Nifty drops below 25,550 mark; realty shares slump

The key equity benchmarks traded with sharp losses in mid-morning trade, mirroring weak global cues amid newly introduced Anthropic AI model, raising concerns about the long-term implications for outsourcing-driven IT business models. Sentiment remained cautious and shifting towards risk-off stance. The Nifty traded below the 25,550 mark.

Realty shares plunged for the three straight sessions.

At 11:25 AM IST, the barometer index, the S&P BSE Sensex tumbled 856.28 points or 1.02% to 82,822.20. The Nifty 50 index tanked 261.40 points or 1.02% to 25,545.30.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index dropped 1.70% and the S&P BSE Small-Cap index fell 1.63%.

 

The market breadth was weak. On the BSE, 1080 shares rose and 2,800 shares fell. A total of 169 shares were unchanged.

MCX Gold futures for 2 April 2026 settlement rose 0.75% to Rs 153,979.

Buzzing Index:

The Nifty Realty index declined 2.78% to 818.90. The index declined 4.19% in the three consecutive trading session.

Prestige Estates Projects (down 4.37%), DLF (down 3.71%), Godrej Properties (down 3.61%), Brigade Enterprises (down 3.38%), Oberoi Realty (down 2.66%), Lodha Developers (down 2.42%), Phoenix Mills (down 2.25%), Sobha (down 1.65%), Anant Raj (down 1.52%) tumbled.

Stocks in Spotlight:

Whirlpool of India advanced 1.09%. The company has reported 39.7% drop in consolidated net profit to Rs 26.49 crore despite a 4.0% rise in net sales to Rs 1,773.84 crore in Q3 FY26 as compared with Q3 FY25.

Concord Enviro Systems declined 7.18% after the company reported a consolidated net loss of Rs 8.18 crore in Q3 FY26, marginally lower than the net loss of Rs 8.56 crore recorded in Q3 FY25. However, revenue from operations rose 1.4% YoY to Rs 124.58 crore in Q3 FY26.

Global Markets:

The Asia-Pacific market declined Friday, tracking Wall Street declines, as fears over artificial intelligence disruption drove the S&P 500 to a third straight day of losses.

Certain pockets of the U.S. stock market have been hit this year by the release of AI tools that threaten to automate tasks performed by some companiesor at least risk eating into their profit margins.

Overnight on Wall Street, US stocks fell sharply Thursday as the market punished companies seen as potential losers from artificial-intelligence technology.

The S&P 500 fell 108.71 points to 6,832.76. The Dow Jones Industrial Average dropped 669.42 to 49,451.98, and the Nasdaq Composite sank 469.32 to 22,597.15.

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