ET Market Watch: Sensex, Nifty edge up, IT stocks rally as trade talks fuel optimism
Transcript
Hi, you're listening to ET Markets Radio, I am your host, Neha Vashishth. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it:
Sensex and Nifty closed higher, led by IT and oil & gas stocks. Sensex rose 123 pts, Nifty closed above 25,140. This was mainly due to:
Positive cues from Asia
Progress in U.S.-India-China trade talks
Risk-on mood lifted tech stocks
IT stocks rally for the 6th straight session
Infosys, Tech Mahindra, Wipro, HCL Tech gained up to 3.2%
Reliance and Bajaj Finserv also ended in the green
Financials weigh on gains
Nifty Bank & Financial Services indices slipped 0.3% amid profit booking after the RBI-driven rally
BSE Ltd. shares fell 4%. NSE placed the stock under ASM framework — 100% margin requirement spooked investors
Liquor stocks tumble
Radico Khaitan dropped 3.8%, United Spirits sank 6.6% after Maharashtra raised excise duties
Broader markets snap their winning streaks
Smallcap & Midcap indices fell around 0.5%
Global Markets
US-China negotiators announced a trade framework, but Wall Street remained cautious.
S&P 500 and Nasdaq futures dipped 0.2% in the last session
The MSCI Asia ex-Japan index rose 0.6%
What's next?
Markets looked ahead to US inflation data due Thursday.
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