neutral
Recently
IT stocks cushion broader market decline
IT stocks gained sharply after Infosys earnings, partially offsetting losses in realty and media sectors as broader markets closed lower.
Benchmark indices closed lower with Nifty ending below 25,600 as selling pressure persisted in realty and media stocks. IT shares outperformed after Infosys reported a better than expected Q3 performance, with the stock rising over 6%. Positive management commentary supported the sector, while weak global cues and profit booking in cyclicals continued to cap overall market recovery through the trading session.