Indices trades with moderate losses; IT shares decline for 2nd day

The key equity benchmarks traded with modest losses in the morning trade as investors kept a close eye on the Bihar Election results. The Nifty traded below the 25,800 level. IT shares extended losses for second consecutive trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, tanked 328.10 points or 0.39% to 84,209.56. The Nifty 50 index shed 94.25 points or 0.36% to 25,784.90.

In the broader market, the S&P BSE Mid-Cap index shed 0.25% and the S&P BSE Small-Cap index shed 0.09%.

The market breadth was negative. On the BSE, 1,683 shares rose and 1,959 shares fell. A total of 209 shares were unchanged.

New Listings:

Shares of Pine Labs were currently trading at Rs 253.80 at 10:25 IST on the BSE, representing a premium of 14.84% as compared with the issue price of Rs 221.

The stock was listed at Rs 242, exhibiting a premium of 9.5% to the issue price.

So far, the stock has hit a high of 254 and a low of 234.05. On the BSE, over 28.22 lakh shares of the company were traded in the counter so far.

Bihar Elections:

The counting of votes for the Bihar Assembly Election 2025 kicked off at 8 AM across 46 counting centres in all 38 districts. Ongoing trends continue to show the NDA alliance comfortably in front, as the state awaits final results later in the day.

The National Democratic Alliance (NDA) now has Janata Dal (United) [JD(U)] leading on 70 seats, Bharatiya Janata Party (BJP) on 70 seats, Lok Janshakti Party (Ram Vilas) [LJPRV] on 15 seats, Hindustani Awam Morcha (Secular) [HAMS] on 4 seats, and Rashtriya Lok Morcha [RSHTLKM] on 1 seat.

The Mahagathbandhan (MGB) alliance features Rashtriya Janata Dal (RJD) leading on 40 seats, Indian National Congress (INC) on 9 seats, Communist Party of India (Marxist-Leninist) Liberation [CPI(ML)(L)] and Hindustani Awam Morcha (Secular) [HAMS] each on 4 seats, All India Majlis-E-Ittehadul Muslimeen (AIMIM) on 2 seats, and Communist Party of India (Marxist) [CPI(M)], Communist Party of India [CPI], and Vikassheel Insaan Party (VSIP) each on 1 seat.

Individuals and other parties contesting outside the alliances include Bahujan Samaj Party (BSP), The Plurals Party (TPLRSP), and Independents (IND), each leading on 1 seat as per the latest ECI trends.

Bihar has logged a record voter turnout of 67.13%, with more than 7.45 crore voters deciding the outcome for 2,616 candidates across 243 seats, marking a historic participation since 1951.

Q2 Result Today:

Tata Motors Passenger Vehicles, Siemens, Marico, MRF, Glenmark Pharma, Exide Industries, SKF India, V2 Retail, Archean Chemical Industries, Ahluwalia Contracts (India), Allcargo Logistics, Ashoka Buildcon, BASF India, Bombay Burmah Trading Corporation, Borana Weaves, Cargotrans Maritime, Confidence Petroleum India, Valor Estate, Dreamfolks Services, EMS, Engineers India, Fineotex Chemical, Brainbees Solutions will announce their quarterly results today.

Buzzing Index:

The Nifty IT index fell 1.32% to 36,195.95. The index shed 1.78% in two consecutive trading session.

Infosys (down 2.45%), Mphasis (down 2.08%), Coforge (down 1.64%), Tech Mahindra (down 1.11%) and Wipro (down 1.03%), Oracle Financial Services Software (down 0.64%), Tata Consultancy Services (down 0.64%), HCL Technologies (down 0.63%), Persistent Systems (down 0.6%) and LTIMindtree (down 0.55%) declined.

Stocks in Spotlight:

Tilaknagar Industries jumped 5.99% after the company reported a 40.48% drop in consolidated net profit to Rs 52.68 crore on a 2.67% decline in revenue from operations (excluding excise duty) to Rs 398.22 crore in Q2 FY26 over Q1 FY26.

Titagarh Rail Systems tumbled 9.50% after the company reported 54.26% decline in consolidated net profit to Rs 36.90 crore in Q2 FY26 as against Rs 80.69 crore posted in Q2 FY25. Revenue from operations decreased 24.40% year-on-year (YoY) to Rs 799.03 crore in the quarter ended 30 September 2025.

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