Sensex slumps 201 pts; IT shares drop

The key equity indices traded with minor losses in morning trade, weighed down by weakness in banking and IT shares. Sentiment, however, found support on hopes of a potential India-UK free trade agreement during Prime Minister Modis visit to the UK. The proposed free trade agreement (FTA) is expected to ease tariffs on key goods and enhance bilateral market access.

The Nifty traded below the 25,200 level. IT shares declined after advancing for previous trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, declined 200.93 points or 0.23% to 82,532.74. The Nifty 50 index shed 48.85 points or 0.19% to 25,171.75.

 

In the broader market, the S&P BSE Mid-Cap index fell 0.41% and the S&P BSE Small-Cap index shed 0.03%.

The market breadth was positive. On the BSE, 1,801 shares rose and 1,786 shares fell. A total of 188 shares were unchanged.

Buzzing Index:

The Nifty IT index declined 1.84% to 36,273.05. The index shed .25% in the previous trading sessions.

Persistent Systems (down 8.09%), Coforge (down 6.75%), Mphasis (down 2.29%), Tech Mahindra (down 1.11%), Infosys (down 0.92%), LTIMindtree (down 0.91%), Tata Consultancy Services (down 0.44%), HCL Technologies (down 0.34%) declined.

On the other hand, Oracle Financial Services Software (up 1.61%), Wipro (up 0.19%) added.

Coforge tanked 6.75%. The company reported 21.52% jump in consolidated net profit to Rs 317.40 crore in Q1 FY26 compared with Rs 261.20 crore in Q4 FY25. Net sales rose 8.17% QoQ to Rs 3,688.60 crore in Q1 FY26.

Result today:

Bajaj Finance (down 0.62%), SBI Life Insurance Company (down 0.26%), ACC (down 0.21%), Mphasis (down 1.74%), Nestle India (up 0.47%), Adani Energy Solutions (down 1.54%), V-Mart Retail (up 2.11%), Aether Industries (up 0.66%), Ajmera Realty & Infra India (up 0.51%), Anant Raj (up 0.68%), APL Apollo Tubes (up 0.44%), Canara Bank (up 0.88%), CG Power and Industrial Solutions (down 1%), Coromandel International (down 0.80%), KFin Technologies (down 1.63%), LT Foods (up 0.45%), Motilal Oswal Financial Services (down 1.48%), Tatva Chintan Pharma (up 1.36%), Ujjivan Small Finance Bank (up 0.21%), UTI Asset Management Company (down 1.64%) will declare their result later today.

Stocks in Spotlight:

CMS Info Systems declined 2.09% after the companys consolidated net profit dropped 4.08% to Rs 93.58 crore on a 1.35% rise in revenue to Rs 627.41 crore in Q1 FY26 over Q4 FY25.

BEML rose 0.96%. The company announced that it had secured an order worth Rs 293.82 crore from the Ministry of Defence for the supply of HMV 6X6 vehicles.

Force Motors soared 18.71% after the company reported a 52.4% jump in consolidated net profit to Rs 176.33 crore in Q1 FY26 compared with Rs 115.70 crore in Q1 FY25. Net sales increased 21.9% YoY to Rs 2297.25 crore in Q1 June 2025.

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