Two Sharp with ET: Markets rally on US Fed's dovish stance & Adani shakes up Wires & Cables market

In this episode of Two Sharp with ET, Nisha Poddar breaks down two key business stories you need to know today: the market rally driven by IT stocks and Adani's entry into the wires and cables sector. The Nifty IT index, which had fallen by 16.4% in 2025, rebounded with a 1.2% gain, leading to a broader market rally. Companies such as HCL Tech, TCS, Wipro, and Infosys experienced strong buying interest, contributing nearly 200 points to the rise of the Sensex. This surge comes amid optimism surrounding the US Federal Reserve's dovish stance and positive investor sentiment toward Indian IT stocks. Additionally, Adani Enterprises has announced a new joint venture, Praneetha Ecocables Ltd (PEL), which is set to disrupt the wires and cables industry. This development has caused stock prices of leading competitors Polycab India and RR Kabel to tumble. It follows just months after the Aditya Birla Group made a significant ?1,800 crore investment in the sector. Will this mark the beginning of Adani versus Birla Round 2, similar to what we saw in the cement industry?