Indian benchmark indices closed marginally lower on Wednesday following a volatile trading session, with the IT sector weighing down market performance while banking and auto stocks offered some support. The Sensex ended at 74,029.76, down by 72.56 points or 0.10%, while the Nifty 50 slipped 27.40 points or 0.12% to close at 22,470.50.
The markets opened positively but faced selling pressure in the first half of the session before bouncing back later in the day. The initial decline was attributed to negative global cues, particularly concerns over U.S. trade policies after President Trump hinted at potentially increasing tariffs on Canadian steel and aluminum.
Top gainers of the day included IndusInd Bank, which surged 4.38% to ₹684.70, and Tata Motors, which gained 3.18% to ₹668.45, driven by strong buying interest in the banking and auto sectors, respectively. Kotak Mahindra Bank added 2.45% to close at ₹1,982.40, while Bajaj Finance climbed 1.77% to ₹8,490.05. HDFC Bank rounded off the top five gainers, rising 1.60% to ₹1,711.85.
On the flip side, the IT sector experienced significant selling pressure, with Infosys leading the losses by dropping 4.28% to ₹1,589.60. Tech Mahindra declined 2.80% to ₹1,437.80, while Nestlé India lost 2.43% to close at ₹2,196.50. TCS fell 1.99% to ₹3,503.60, and HCL Technologies slipped 1.91% to ₹1,538.20, completing the list of top losers.
The market movements reflected sectoral divergence, with banking and auto stocks offsetting losses in the IT sector. Analysts anticipate ongoing market volatility amid global uncertainties.
The article was originally published on March 12, 2025.
