Benchmarks end flat as IT heavyweights drag; SBI jumps over 3%, Nifty holds above 25,950
Indian benchmark indices ended almost flat on Wednesday, with the BSE Sensex slipping 40.28 points, or 0.05 per cent, to close at 84,233.64, as losses in heavyweight IT stocks offset gains in banks and autos.
The index opened at 84,339.15 and rose to an intraday high of 84,487.34 in early trade. However, selling pressure in technology counters pulled it down to a low of 84,081.25 before it pared some losses towards the close. The previous close stood at 84,273.92.
The NSE Nifty 50 outperformed marginally, ending 18.70 points, or 0.07 per cent, higher at 25,953.85. The index moved in a narrow band, touching a high of 26,009.40 and a low of 25,899.80. Market breadth remained slightly negative, with 26 stocks declining, 23 advancing and one unchanged.
IT stocks weigh on benchmarks
Technology majors were the biggest drag on the Sensex. TCS fell 2.46 per cent to ₹2,910.95, Infosys declined 1.85 per cent to ₹1,471, while HCLTech dropped 1.64 per cent and Tech Mahindra lost 0.73 per cent.
The weakness in IT heavyweights capped the gains seen in financials and select consumption names, keeping the headline index under pressure despite a firm start.
Other laggards included HDFC Bank (down 0.65 per cent), Axis Bank (down 0.54 per cent), UltraTech Cement (down 0.53 per cent), Titan (down 0.68 per cent) and ITC (down 0.93 per cent).
SBI, Maruti lend support
State Bank of India was among the top gainers, rising 3.31 per cent to ₹1,182. Maruti Suzuki added 1.79 per cent to ₹15,425.50, while Reliance Industries gained 0.61 per cent.
Bajaj Finance advanced 0.36 per cent, ICICI Bank rose 0.29 per cent and NTPC edged up 0.11 per cent. Bharti Airtel and Larsen & Toubro ended largely flat with marginal gains.
In the broader market, Eicher Motors surged 6.45 per cent to ₹7,766.50, Apollo Hospitals climbed 3.98 per cent and Max Healthcare gained 3.33 per cent, reflecting stock-specific buying interest.
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