Overview
- The Sensex rose 650 points to 83,277 and the Nifty gained 212 to 25,683 after a weak start, with banks and power names leading the recovery.
- IT and software stocks continued to lag on concerns over AI-driven disruption and heavy capex, with Infosys and Tech Mahindra among notable decliners.
- Foreign investors were net sellers of roughly Rs 7,395 crore in the latest session, while domestic institutions bought about Rs 5,554 crore, cushioning the market.
- US inflation slowed to about 2.4% year over year for January, sending the 10-year Treasury yield to roughly 4.05% and the two-year to about 3.40%, with futures pricing a higher chance of a June Fed cut.
- Asia traded in thin holiday conditions and was mixed overall, as Japan reported just 0.1% annualised Q4 GDP growth that tempered regional risk appetite.