Share prices of Wipro Ltd., Infosys Ltd. and Tata Consultancy Services Ltd. were the top gainers among the NSE Nifty 50 stocks on Wednesday. Among the losers were shares of Bharat Electronics Ltd., Tata Motors Ltd., Trent Ltd., NTPC Ltd. and Power Grid Corp.
Gains in information technology stocks powered Indian benchmarks higher as US President Donald Trump's plans for artificial intelligence offset trade tariff risks.
The S&P BSE Sensex closed 566 points or 0.75% up at 76,404, while the NSE Nifty 50 was 130.7 points or 0.57% higher at 23,135.5. On the Nifty, 23 stocks closed in the red, while 27 advanced.
Top Gainers
Wipro was the top gainer on the Nifty, closing 3.87% higher at Rs 309. The stock jumped 3.9% intraday.
IT peers Infosys Ltd., Tata Consultancy Services Ltd. and Tech Mahindra Ltd. also advanced on prospects that US President Donald Trump's artificial intelligence boost will favour domestic companies. While Infosys gained 3%, TCS and Tech Mahindra rose over 2%.
Trump pushed to make the US an AI superpower by having fewer guardrails by immediately halting the implementation of key safety and transparency requirements for AI developers. Improving business activity in the US would translate into more order wins for domestic tech firms.
Top Losers
BEL was the top loser on the Nifty. The scrip shed 3% at market close.
Tata Motors declined over 2%, while Trent lost nearly 2%. There were no specific triggers for the decline.
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