Indices trade in negative terrain; IT shares plunge for 8th day

The benchmark indices continued to trade with significant losses in mid-afternoon trade. Investor sentiment remained cautious amid a surge in crude oil prices and rising global bond yields. The Nifty traded below the 22,700 level.

At 14:25 IST, the S&P BSE Sensex declined 387.89 points or 0.53% to 72,390.56. The Nifty 50 index dropped 119 points or 0.52% to 22,661.25.

In the broader market, the NSE MidCap 150 Index fell 0.43% while the NSE SmallCap 250 Index rose 0.04%.

The market breadth was negative. On the NSE, 1,493 shares rose and 1,997 shares fell. A total of 115 shares were unchanged.

Buzzing Index:

The Nifty IT index declined 1.34% to 27,709.30. The index tumbled 4.96% in the eight consecutive trading sessions

Oracle Financial Services Software (down 2.19%), Wipro (down 1.96%), HCL Technologies(down 1.9%), Mphasis(down 1.85%) Infosys(down 1.82%), Persistent Systems (down 1.51%), Tata Consultancy Services (down 1.32%), Tech Mahindra (down 0.6%), LTM (down 0.07%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.14% to 7.173 compared with the previous session close of 7.111.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.9950 compared with its close of 95.9700 during the previous trading session.

MCX Gold futures for 5 October 2026 settlement shed 0.21% to Rs 1,146,500.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.19% to 101.39.

The United States 10-year bond yield added 0.11% to 5.251.

In the commodities market, Brent crude for November 2026 settlement added 32 cents or 0.30% to $105.60 a barrel.

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