Indian Shares Snap Two-day Losses; IT Stocks Extend Declines

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Summary · why it matters

Indian shares rose notably on Wednesday after two straight sessions of losses, with the BSE Sensex gaining 443.97 points to 76,922.64 and the NSE Nifty index adding 140.10 points to 24,005.85. Sentiment was supported by a continued fall in oil prices and robust June sales from domestic auto manufacturers. Brent crude futures traded below $72 a barrel amid optimism over a supply recovery in the Middle East. Auto stocks were in focus, with Mahindra & Mahindra climbing 1.9 percent after a 37 percent year-on-year jump in June sales and Maruti Suzuki India adding 1.7 percent after a 23.8 percent rise. IT stocks extended recent losses, with Infosys, TCS, Tech Mahindra and HCL Technologies falling 2 to 3 percent on sector growth concerns.

Impact on assets 3

Electrification & Mobility▲
Information Technology▲
Others▼

Off-coverage companies 2

Maruti Suzuki Indiai
Private▲ PositiveDemandrelevance

23.8% rise in June sales

Tech Mahindra Limitedi
Private▼ NegativeDemandrelevance

IT stocks extend losses on sector growth concerns