Market under pressure; IT shares decline
IT shares declined after advancing in the past trading session.
At 12:25 IST, the barometer index, the S&P BSE Sensex declined 550.92 points or 0.75% to 73,175.43. The Nifty 50 index lost 211.45 points or 0.93% to 22,599.20.
The broader market underperformed the frontline indices. The Nifty MidCap 150 Index declined 1.05% and the Nifty SmallCap 250 Index fell 1.16%.
The market breadth was weak. On the BSE, 901 shares rose and 2,506 shares fell. A total of 104 shares were unchanged.
Brent crude for December 2026 settlement jumped $2.73 or 2.51% to $111.55 a barrel.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.33% to 16.20. The Nifty 27 October 2026 futures were trading at 22,645 at a premium of 45.8 points as compared with the spot at 22,599.20.
The Nifty option chain for the 27 October 2026 expiry showed a maximum call OI of 1.71 crore contracts at the 23,000 strike price. A maximum put OI of 1.11 crore contracts was seen at the 22,000 strike price.
Buzzing Index:
The Nifty IT index declined 1.75% to 31,856.50. The index jumped 2.88% in the past trading session.
Mphasis (down 2.21%), Tech Mahindra (down 2.16%), Coforge (down 2.14%), HCL Technologies (down 1.79%), Tata Consultancy Services (down 1.74%) were the top losers. Among the other losers were Infosys (down 1.61%), Persistent Systems (down 1.28%) and Oracle Financial Services Software (down 0.89%) declined.
Stocks in spotlight:
Indian Hotels Company (IHCL) jumped 5.05% to Rs 790 after the company?s consolidated net profit jumped 22.66% to Rs 349.49 crore in Q2 FY27 compared with Rs 284.92 crore in Q2 FY26. Revenue from operations climbed 21.73% YoY to Rs 2,484.32 crore in the quarter ended 30th September 2026
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