IT pullback puts brakes on India's stock rally

Orient Cement

23/12/2025 06:25

India's equity benchmarks Nifty 50 .NSEI and Sensex .BSESN trade flat, pausing after a two-session rally, as a pullback in information technology stocks offsets broader gains

** Ten of the 16 major sectors advance; the broader small-caps .NIFSMCP100 rise 0.3%, mid-caps .NIFMDCP100 trade flat

** IT index .NIFTYIT drops about 1% after gaining 3.7% in the last four sessions from rupee weakness and rising hopes of further rate easing in 2026 in the U.S., a key source of revenue for the sector

     ** Overall sentiment remains cautiously constructive with markets awaiting further improvement in earnings in the ongoing quarter and a favourable trade deal with the U.S. to scale new peaks, two analysts say

** Lower trading volumes due to year-end holidays are also keeping markets muted and activity lackluster, analysts say

** Among individual stocks, Adani group-owned Ambuja Cements ABUJ.NS gains 2.2% after board approves amalgamation to merge ACC ACC.NS and Orient Cement ORCE.NS into Ambuja

** Plywood products maker Greenply Industries GRPL.NS rises 5% after Investec retains "buy" citing improving earnings momentum and attractive valuations

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463; ))