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IT Stocks Soar, Indian Markets End Lower
8 Jul
Summary
- Indian equity benchmarks closed marginally lower on Monday.
- IT stocks rallied, while realty, metal, and healthcare shares declined.
- The BSE Sensex fell 0.13% and Nifty 50 dropped 0.13%.
Indian equity markets concluded Monday's trading session with a slight decrease. The BSE Sensex registered a fall of 0.13%, settling at 78,180.72, while the NSE Nifty 50 also dropped by 0.13% to close at 24,398.70. This modest decline occurred as gains in the technology sector were counteracted by losses in realty, metal, and healthcare stocks.
The information technology sector emerged as the top performer, with the Nifty IT index climbing by 2.43%. Major IT companies like HCLTech and Infosys saw significant upward movement. This strong performance in IT helped to cushion the broader market's decline.
Conversely, several other sectors faced selling pressure. The Nifty Realty index saw a decline of 1.58%, and the Nifty Metal index dropped by 1.10%. Broader market indices, including the Nifty Midcap 100 and Nifty Smallcap 100, also closed in negative territory, indicating a mixed sentiment across the market spectrum.
