Nifty slides below 24,650; IT shares extent losses for 4th day

The domestic equity benchmarks traded with moderate losses in the morning trade as investors closely tracking corporate earnings and the delay in trade talks between India and the U.S. The Nifty traded below the 24,650 mark. IT shares witnessed selling pressure for the fourth consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex declined 192.04 points or 0.24% to 80,740.95. The Nifty 50 index lost 48.80 points or 0.20% to 24,633.70.

In the broader market, the S&P BSE Mid-Cap index added 0.05% and the S&P BSE Small-Cap index slipped 0.07%.

The market breadth was positive. On the BSE, 1,839 shares rose and 1,653 shares fell. A total of 209 shares were unchanged.

Result today:

Amber Enterprises India (down 0.22%), Larsen & Toubro (up 0.13%), Asian Paints (down 0.08%), Allied Blenders and Distillers (down 0.49%), Varun Beverages (up 1.02%), Welspun Corp (up 1.61%), NTPC (down 0.50%), ASK Automotive (down 0.18%), Bank of India (down 0.40%), Blue Dart Express (down 0.14%), Craftsman Automation (down 0.29%), Dilip Buildcon (up 0.43%), Deepak Fertilizers & Petrochemicals Corporation (down 4.95%), Gabriel India (down 0.24%), Strides Pharma (down 2.18%), Gateway Distriparks (down 0.45%), GMR Airports (up 0.50%), Greenply Industries (down 0.94%), GE Vernova T&D India (up 0.64%) and Happiest Minds Technologies (down 0.53%) will declare their quarterly result later today.

Buzzing Index:

The Nifty IT index slipped 0.45% to 35,212.60. The index slumped 4.70% in four consecutive trading sessions.

Infosys (down 0.72%), Tata Consultancy Services (down 0.54%), Oracle Financial Services Software (down 0.48%), Coforge (down 0.39%), Wipro (down 0.34%), LTIMindtree (down 0.22%) and Tech Mahindra (down 0.18%) declined.

On the other hand, HCL Technologies (up 0.48%), Persistent Systems (up 0.37%) and Mphasis (up 0.13%) edged higher.

Stocks in Spotlight:

IndusInd Bank added 0.80%. The company reported a 68.21% decline in standalone net profit to Rs 684.25 crore on a 3.79% fall in total income to Rs 14,420.12 crore in Q1 FY26 over Q1 FY25.

Adani Green Energy added 0.66%. The company?s consolidated net profit jumped 59.87% to Rs 713 crore on a 35.9% increase in revenue from operations to Rs 3,741 crore in Q1 FY26 over Q1 FY25.

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