Indian indices end flat as IT gains fade amid profit taking

Indian stock markets ended a volatile trading session on Thursday, July 16, 2026, with benchmark indices closing nearly flat as early gains fueled by technology stocks were erased by profit-taking in major financial and industrial shares. The 30-share BSE Sensex edged up by a marginal 1.44 points to close at 77,186.87, while the broader 50-share NSE Nifty dipped 5.75 points, or 0.02 percent, to settle at 24,072.75.

The session began on a positive note, with the Sensex climbing as much as 394.26 points to an intraday high of 77,579.69. Early strength was driven by information technology stocks, including HCL Technologies, Tech Mahindra, and Infosys, following a rally in U.S. technology shares. Analysts attributed the initial optimism to softer-than-expected U.S. wholesale inflation data released on Wednesday, which reinforced market expectations that the Federal Reserve may adopt a less aggressive monetary policy stance in the coming months.

However, these gains were not sustained. Profit-taking in key blue-chip stocks such as HDFC Bank, Axis Bank, and Reliance Industries pulled the indices lower in the latter part of the session. Financial stocks remained under pressure...