Benchmark indices maintained their upward trajectory for a third consecutive session on Wednesday, as the markets successfully shook off a sluggish start. Buying momentum intensified through the day, helping the Sensex and Nifty finish in positive territory despite significant pressure from the technology sector. The Sensex closed 78.56 points higher at 83,817.69, while the Nifty 50 added 48.45 points to settle at 25,776.00. The session was characterized by a sharp recovery from early lows, supported by strong performance in consumer durables and energy. A primary highlight was the dramatic slump in IT stocks, with the Nifty IT index plunging 6% in its steepest single-day decline in years. This "SaaSpocalypse" followed global software jitters after the launch of new high-efficiency AI tools, which triggered fears over the long-term demand for traditional IT services. Major losers included Infosys and TCS, which both tumbled over 7%. Offsetting the tech rout, companies like Eternal and Trent surged by 5% each. Strong gains were also recorded by NTPC, Power Grid, and Adani Ports. The broader market displayed resilience as the Nifty SmallCap index outpaced the benchmarks with a 1.27% gain. Domestic sentiment was further bolstered by the recent India-US trade agreement, which has significantly lowered reciprocal tariffs. Institutional participation remained healthy, with Foreign Institutional Investors (FIIs) pumping over 5,200 crore into equities in the previous session. Economic indicators continue to signal strength. India's services PMI climbed to a two-month high of 58.5 in January, and the GDP growth forecast for the current fiscal remains robust at 7.4%. While the rupee weakened slightly to 90.43 against the dollar, record-high foreign exchange reserves of 701 billion provide a substantial buffer against external shocks. Investors now shift their focus toward the Reserve Bank of India’s monetary policy announcement scheduled for Friday. With headline inflation hovering at historic lows, the market is closely watching for potential shifts in the central bank’s interest rate stance.