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IT stocks pull D-Street down; defence index down 2%

  • IT stocks pulled the Indian stock market down with the defence index declining by 2%.
  • BSE Sensex closed 0.41% lower at 83,190.28, and Nifty 50 dropped by 0.47% to 25,355.25. Midcap and smallcap segments limited their corrections.
  • Selling pressure persisted throughout the day, forming a bearish candle on the daily charts. The market breadth was weak with investors turning risk-averse.
  • Other sectors like PSU banks, telecom, pharma, and FMCGs faced selling pressure, offsetting gains in metal and realty stocks. Market may remain choppy unless broader cues provide a decisive break-out.

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