Market pare gains; IT shares decline

The key equity benchmarks reversed all early gains and traded with minor losses in early afternoon trade. The Nifty traded below the 25,250 mark. IT shares extended losses for the fourth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex declined 53.25 points or 0.08% to 81,820.66. The Nifty 50 index rose 30.80 points or 0.12% to 25,224.25.

The broader market outperformed the frontline indices. The Nifty MidCap 150 Index rose 0.64% and the Nifty SmallCap 250 Index added 0.94%.

The market breadth was positive. On the NSE, 2,447 shares rose and 1,762 shares fell. A total of 266 shares were unchanged. c

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.73% to 16.90. The Nifty 23 November 2026 futures were trading at 25,263.60 at a premium of 39.35 points as compared with the spot at 25,224.25.

The Nifty option chain for the 23 November 2026 expiry showed a maximum call OI of 77.9 crore contracts at the 26,000 strike price. A maximum put OI of 72.4 crore contracts was seen at the 25,000 strike price.

Buzzing Index:

The Nifty IT index shed 0.95% to 32,018.45. The index fell 2.73% in the four consecutive trading sessions.

Tata Consultancy Services (down 1.64%), Wipro (down 1.17%), HCL Technologies (down 1.09%), Infosys (down 1.08%), Oracle Financial Services Software (down 0.98%), Tech Mahindra (down 0.9%), and Coforge (down 0.26%) declined.

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