IndusInd Bank, Kotak Mahindra Bank, Tata Motors, HDFC Bank, and Sun Pharma were among the top gainers of the Nifty 50, while IT stocks faced significant sell-offs due to concerns about the US economy’s growth. Leading the gainers were IndusInd Bank, which saw a 3.78% increase to ₹680.75 after five consecutive trading sessions of losses, followed by Kotak Mahindra Bank with a 2.38% increase to ₹1,981.35. Tata Motors rose by 1.78% to ₹659.6 following positive remarks on JLR’s profit margin, while HDFC Bank gained 1.56% to ₹1,711.85 and Sun Pharma rose by 1.02% to ₹1,672.15.
On the other hand, IT majors like Infosys saw a 5.70% decline to ₹1,566.95, Wipro followed with a 5.04% decline to ₹263.75, and Tech Mahindra saw a 4.50% decrease to ₹412.7. Adani Enterprises declined by 2.95% to ₹2,184.1, and HCL Tech dropped by 2.75% to ₹1,524.7. Bharti Airtel shares, which initially gained following a deal with SpaceX, slipped by 0.79% to ₹1,649.80.
The broader index faced heavy volatility, with the Sensex depreciating by 393.86 points or 0.53% to 73,708.46 and the Nifty 50 falling by 132.55 points or 0.59% to 22,365.35. Among the Sensex pack, SEPC shares rallied by 17.38%, while Redtape followed with a 9.07% gain. On the downside, Ramco Cements and PB Fintech declined by 7%.
Overall, the market witnessed a mix of gains and losses, with some sectors performing better than others. The heavy sell-off in IT stocks weighed down the market, while certain banking and pharmaceutical stocks managed to recover and push the market higher.
Published on March 12, 2025
