Sensex, Nifty barely move on Wednesday
After a huge rally on Tuesday, the Sensex and Nifty barely moved on Wednesday—closing just above their previous marks.
This pause came even as excitement from the India-US trade deal lingered in the air.
IT stocks take a hit
IT stocks took a hard hit, with the Nifty IT index dropping 6%—its biggest single-day fall since April 4, 2025.
Concerns that AI tools could hurt software companies' businesses, profitability and demand for traditional outsourcing and weak signals from US markets spooked investors.
Big names like Infosys, TCS, and Wipro all felt the pain.
Midcap, smallcap stocks gain
While tech struggled, midcap and smallcap stocks actually did well, rising up to 1.2%.
Sectors like auto, energy, and metals also saw gains.
The India-US trade deal helped calm nerves by reducing tariff-related uncertainty—over 80 stocks even hit new highs despite some turbulence elsewhere.