Sensex closes 0.2% lower after IT weakness

India’s BSE Sensex gave up initial gains to close about 0.2% down at 77,473 on Wednesday, as weakness in IT stocks outweighed gains in banks and metals.

Softer US sanctions on Iran eased inflation concerns, helping domestic bond yields decline and supporting lenders, while metal stocks benefited from improving realization prospects.

IT shares, meanwhile, came under pressure after the US paused visa appointments amid an immigration crackdown, reviving concerns over higher costs and margin pressure.