The key equity indices traded near the flat line with some negative points in mid-morning trade, weighed down by persistent global tariff concerns that continued to dampen investor sentiment. The Nifty hovered below the 23,350 mark. IT shares declined after advancing in the past two trading sessions.
At 11:28 IST, the barometer index, the S&P BSE Sensex, declined 39.69 points or 0.05% to 76,695.20. The Nifty 50 index fell 0.87 points or 0.01% to 23,326.85.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index advanced 0.46% and the S&P BSE Small-Cap index rallied 0.79%.
The market breadth was strong. On the BSE, 2,488 shares rose and 1,160 shares fell. A total of 192 shares were unchanged.
Buzzing Index:
The Nifty IT index fell 0.54% to 33,096.15. The index added 1.78% in two consecutive trading sessions.
Infosys (down 1.49%), Tech Mahindra (down 0.94%), Coforge (down 0.77%), LTIMindtree (down 0.69%), Mphasis (down 0.63%), HCL Technologies (down 0.56%), Persistent Systems (down 0.48%) declined.
On the other hand, Oracle Financial Services Software (up 0.43%) ,Tata Consultancy Services (up 0.03%) edged higher.
Stocks in Spotlight:
ICICI Prudential Life Insurance Company rallied 3.99% after the reported 122.31% surge in standalone net profit to Rs 386.29 crore in Q4 FY25 as against Rs 173.76 crore posted in Q4 FY24.
Hind Rectifiers rose 0.89%. The company announced that it has incorporated wholly-owned subsidiary in the name of Coincade Studios on 15 April 2025.
Mahanagar Gas (MGL) fell 4.27% after disclosing a significant cut in its allocation of APM (Administered Price Mechanism) natural gas.
Global Markets:
Dow Jones futures are down 300 points, indicating a drop in US stocks today.
Most Asian stocks fell on Wednesday after Wall Street declined overnight as investors assessed quarterly earnings, while tariff worries continued to weigh on investor sentiment.
China's economy expanded by 5.4% year-on-year in the first quarter, surpassing expectations. March retail sales rose 5.9%, while industrial production grew by 7.7% compared to the same period last year. Fixed asset investment increased by 4.2% in the January–March period. The urban unemployment rate fell to 5.2% in March, easing from 5.4% in February.
In the United States, the three major stock indexes closed lower on Tuesday. The Dow Jones Industrial Average declined 0.38%, the S&P 500 fell 0.17%, and the Nasdaq Composite edged down 0.05%. The losses came after consecutive sessions of gains, amid fading optimism over temporary relief from tariffs and uncertainty surrounding future trade policy under President Donald Trump.
NVIDIA Corporation slid 6% in aftermarket trade after the artificial intelligence major said the government had further restricted exports of its H20 chips to China.
Anticipation of more first-quarter earnings, as well as more cues on the U.S. economy, also kept risk appetite in check.