Market Closing Wrap: Nifty Ends Near 23,400; Sensex Drops 330 Points and IT Sell-Off

The benchmark indices ended lower after a highly fluctuating trading session, with the Nifty closing near 23,400 and the Sensex declining by over 330 points. The IT sector emerged as the biggest laggard, exerting significant pressure on the broader market. Among Nifty constituents, $TCS , $TECHM , $HCLTECH , $INFY , and $WIPRO were the major drags, while $APOLLOHOSP s, $MAXHEALTH , $TRENT , $SBIN , and $ICICIBANK provided support on the upside. On the sectoral front, the IT index tumbled 5%, making it the worst-performing segment. FMCG and Realty indices lost around 1% each, while the Consumer Durables index slipped 0.8%. In contrast, the Telecom index advanced 2%, the PSU Bank index gained 1.8%, and Pharma and Healthcare sectors added 0.5% each. The broader market also witnessed mild weakness, with the Nifty Midcap 100 Index declining 0.4% and the Nifty Smallcap 100 Index edging lower by 0.1%. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.