness, supported by a sharp rebound in IT stocks and strength in PSU banks.
The BSE Sensex rose 174 points (0.21%), to close at 83,451, while the Nifty 50 gained 43 points (0.17%), settling above the 25,700 mark at 25,725.
The Indian rupee was largely unchanged, trading near 90.68 per US dollar in late afternoon trade, compared with 90.65 in the previous session.
PSU banking stocks outperformed, with the PSU Bank index rising over 2%, contributing meaningfully to the benchmark recovery.
IT stocks rebound on AI partnership optimism
The IT sector led gains after Infosys announced a strategic partnership with Anthropic, easing concerns around AI-led disruption.
- Infosys rose around 4%
- The Nifty IT index gained about 3%, moving to 33,612
- HCL Technologies, Wipro and Persistent Systems advanced close to 2-3% each
- TCS, Tech Mahindra and Mphasis gained over 1%
The recovery follows a sharp recent correction, with positive sentiment emerging around AI collaborations in regulated and enterprise-focused segments.
Metals under pressure
Metal stocks remained weak amid declines in base metal prices.
- The Nifty Metal index fell around 1% to 11,8284
- Hindustan Copper declined over 4% to ₹551.25
- MCX copper futures (February expiry) dropped close to 3%, adding pressure on metal stocks
Oil & Gas stocks also traded lower, while the broader metals space saw continued selling.
Stock-specific action
- Newgen Software Technologies surged 12.26% to ₹519.50, snapping a four-day losing streak and marking its biggest gain in about 16 weeks.
- Sterling and Wilson Renewable Energy climbed 8.53% to ₹219.40, its strongest move in nearly 22 months.
- Cochin Shipyard gained around 7%, following reports of a ₹5,000-crore boost linked to Indian Navy orders.
Broader market performance
The broader market mirrored the positive tone:
- Nifty Midcap 100 ended up around 0.56%
- Nifty Smallcap 100 gained about 0.27%
Commodities update
Precious metals declined during the session:
- 24-carat gold fell to ₹1,53,150 per 10 grams, down 1.16% from the previous close
- Silver slipped to ₹233.86 per gram, a decline of 2.89%
Market takeaway
Today’s session reflected selective risk-taking. Strength in IT and PSU banks helped benchmarks recover, while continued weakness in metals and oil & gas capped broader upside. With AI-related developments influencing both optimism and volatility, markets remain sector-driven.
Other Major Headlines
- Adani Group announced plans to invest $100 billion in AI data centres by 2035, highlighting growing long-term capital allocation toward AI infrastructure.
- India indicated that trade discussions with the US and EU could open up a $400 billion agriculture market, providing a supportive medium-term export outlook.
Source: Financial Express, Economic Times, Moneycontrol, Perplexity FinanceDisclaimer: This content is provided for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities or financial products. Market views and data are based on publicly available information and are subject to change without notice. Investments in the securities market are subject to market risks. Readers are advised to consult a qualified financial advisor before making any investment decisions.
