Sensex Edges Up 78 Points, Nifty Above 25,750; IT Stocks Drag Amid AI Worries

• Indian benchmark indices, Sensex and Nifty, closed marginally higher on Wednesday, snapping a two-session winning streak.
• The Nifty IT index slumped 6% due to a sharp selloff in information technology stocks, fueled by concerns over AI-led automation impacting traditional software firms' revenues.
• Infosys, TCS, HCLTech, Tech Mahindra, Axis Bank, and Kotak Mahindra Bank were major drags on Sensex, while Eternal, Trent, NTPC, Power Grid, and Adani Ports led gains.
• Broader markets outperformed, with Nifty MidCap and SmallCap indices rising 0.63% and 1.27% respectively.
• Global markets saw US indices decline due to rotation out of tech stocks, while Asian markets were mixed; gold and silver prices rose.