Market Watch: Sensex, Nifty Break 6-Week Losing Streak Ahead of US-Russia Summit

The Indian market closed higher, breaking a six-week losing run, driven by gains in Infosys after it agreed to buy a stake in Australia's Versent Group. The BSE Sensex added 57.75 points, or 0.07%, to close at 80,597.66, while the NSE Nifty 50 rose 11.95 points, or 0.05%, to end at 24,631.30. Analysts said the market was cautious ahead of the US-Russia summit and trade tensions, but expected to trade in a tight range with a mixed bias. US markets edged higher, while European stocks pulled back from multi-month highs due to weakness in tech and financial shares.

Indian markets closed higher on Friday, breaking a six-week losing streak, as Infosys shares surged after the company agreed to buy a 75% stake in Australia's Versent Group. The BSE Sensex added 57.75 points, or 0.07%, to close at 80,597.66, while the NSE Nifty 50 rose 11.95 points, or 0.05%, to end at 24,631.30. Analysts attributed the gains to Infosys's acquisition and the market's cautious outlook ahead of the US-Russia summit and trade tensions.

Infosys shares jumped 2% to Rs 1449.90 after the Bengaluru-based firm agreed to acquire a 75% stake in Versent Group, a wholly owned unit of Australia’s Telstra Group, in a deal valued at AUD 233.25 million (over Rs 1,300 crore). The acquisition is expected to strengthen Infosys’s presence in Australia’s cloud and AI services market and is expected to close in the second half of fiscal 2026, pending regulatory approvals [2].

The Indian market's performance was also influenced by the upcoming US-Russia summit and trade tensions. Analysts expect the market to trade in a tight range with a mixed bias ahead of the summit. US markets edged higher, while European stocks pulled back from multi-month highs due to weakness in tech and financial shares [1].

While Infosys's acquisition boosted market sentiment, analysts remain cautious about the impact of the US-Russia summit and potential trade tensions. The market's cautious outlook is likely to continue until there is clarity on these geopolitical developments.

References:
[1] https://m.economictimes.com/markets/stocks/news/how-markets-may-react-to-trump-putin-talks-and-modis-gst-tax-reform-on-monday/articleshow/123331263.cms
[2] https://m.economictimes.com/markets/stocks/news/infosys-shares-jump-2-after-rs-1300-crore-deal-to-buy-telstras-versent-stake/articleshow/123294706.cms