Indices trade in negative terrain; IT shares decline

The domestic equity indices traded with moderate losses in morning trade weighed down by profit booking. Sentiment remained cautious due to the expiry of BSE derivatives contracts and FII selling, prompting a shift toward a risk-off stance. Investors also awaited for the Q3 results from Indian Hotel Company, Hindustan Aeronautics, ONGC and Coal India, due later today. The Nifty traded below the 25,900 mark.

IT stocks witnessed selling pressure for the second consecutive session after stronger-than-expected US jobs data further dampened hopes of a Fed rate cut. Sentiment was also weighed down by concerns over AI-led disruptions.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 304.29 points or 0.36% to 83,929.15. The Nifty 50 index fell 89.05 points or 0.34% to 25,866.35.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index dropped 0.59% and the BSE 250 SmallCap Index slipped 0.63%.

The market breadth was negative. On the BSE, 1,597 shares rose and 2,047 shares fell. A total of 227 shares were unchanged.

Result Today:

Hindustan Unilever(up 0.32%), Oil and Natural Gas Corporation (up 0.69%), Coal India(down 0.01%), Lupin(up 0.26%), Indian Hotels Company(down 0.71%), Hindalco Industries(down 0.64%), Honasa Consumer(up 1.06%), Abbott India(down 0.65%), Bajaj Hindusthan Sugar(down 0.70%), Bharat Forge(down 0.60%), Biocon(up 1.89%), CRISIL(down 1.58%), Endurance Technologies(down 1.09%), Hindustan Aeronautics(down 0.71%), Indraprastha Gas(down 3.69%), Indian Railway Catering and Tourism Corporation(down 0.20%), Muthoot Finance(up 0.46%), Natco Pharma(up 0.79%), Petronet LNG(down 0.69%), Rashtriya Chemicals and Fertilizers(down 0.63%), SpiceJet(up 0.19%) and Zaggle Prepaid Ocean Services (down 0.91%) will release their quarterly earnings today.

Buzzing Index:

The Nifty IT index dropped 3.96% to 33,704. The index declined 5.65% in the two consecutive trading sessions.

Coforge (down 5.04%), Infosys (down 4.72%), Mphasis (down 4.42%), LTIMindtree (down 4.36%) and Tech Mahindra (down 4.24%), Wipro (down 4.23%), Tata Consultancy Services (down 3.96%), Persistent Systems (down 3.96%), HCL Technologies (down 3.62%) and Oracle Financial Services Software (down 3.21%) declined.

Stocks in Spotlight:

SJVN rallied 3.14% after the company reported a 50.6% jump in consolidated net profit to Rs 224.38 crore in Q3 FY26, compared with Rs 149.03 crore in Q3 FY25. Revenue from operations surged 61.2% year-on-year to Rs 1,081.97 crore during the quarter under review, up from Rs 670.99 crore in the corresponding period last year.

Elgi Equipments rose 2.72% after the company reported a consolidated net profit of Rs 95.2 crore in Q3 FY26, up 18.1% from Rs 80.6 crore in Q3 FY25. Revenue from operations rose 18.4% year-on-year to Rs 1,003 crore in Q3 FY26 from Rs 848 crore in Q3 FY25.

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