Adani Ports and SEZ and Kotak Mahindra Bank stocks led gains on the Nifty in Monday’s afternoon trade, while IT stocks such as Wipro and Infosys remained under pressure, extending their losing streak amid concerns over artificial intelligence-led disruption and recent brokerage downgrades.
Meanwhile, benchmark indices Sensex and Nifty were trading modestly higher but pared early gains. The indices saw profit booking after last week’s relief rally linked to the US Supreme Court striking down President Donald Trump’s tariffs. Fresh uncertainty resurfaced after Trump announced a new 15 percent tariff, keeping global cues fragile.
At 1:50 pm, the Sensex was up 303 points, or 0.4 percent, at 83,118, while the Nifty gained 83 points, or 0.3 percent, to 25,654. Market breadth remained weak, with 2,110 stocks declining against 1,771 advances on the NSE.
Adani Ports and Special Economic Zone shares topped the Nifty gainers list, rising 2.3 percent to Rs 1,545.9, as buying interest continued in select infrastructure-linked stocks.
Kotak Mahindra Bank advanced 2.1 percent to Rs 430.1, outperforming the broader banking pack even as the Nifty Bank index traded largely flat.
Insurance stocks saw defensive buying, with HDFC Life Insurance climbing 1.8 percent to Rs 741.9 and SBI Life Insurance rising 1.5 percent to Rs 2,111.5.
In the pharma space, Dr Reddy’s Laboratories gained 1.7 percent to Rs 1,302.5, while Grasim Industries added 1.6 percent to Rs 2,877.4.
Hindalco Industries was the biggest laggard on the index, falling 2.4 percent to Rs 913.5, amid continued weakness in metal stocks.
IT stocks extended losses for the fourth straight session. Wipro dropped 2.3 percent to Rs 205, while Infosys declined 2.1 percent to Rs 1,325.1. HCL Technologies slipped nearly 1 percent to Rs 1,422.8. The Nifty IT index was down 1.61 percent.
Among other losers, Oil and Natural Gas Corporation fell 1.8 percent to Rs 273.6, while Cipla declined 1.3 percent to Rs 1,323.9.
Sectorally, IT remained the weakest pocket, while defensives such as FMCG and pharma traded in the green. India VIX slipped 1.18 percent to 14.19, indicating subdued volatility even as traders remained cautious at higher levels amid ongoing uncertainty around US tariff policy.
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