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Several companies, including Infosys, Wipro, and HCL Technologies, are seeing declines on the Nifty index, while IndusInd Bank, Tata Motors, and Bajaj Finance are notable gainers. The BSE Midcap index is down 0.8%, and the smallcap index has dropped 0.5%. The auto index has risen by 0.5%, but IT, realty, telecom, and media sectors have fallen by 1-3%.
On Wednesday, India’s Sensex and Nifty remained stable, with gains from Reliance Industries and Bharti Airtel offsetting IT sector losses. The Nifty IT index fell by 4%, with Infosys shares down 3% after a Morgan Stanley downgrade. In contrast, Bharti Airtel shares rose 3% due to a partnership with SpaceX. The government plans to divest 2-3% of its LIC stake to reach a 10% public shareholding by 2027. The rupee has depreciated by 7 paise to 87.28 against the US dollar.
Globally, S&P 500 and Nasdaq 100 futures are up 0.3%, while the MSCI Asia Pacific Index has increased by 0.1%. Japan’s Topix gained 0.9%, Hong Kong’s Hang Seng fell 0.4%, and the Shanghai Composite remained stable. Euro Stoxx 50 futures rose by 1.1%.
(Newsroom staff only edited this story for style from a syndicated feed)
