By Admin 
Stock Market News: Despite the sharp decline in the big companies of the IT sector, the domestic stock market closed with a slight gain on Wednesday. BSE’s 30-share Sensex closed at 83,817.69 points, up 78.56 points, or 0.09 percent, while NSE’s Nifty closed at 25,776 points, up 48.45 points, or 0.19 percent. During trading, the Sensex reached a high of 83,947.53, while it also touched a low of 83,119.95, due to which a fluctuation of about 828 points was seen throughout the day.
The market sentiment was affected by the weakness of the rupee against the US dollar and the rise in crude oil prices. Despite this, the index managed to close with a slight gain due to buying in selected shares. Among the Sensex companies, Eternal, Trent, NTPC, Adani Ports, Power Grid and Maruti Suzuki were the major gainers.
Heavy selling in IT shares
On the other hand, heavy selling was seen in the IT sector. Shares of Infosys, Tata Consultancy Services (TCS), HCL Tech and Tech Mahindra closed with losses, registering a decline of up to seven percent. Due to sharp decline in major IT companies, BSE IT index fell 5.49 percent and closed at 35,109.51 points.
Ponmudi R, CEO of Enrich Money. According to , strength was seen in oil and gas, consumer durables, metals and auto stocks, while IT stocks remained under pressure due to weakness in global tech stocks. He said the launch of a new tool by AI startup Anthropic to automate the entire process has raised concerns that rapid progress in artificial intelligence could impact traditional software business models.
Investors alert due to US-Iran tension
Talking about investor activities, on Tuesday, foreign institutional investors (FIIs) bought shares worth Rs 5,236.28 crore, while domestic institutional investors (DIIs) invested Rs 1,014.24 crore. In Asian markets, South Korea’s Kospi, China’s Shanghai Composite and Hong Kong’s Hang Seng were in the lead, while Japan’s Nikkei closed with a decline. European markets were seen in a mixed mood in afternoon trading.
On the global front, American markets closed with a decline on Tuesday. In the international market, Brent crude rose by 0.36 percent to reach $ 67.57 per barrel. According to Vinod Nair, Head of Research, Geojit Investments Limited, due to increasing tension between America and Iran, investors are adopting a cautious attitude, due to which there is volatility in the market.
Also read: Fear of AI? Shares of TSS and Infosys fell amid heavy global selloff in tech stocks.
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