Equity indices rebounded 1% on Wednesday, with the 30-share BSE Sensex surging 689 points to settle at 71,060 and the broader Nifty closing 215 points at 21,453. Stocks that were in focus included SBI Life, which rose 2.68%, Karnataka Bank, which fell 7.8%, and Tata Elxsi, whose shares declined 5.01%.
LTIMindtree, Wipro, and other IT stocks crack up to 5% amid Powell’s indication of slower rate cuts
IT stocks came under pressure on Monday after US Federal Chair Jerome Powell’s comments suggesting a slowdown in interest rate cuts. Powell highlighted persistent inflation