Indian equities traded higher on Wednesday, with the Sensex and Nifty making a sharp rebound from a muted start to the session.

The momentum in the market was supported by an uptick in IT stocks amid a growing AI bubble fear globally ahead of Nvidia's quarter results.

At the closing bell, the BSE Sensex closed lower by 513 points (up 0.6%).

Meanwhile, the NSE Nifty closed 142 points higher (up 0.5%).

Wipro, Infosys and TCS are among the top gainers today.

Tata Motors Passenger Vehicle, Adani Ports and SEZ, and Bajaj Finance, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 26,064, up by 153 points at the time of writing.

The BSE MidCap index ended 0.3% higher, and the BSE SmallCap index ended 0.4% lower.

Sectoral indices were trading mixed, with stocks in the IT sector, banking sector and media sector witnessing buying. Meanwhile, the stocks in the oil & gas sector and the energy sector are witnessing the most selling pressure.

The rupee is trading at 88.58 against the US$.

Gold prices for the latest contract on MCX are trading 1.1% higher at Rs 122,640 per 10 grams.

Meanwhile, silver prices were trading 2.2% at Rs 148,950 per 1 kg.
 

Why Infosys Share Price is Rising

In the news from the IT sector, shares of IT major Infosys Ltd rose 3.5% on 19 November, a day after the firm said the window for Rs 180 billion (bn) share buyback will open on November 20.

The company had set per share price for buyback at Rs 1,800, which is at a 21% premium to 18 November close.

The company's promoters, who hold 13.05% stake as of September 30, had decided to opt out of the share buyback.

In September, the company's board had approved the fifth share buyback in its history.

Infosys is a leading Indian multinational technology company that offers information technology (IT), business consulting, and outsourcing services.

Infosys provides software development, maintenance, independent validation, and consulting services across industries such as finance, insurance, and manufacturing.

In the past month, shares of Infosys surged 5%.
 

Groww Hits 10% Lower Circuit

Moving on, Shares of Billionbrains Garage Ventures Ltd, the parent company of online brokerage platform Groww, hit a 10% lower circuit on Wednesday - the first decline in its six trading sessions since debuting on November 12. Earlier in the day, exchanges revised the circuit limit to 10% from the previous 20%.

Groww was listed last week at a 12% premium to its IPO price of Rs 100, opening at Rs 112 per share. On the BSE, the stock began trading at Rs 114, a 14% premium to the issue price, following the public offer priced between Rs 95 and Rs 100.

During Wednesday's session, the stock hit the lower circuit at Rs 169.89 on the NSE, dragging the company's market capitalisation down to Rs 1.04 lakh crore.

Additionally, Groww is set to announce its quarterly results on Friday, November 21 - its first earnings report post listing.

Founded back in 2016, it began as a direct mutual fund distribution platform, quickly gaining popularity among investors in India. It's headquartered in Bengaluru, India.

Groww's offerings span brokerage, asset management, and credit distribution, through its in-house technology platform and the Groww app.
 

Why Shrimp Stocks are Rising

Moving on, Shares of shrimp companies surged on November 19 after China informed Japan that it would halt all imports of Japanese seafood.

The move comes amid rising tensions between Beijing and Tokyo following Japanese Prime Minister Sanae Takaichi's remarks on Taiwan. Since Indian shrimp and shrimp-feed exporters supply products to China, the ban on Japanese seafood has fuelled expectations of higher demand shifting toward India.

Apex Frozen Foods rallied nearly 5% to around Rs 305.99 apiece, Coastal Corporation climbed 9%, and Avanti Feeds rose close to 12%.

So, why are shrimp stocks rallying?

These export-driven counters had previously seen a sharp decline after the Trump administration hiked tariffs on Indian imports to 50%, citing India's continued purchase of Russian oil.

However, renewed optimism around a potential India-US trade deal has revived sentiment, benefiting shrimp companies that rely heavily on the American market.

Alongside this, expectations of increased demand from China have further supported the rally, as Indian shrimp exporters stand to benefit from Beijing's ban on Japanese seafood.

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