Markets mixed as Nifty closes above 22,800 and Sensex slips
Markets had a bit of a mixed Wednesday. Nifty managed to close just above 22,800 thanks to some late buying, but Sensex slipped by 143.21 points to end at 73,709.69.
Sectors like auto, metal, and consumer durables took a hit (down about 2%), mostly because investors were booking profits and worrying about rising oil prices and company earnings.
IT sector leads gains, rupee strengthens
The IT sector was the bright spot, jumping 2.5% with help from big names like Infosys and TCS.
L&T Technology Services soared 10% after strong Q2 results, while Transrail Lighting shares rose 3% on acquiring 49% stake in NOPL Pace Green Energy.
Meanwhile, the rupee quietly strengthened for the eighth session in a row, up by 46 paise against the dollar, which is a small win for investors dealing with all this market volatility.