Nifty below 23,200 level; IT shares decline

The key equity barometers traded with minor losses in morning trade ahead of the weekly expiry of Sensex futures and options contracts amid weak cues from global markets. Nifty traded below the 23,200 level. IT shares declined for a seventh consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 79.78 points or 0.11% to 73,886.63. The Nifty 50 index fell 15.20 points or 0.08% to 23,185.40.

In the broader market, the BSE 150 MidCap Index fell 0.08% and the BSE 250 SmallCap Index added 0.11%.

The market breadth was negative. On the BSE, 1,537 shares rose and 2,041 shares fell. A total of 217 shares were unchanged.

Buzzing Index:

The Nifty IT index declined 2.44% to 27,590.90. The index tanked 11.64% in the seven consecutive trading sessions.

Oracle Financial Services Software (down 4.1%), HCL Technologies (down 3.37%), Infosys (down 2.94%), LTM (down 2.71%), Mphasis (down 2.51%), Persistent Systems (down 2.51%), Coforge (down 2.07%), Tata Consultancy Services (down 2.02%), Tech Mahindra (down 1.74%) and Wipro (down 1.32%) fell.

Stocks in Spotlight:

PPAP Automotive surged 17.30% after the company announced a technology partnership with Hutchinson to manufacture advanced body sealing systems for the passenger vehicle segment in India.

Blue Cloud Softech Solutions rose 2.25% after the company announced the appointment of Rama Rao Telli as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective 10 June 2026.

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