Nifty below 23,650; IT shares decline

The headline equity indices traded with major losses in morning trade amid rising crude oil prices, sustained foreign fund outflows, and renewed concerns over the fragile US-Iran ceasefire. Nifty traded below the 23,650 mark. IT shares declined for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, tanked 713.83 points or 0.94% to 75,301.45. The Nifty 50 index fell 191.65 points or 0.80% to 23,624.80.

In the broader market, the BSE 150 MidCap Index slipped 0.72% and the BSE 250 SmallCap Index declined 1.02%.

The market breadth was weak. On the BSE, 1,211 shares rose and 2,478 shares fell. A total of 193 shares were unchanged.

 

Buzzing Index:

The Nifty IT index fell 3.30% to 28,362.80. The index declined 2.76% in the two consecutive trading sessions.

Persistent Systems (down 4.38%), Tata Consultancy Services (down 3.84%), Infosys (down 3.76%), Coforge (down 2.76%), Tech Mahindra (down 2.74%), HCL Technologies (down 2.72%), LTM (down 2.63%), Wipro (down 2.5%), Mphasis (down 2.22%) and Oracle Financial Services Software (down 1%) tanked.

Stocks in Spotlight:

G R Infraprojects lost 4.09% after the companys consolidated net profit dropped 48.75% to Rs 206.97 crore in Q4 FY26 as against Rs 403.90 crore in Q4 FY25. Revenue from operations rose 9.88% YoY to Rs 2,500.41 crore in the quarter ended 31 March 2026.

Fractal Analytics rose 3.55% after the company reported an 115% rise in consolidated net profit to Rs 117.80 crore on a 17% increase in revenue to Rs 886.30 crore in Q4 FY26 as compared with Q4 FY25.

Abbott India fell 1.83%. The company reported a 7.6% increase in consolidated net profit to Rs 394.93 crore on a 6.5% rise in revenue to Rs 1,709.51 crore in Q4 FY26 as compared with Q4 FY25.

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