Indian Markets Rebound Led by IT

The S&P BSE Sensex>>> and NIFTY 50>>> rebounded on Tuesday, snapping a four-day losing streak, primarily driven by a strong rally in IT shares. The S&P BSE Sensex>>> climbed 382.50 points (0.52%) to settle at 74,649.84, while the NIFTY 50>>> rose by 100.95 points (0.43%) to 23,483.55. Key IT firms like Tata Consultancy Services>>>, Infosys>>>, HCLTech>>>, and Mahindra & Mahindra>>> saw significant gains, fueled by strong earnings and guidance from major United States>>> technology companies. Other gainers included Adani Ports & Special Economic Zone>>>, Titan Company>>>, HDFC Bank>>>, and Mahindra & Mahindra>>>. Conversely, ITC Limited>>>, Axis Bank>>>, Power Grid Corporation of India>>>, and ICICI Bank>>> were among the laggards. Global sentiment remained stable despite delays in a Middle East truce, and Brent Crude>>> declined. Asian markets in South Korea>>>, China — Shanghai>>>, and China — Hong Kong>>> ended higher, while Japan>>>'s Nikkei 225 settled lower. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,911.68 crore on Monday.