Sensex, Nifty50 end four-session rise with 0.13% dip as Trent sinks 12.42% despite IT rally
AI Market Summary
Indian equities snapped a four-session rally as broad profit booking—catalyzed by a sharp Trent selloff after a weak quarterly update—offset a strong rebound in IT ahead of earnings. The rupee strengthened on short covering, while broader indices and cyclicals were soft, signaling cautious positioning. Markets are focused on upcoming Fed minutes and the start of the June-quarter results season, which may raise near-term volatility.
Impact level
● Medium
AI InsightAI Insight
● Neutral
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India’s benchmark Sensex and Nifty50 slipped 0.13% on Tuesday, ending a four-session winning streak as profit-taking spread after Trent’s weaker-than-expected June-quarter business update sent the stock down 12.42%. Information technology shares outperformed, with the IT index up 2.43% and HCLTech, Tech Mahindra and Infosys each rising more than 2.8%, limiting the downside. Investors stayed cautious ahead of the release of the U.S. Federal Reserve’s meeting minutes and the start of the Q1 earnings season.
