Auto and Metal Lead a Cautious Bounce, IT Feels the Fed Heat

Markets opened on a shaky note today, with the Sensex initially slipping about 96 points before clawing back into positive territory, trading up around 65 points at 74,401 and the Nifty gaining roughly 35 points to 23,252 in early trade. The hesitant start reflects global unease after the US Federal Reserve delivered its first rate hike since 2023, a move that's kept IT stocks under pressure and made the overall tone cautious rather than confident. Bharat Electronics (BEL) stands out as the stock most likely to perform well today. It's currently the top gainer on both the Sensex and Nifty, continuing to attract buying interest, a sharp turnaround from its recent slide, suggesting the earlier profit-booking phase may be running its course.

and Eternal are also showing strength, rounding out the top gainers list and pointing to renewed interest in financials and consumption-linked names. IT is the weak spot again. Nifty IT is down around 0.3% as the sector bears the brunt of the Fed's hawkish surprise, higher US rates typically pressure IT valuations and raise concerns about US client spending. Auto and Metal are leading sector-wise, a sign that domestic cyclicals are holding up better than export-driven and rate-sensitive plays today.