Mumbai. After the announcement of the trade agreement with America, domestic stock markets witnessed a rise for the second consecutive day on Tuesday, although there was a big decline in companies in the IT sector. BSE Sensex closed at 83,817.69 points, up 78.56 points (0.09 percent). The Nifty-50 index of the National Stock Exchange also rose by 48.45 points or 0.19 percent to reach 25,776 points. This is the highest level of both the indices since January 12.
Meanwhile, there was heavy pressure in IT companies due to which major indices fell in the morning and at one point the Sensex fell by more than 600 points. Shares of Indian IT companies listed in the US stock markets closed with a decline on Monday. It is being told that these companies came under pressure after the news of the development of an AI tool which can review documents and analyze data.
Most of the companies currently outsource this work to Indian companies. Its effect was visible as soon as the market opened today. IT companies had the biggest decline in Sensex. Infosys shares fell more than seven percent. TCS also declined by about seven percent. Shares of HCL Technologies and Tech Mahindra fell more than four percent. Eternal’s stock rose more than five percent in the sensitive index of thirty companies.
Trent’s shares rose nearly five percent. NTPC, Adani Ports and Power Grid had a rise of two to two and a half percent. Shares of Maruti Suzuki, Titan, UltraTech Cement, Bharti Airtel, ICICI Bank, Reliance Industries, Mahindra & Mahindra, L&T, Tata Steel, ITC and Asian Paints closed with gains of one to two percent. Shares of HDFC Bank, State Bank of India and Bajaj Finserv also remained in the green.
Axis Bank shares fell more than one percent. Kotak Mahindra Bank also closed in the decline. There was more growth in medium and small companies. Nifty Midcap-50 index closed up 0.65 percent and Smallcap-100 index closed up 1.27 percent. The Nifty IT index fell nearly six percent. There was also a decline in pharma and health sectors. Indices of consumer durable products, oil and gas, auto, metals, reality, media, banking and chemicals sectors remained on the rise.
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