Sensex snaps 3-day gain, Nifty holds 25,900 amid IT selloff

On Wednesday, Indian benchmark indices ended mostly flat, with the BSE Sensex slipping 40 points to 84,234, breaking a three-day rally, while the Nifty 50 inched up 19 points to close at 25,954. This decline was primarily driven by a significant selloff in the IT sector, where major players like TCS, Persistent, and Infosys faced declines of up to 3%. Market experts noted that while volatility was contained and domestic institutional buying provided support, the lack of decisive positive triggers limited any substantial market movement. Mixed sectoral performance was observed, with gains in banking, auto, and healthcare stocks contrasting the downturn in IT. Global markets also showed signs of caution, with European equities dipping as investors reacted to new corporate earnings data. Oil prices rose due to geopolitical tensions and signs of increasing demand from India. The Indian rupee saw a slight decline against the dollar, closing 0.1% lower, reflecting broader economic sentiments amid fluctuating global indices.