IT and banking stocks were the biggest drags on Indian indices today, with heavyweights like Infosys and HDFC Bank seeing early losses. The cautious global outlook and reduced risk appetite among foreign institutional investors (FIIs) have added to the pressure on these sectors.
Analysts suggest that the current dip could be temporary, with long-term fundamentals still intact. However, until global uncertainty eases and earnings forecasts stabilize, markets may see increased volatility. Investors are advised to adopt a wait-and-watch approach with a focus on defensive sectors.
