Indian equity benchmarks struggled to extend Tuesday’s strong recovery, with the Sensex hovering around 73,023 and the Nifty 50 near 22,700 at approximately 10:10 am on Wednesday. Mixed performance across sectors kept the headline indices subdued, although advances outnumbered declines on the NSE.
Which stocks are gaining and losing today?
IT stocks continued their recovery, with TCS, Infosys and HCLTech rising around 2% each. Kotak Mahindra Bank, UltraTech Cement, Hindustan Unilever and BEL also recorded gains.
On the other hand, Bajaj Finance, Sun Pharma, Bajaj Finserv, Larsen & Toubro, Adani Ports, M&M, ICICI Bank and SBI were among the stocks trading lower.
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The Nifty IT gained more than 1%, while the Nifty Pharma fell over 1%. On the NSE, 2,041 stocks advanced, 1,089 declined and 85 remained unchanged.
Why did the stock market rally in the previous session?
Tuesday’s 358-point jump in the Nifty surprised investors amid an otherwise weak market trend. According to V K Vijayakumar, chief investment strategist at Geojit Investments, short-covering contributed to the sharp rebound.
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