Software Stocks See Value Buying Even As Defence Shares Encounter Profit Booking

In today’s market session, Shail Bhatnagar from Business Today delivers a comprehensive overview of the stock market movements on a relatively flat Tuesday, coinciding with the weekly expiry of the Sensex. The Nifty saw marginal declines. IT stocks such as Infosys, TCS, and Emphasis stood out as top performers, offering some cushion amid widespread profit booking. The defence sector witnessed sharp corrections after a strong rally over the past month, with Cochin Shipyard and Mazagon Dock seeing notable declines. Similarly, profit booking extended to the banking and auto sectors, with HDFC Bank, ICICI Bank, and Ashok Leyland slipping slightly. However, Realty stocks led by DLF posted strong gains, buoyed by significant volumes and a technical breakout. In the mid-cap and tech segments, stocks like Persistent Systems, Oracle Financial, and Newgen Software saw upward momentum. Metal counters also rallied, with Tata Steel and SAIL showing strong volume action. Pharma names such as Pfizer and BASF caught investor attention despite mixed earnings, while BASF’s sharp correction in the past seems to have renewed buying interest. Overall, the market remains in a consolidating phase, with bulls and bears evenly matched as sector rotation and profit booking dominate the trading landscape.