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Indian Markets Pare Gains After Strong Start as Fed Rate Cut Boosts IT Stocks
Indian Markets Pare Gains After Strong Start as Fed Rate Cut Boosts IT Stocks
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BTCCSquare news:
Indian equities relinquished early gains despite a dovish signal from the Federal Reserve, with the Sensex oscillating NEAR session lows at 82,852.37. The 25-basis-point US rate cut provided asymmetric sectoral support—Infosys and Wipro led advancing IT stocks given their dollar-denominated revenues, while PSU banks witnessed profit-booking.
Nifty IT's 0.76% climb contrasted with underperformance in oil & gas and realty sectors. Market breadth turned cautious as midcaps dipped 0.16%, reflecting lingering uncertainty around US-India trade negotiations. The Fed's policy MOVE appears priced in, with indices retreating from intraday highs above 83,100 on the Sensex.
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