A Fortnight of Fluctuations: Oil & Gas and IT Sectors Rise Amid Market Volatility

Experiencing high volatility in the market, the oil & gas and IT sectors endeavoured to counterbalance losses incurred by banking stocks, aiming to sustain resilience.

Over the last fortnight, Indian benchmark indices have experienced a roller-coaster ride, driven by factors such as quarterly earnings announcements, a rally in the IT sector, and substantial selling by foreign institutional investors (FIIs). While FIIs turned into net sellers, domestic institutional investors (DIIs) transitioned to become net buyers, contributing a net inflow of ₹17,571 crore. Meanwhile, FIIs recorded a sizeable net outflow of ₹26,873 crore over the last 15 days. Consequently, the BSE Sensex concluded the period with a 0.84 per cent decline, and the Nifty 50 also registered a 0.60 per cent drop.