Indian equity benchmarks struggled for direction in early trade on Thursday, snapping a three-session losing run, as gains in financial and information technology stocks offset losses across most other sectors. The Nifty 50 edged up 0.05% to 25,829, while the BSE Sensex was flat at 84,567.1 as of 10:30 a.m. IST. Ten of the 16 major sectoral indices were trading lower, while broader mid-cap and small-cap indices remained largely unchanged.
Market participants cited a lack of major triggers and lingering uncertainty over a potential U.S.-India trade deal as key reasons for the muted movement. Analysts said benchmark indices could remain range-bound over the next few weeks amid concerns about foreign capital outflows and the rupee’s slide to record lows. The Nifty and Sensex have fallen around 0.9% over the past three sessions, though foreign investors turned net buyers on Wednesday after eight straight sessions of selling.
Among individual stocks, Tata Consultancy Services rose 0.7% after outlining plans to become the world’s largest AI-led technology services firm, lifting the Nifty IT index by 0.4%. HDFC Asset Management Company and Nippon Life India Asset Management jumped about 5% each after the regulator eased mutual fund fee rules. Tata Motors gained 2.1% following a positive brokerage initiation, while Hero MotoCorp slipped 2.7% after a downgrade. Global cues were mixed, with Wall Street’s main indices ending lower overnight.
Pic Courtesy: google/ images are subject to copyright
