Tech Mahindra rises 10% as IT companies soar, while Sensex and Nifty remain unchanged

The trading day began with benchmark stock market indexes remaining unchanged, even though information technology (IT) companies saw significant advances.

At 10.07 am, the NSE Nifty50 was down 31.35 points to 22,539, while the S&P BSE Sensex was down 110.27 points to 74,229.17.

Gains were limited by a strong increase in volatility, even though the other broad market indexes were trading positively.

Among sectoral indexes, Nifty IT was the biggest gainer, increasing by about 2%. While most other sector indexes were having difficulties, Nifty Media saw a rise of more than 1%.

On the Nifty50, Tech Mahindra, Divi’s Laboratories, LTIM, Bajaj Auto, and Wipro were the top five gainers. Conversely, Bajaj Finserv, Tata Consumer Products, Apollo Hospitals, Nestle India, and Bajaj Finance were the biggest losers.

Early trading saw a 10% increase in Tech Mahindra shares as the business revealed its Q4 earnings and a three-year recovery plan.

In the meantime, LTIM shares increased in response to its Q4 earnings, having dropped the prior day.