Nifty below 24,600 level; IT shares decline

The key equity barometers traded sideways in the morning trade. The Nifty traded below the 24,600 level. IT shares declined after advancing in the previous trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 66.78 points or 0.08% to 78,705.81. The Nifty 50 index fell 184.40 points or 0.74% to 24,589.90.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.38% and the BSE 250 SmallCap Index rose 0.59%.

The market breadth was strong. On the BSE, 2,241 shares rose and 1,419 shares fell. A total of 228 shares were unchanged.

RBI MPC meeting:

The Reserve Bank of India's (RBI) three-day Monetary Policy Committee (MPC) meeting entered its second day on Tuesday, 4 August 2026. RBI Governor Sanjay Malhotra is scheduled to announce the policy decision on Wednesday, 5 August 2026. Market participants will closely monitor the central bank's commentary on inflation, economic growth and the outlook for interest rates.

Buzzing Index:

The Nifty IT index fell 1.29% to 31,304.70. The index jumped 3.28% in the past trading session.

LTM (down 1.92%), Persistent Systems (down 1.87%), Infosys (down 1.84%), Mphasis (down 1.61%) and Tata Consultancy Services (down 1.42%), Coforge (down 1.27%), HCL Technologies (down 1.21%), Wipro (down 0.42%), Tech Mahindra (down 0.37%) fell.

Stocks in Spotlight:

Larsen & Toubro (L&T) rose 0.57%. The company?s hydrocarbon offshore arm, L&T Energy Hydrocarbon Offshore (LTEH Offshore), secured an ultra-mega offshore contract from ADNOC Offshore for a major project in the Middle East.

Mastek fell 1.67%. The company said its wholly owned step-down subsidiary, Mastek Inc., has entered into a strategic Platinum Partnership with Innovaccer to accelerate AI-driven digital transformation in the healthcare sector.

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