Stock market recoups losses with IT, telecom, and energy stocks rising the most

The stock market started strong in the green as trading commenced on Tuesday, March 5, with notable gains in mid and small-cap IT and telecom, oil and gas, and large-cap IT stocks. By 9:20 AM, the benchmark BSE Sensex had gained 182.24 points, or 0.25%, reaching 73,172.17. Meanwhile, the broader NSE Nifty opened 49.80 points higher, up 0.23%, at 22,132.45.

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Market Rebounds After Previous Day’s Decline Amid Tariff Impact

In contrast, the market was in the red yesterday as Trump’s tariffs on China, Canada, and Mexico came into effect. Among the 30 Sensex stocks, Power Grid Corporation of India rose the most upon open by 2.66 per cent, trading at ₹260.80. This was followed by Mahindra & Mahindra, which was up 2.65 per cent, trading at ₹2683.40, and HCL Technologies, which was up by 1.57 per cent, trading at ₹1560.

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Nifty IT & Telecom Lead Gains, While Some Stocks Struggle

Among the Nifty sectoral indices, the Nifty Midsmall IT & Telecom Index gained the most, rising 1.99% to 8,863.40. Nifty Oil & Gas followed with a 1.16% increase to 9,687.95, while Nifty IT climbed 1.08% to 37,678.85. In contrast, HCL Technologies recorded the second-largest decline at yesterday’s open, dropping 2.47% to ₹1,534.05, while 12 Sensex stocks traded in the red.

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IT & Telecom Struggle as Oil & Gas Gains Amid Falling Crude Prices

In sharp contrast, the Midsmall IT & Telecom Index dropped the most by 2.40% to 8,561.00 at yesterday’s open, while Nifty IT recorded the third-largest decline, falling 2.03% to 36,852.50. Meanwhile, the Oil & Gas index climbed as global oil prices declined. The benchmark Brent Crude lost 0.35% or $0.25, trading at $70.79 per barrel, while WTI Crude dropped 0.82% or $0.56 to $67.70 per barrel.