Sensex, Nifty open lower as market sentiment remain cautious over IT selloff
India Today
The S&P BSE Sensex was down by 47.79 points to 82,578.97, while the NSE Nifty50 lost 7.45 points to 25,464.75 as of 9:48 am.
Benchmark stock market indices opened lower on Monday, as financial services shares fell in early trade, reacting to latest RBI rules for bank lending to stock brokers.
The S&P BSE Sensex was down by 47.79 points to 82,578.97, while the NSE Nifty50 lost 7.45 points to 25,464.75 as of 9:48 am.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, sad that the IT sell-off last week will continue to weigh on markets in the near-term.
"The mild recovery in IT ADRs on Friday is unlikely to support IT stocks. Institutions are likely to continue selling IT stocks and switch to sectors like financials, automobiles, capital goods, telecom and pharma where there is good earnings growth visibility. Brent crude is delicately balanced at around $68 on the concerns surrounding the geopolitical tensions between US and Iran. This has to be closely watched," he added.
After the opening bell, Kalyan Jewellers India Ltd led the Sensex gainers, rising 4.65%. It was followed by Power Grid Corporation of India Ltd, which gained 2.96%. HDFC Bank Ltd moved up 1.89%, while Eternal Ltd added 1.38%. NTPC Ltd also opened higher, rising 1.32%.
Infosys Ltd saw the sharpest fall, dropping 1.61%. Tech Mahindra Ltd declined 1.38%, Maruti Suzuki India Ltd slipped 0.98%, State Bank of India Ltd was down 0.89%, and Adani Ports and Special Economic Zone Ltd fell 0.76%.
For many borrowers under 40, applying for a home loan online is no longer optional, it is the preferred way. Around 72% of borrowers in this age group choose digital applications, and nearly half of borrowers above 60 are also getting comfortable with online processes.
The main trigger for the rally was Infosys announcing a strategic partnership with artificial intelligence firm Anthropic. Investors reacted positively to the news, pushing Infosys shares nearly 3% higher to around Rs 1,407 during the session.
Speaking on the development, Commerce Secretary Rajesh Agrawal said a joint statement outlining the contours of the agreement has already been signed. He said that these contours now need to be converted into a formal legal agreement.
The S&P BSE Sensex rallied 650.39 points to close at 83,277.15, while the NSE Nifty50 added 211.65 points to end at 25,682.75.
The S&P BSE Sensex was down by 47.79 points to 82,578.97, while the NSE Nifty50 lost 7.45 points to 25,464.75 as of 9:48 am.
Describing the Budget for the fiscal year starting April 1 as reflective of his governance approach, PM Modi said the document is a good reflection of our governance style and priorities.
You've heard the advice, i.e., "Start a SIP immediately." But is that the smartest first move with Rs 5,000? The choice might surprise you.
The next market shift may not come from earnings or interest rates. It may come from AI. In this article, we explore how it could reshape your stock and mutual fund investments.
The DGCA has imposed a fine of about Rs 1 crore on Air India for flying an Airbus aircraft eight times without a valid airworthiness permit. The aviation watchdog also said the lapse further eroded public trust in the airline.
The journey of hyper-personalisation in personal loans is going to get more exciting for customers with the increasing adoption of technology refining customer offerings, based on minute details of the customers.
Reliance wins US licence for Venezuelan oil as India wavers on Russia supply
After a stunning rally and an equally sharp fall, silver now sits at a crucial crossroads, leaving investors wondering whether this correction is nearing its end or still gathering momentum.
The data, released by the Ministry of Statistics and Programme Implementation, reflects a major statistical overhaul aimed at making India's inflation measure more representative of current consumption patterns.