Nifty trades below 22,550 mark; IT shares plunge for 2nd day

The key equity indices remained under pressure in morning trade on Wednesday, as persistent concerns over elevated crude oil prices, weakness in heavyweight stocks and mixed corporate earnings continued to weigh on investor sentiment. Caution ahead of the US Federal Reserve?s monetary policy decision further dampened risk appetite, with market participants closely monitoring the potential implications for global financial markets. The Nifty traded below the 22,550 mark, reflecting sustained selling pressure in the domestic equity market.

IT shares declined for second consecutive trading sessions.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 892.16 points or 1.21% to 72,706.51. The Nifty 50 index fell 221.70 points or 0.99% to 22,524.35.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index dropped 0.27% and the BSE 250 SmallCap Index shed 0.32%.

The market breadth was strong. On the BSE, 1,514 shares rose and 2,169 shares fell. A total of 250 shares were unchanged.

Earnings Today:

Hero MotoCorp(up 1.55%), Hindustan Unilever(down 1.46%), Adani Enterprises(down 1.05%), Adani Ports and Special Economic Zone(down 1.23%), Hyundai Motor India(up 4.41%), TVS Motor Company(up 1.14%), United Spirits(up 0.22%), Bandhan Bank(up 0.26%), Birlasoft (down 1.85%), CarTrade Tech(up 1.86%), GMR Airports(up 0.18%), Hexaware Technologies(down 1.48%), JSW Energy(up 0.25%), KPIT Technologies(down 2.15%), Karnataka Bank(up 0.33%), Info Edge (India) ((up 0.36%), Pidilite Industries(down 1.69%), PVR Inox(down 1.65%), R R Kabel (down 0.06%) will declare their results later today.

New listing:

Shares of Jio Platforms were trading at Rs 1,357.70 on the BSE, a premium of 21.33% compared with the issue price of Rs 1,119.

The scrip was listed at 1,358, at a premium of 21.36% compared with the initial public offer (IPO) price.

The counter hit a high of Rs 1,375 and a low of Rs 1,356.40. About 92.93 lakh shares of the company changed hands at the counter.

Buzzing Index:

The Nifty IT index declined 3.17% to 31,613.25. The index dropped 2.04% in the two trading sessions.

Mphasis (down 4.63%), Infosys (down 4.51%), Tech Mahindra (down 3.07%), HCL Technologies (down 2.61%) and Tata Consultancy Services (down 2.58%), Coforge (down 2.55%), Persistent Systems (down 1.41%), Wipro (down 1.1%), LTM (down 0.59%) and Oracle Financial Services Software (down 0.43%) declined.

Stocks in Spotlight:

Bajaj Auto advanced 1.80% after the company reported a 35.25% increase in standalone net profit to Rs 3,353.76 crore in Q2 FY27 as compared with Rs 2,479.74 crore in Q2 FY26. Revenue from operations rose 34.05% to Rs 20,003.43 crore in Q2 FY27 from Rs 14,922.05 crore in Q2 FY26.

Powered by Capital Market - Live News