IT stocks power Nifty's gap-up as crude, Fed weigh on outlook
Brent crude remains a primary concern, trading near $107 a barrel following Houthi attacks on Saudi oil infrastructure and clashes involving U.S. naval vessels and Iranian tankers in the region
Markets opened higher on Tuesday, September 15, as Nifty 50 and Sensex both saw gains, reversing recent losses. Information technology stocks led the recovery, with HCL Technologies, Infosys, Tech Mahindra, and TCS among the top gainers. Despite a weak global backdrop, including lower Wall Street markets and concerns over AI development, domestic factors like the U.S. Federal Reserve's potential rate hike and elevated oil prices contributed to the rally.
Indian equities have been supported by net purchases from domestic institutional investors and uncertainty surrounding the upcoming Fed meeting. Technical analysis suggests the Nifty may briefly pull back but could recover if it sustains a move above 23,600.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- IT stocks couldn’t save Nifty as crude, Fed fears drag markets into red thehindubusinessline.com
