IT stocks rallied up to 5% on Wednesday, driven by improved market sentiment on hopes of fresh Iran-US talks and easing concerns around AI disruption. After earlier losses due to AI and inflation worries, the sector is seeing a partial recovery, with Nifty IT emerging as a top gainer.
FPIs’ outflow nears Rs 33,000 crore in May on weaker rupee
However, the trend reversed in March, when foreign investors pulled out a record Rs 1.17 lakh crore. The selling continued in April with net outflows