Nifty trades tad below 22,400; IT shares decline

The key equity indices reversed all gains and traded with small cuts in the morning trade. The Nifty traded a tad below the 23,400 level. IT shares extended losses for the third consecutive trading session. Trading was volatile due to the weekly Nifty50 F&O series expiry today.

At 10:28 IST, the barometer index, the S&P BSE Sensex, declined 77.50 points or 0.10% to 76,966.79. The Nifty 50 index fell 39.45 points or 0.17% to 23,396.95.

In the broader market, the S&P BSE Mid-Cap index shed 0.07% and the S&P BSE Small-Cap index rose 0.12%.

The market breadth was negative. On the BSE, 1,876 shares rose and 1,550 shares fell. A total of 195 shares were unchanged.

Buzzing Index:

The Nifty IT index declined 2.39% to 32,499.05. The index shed 0.06% in the past three consecutive trading sessions.

Wipro (down 5.59%), LTIMindtree (down 3.91%), HCL Technologies (down 2.72%), Infosys (down 1.79%), Coforge (down 1.65%), Persistent Systems (down 1.35%), Mphasis (down 1.28%), Tata Consultancy Services (down 1.18%), Tech Mahindra (down 1.15%) declined.

On the other hand, Oracle Financial Services Software (up 0.75%) edged higher.

Result Today

Infosys ( down 2.06%), HDFC Life Insurance Company ( down 0.41%), HDFC Asset Management Company ( down 1.07%), Jio Financial Services ( down 1.22%), Tata Elxsi ( down 1.14%), Mahindra EPC Irrigation ( up 4.12%), Indosolar ( down 4.75%), and National Standard (India) ( up 0.39%) will announced their quarterly earnings later today.

Stocks in Spotlight:

GTPL Hathway tumbled 1.81% after the companys consolidated net profit slipped 19.27% to Rs 10.64 crore in Q4 FY25, compared with Rs 13.18 crore in Q4 FY24. Revenue from operations increased 10.27% to Rs 890.99 crore in Q4 FY25, compared with Rs 807.98 crore posted in the corresponding quarter last year.

Prestige Estates Projects shed 0.56%. The company said that its new sales for Q4 FY25 aggregated to Rs 6,957.4 crore, marking a 48% year-on-year (YoY) growth, driven by strong customer response to launches and premium offerings.

Glenmark Pharmaceuticals shed 0.34%. The company said that US-based Glenmark Pharmaceuticals Inc. will launch a bioequivalent version of Adderall tablets in strengths ranging from 5 mg to 30 mg, with distribution set to begin in May 2025.

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