The headline equity benchmarks traded near the flatline with negative points in morning trade as investors stayed cautious ahead of the U.S. Federal Reserve’s meeting, where it is expected to cut interest rates. Market mood was also supported by hopes of progress in trade talks between India and the U.S.
The Nifty traded below the 25,100 level. IT stocks declined after gaining in the previous trading session.
At 10:30 ST, the barometer index, the S&P BSE Sensex, fell 38.33 points or 0.05% to 81,876.04. The Nifty 50 index shed 24.05 points or 0.01% to 25,089.95.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.18% and the S&P BSE Small-Cap index added 0.49%.
The market breadth was strong. On the BSE, 2,294 shares rose and 1,498 shares fell. A total of 250 shares were unchanged.
Buzzing Index:
The Nifty IT index fell 0.99% to 35,752.60. The index added 0.30% in the previous trading session.
Infosys (down 1.13%), Persistent Systems (down 0.91%), Coforge (down 0.87%), Tech Mahindra (down 0.74%) and HCL Technologies (down 0.67%), Tata Consultancy Services (down 0.67%), Mphasis (down 0.49%), Wipro (down 0.46%), Oracle Financial Services Software (down 0.4%) and LTIMindtree (down 0.16%) added.
Stocks in Spotlight:
Shreeji Shipping Global advanced 1.61% after the company’s consolidated net profit jumped 49.7% to Rs 37.21 crore on 23.9% increase in revenue from operations to Rs 161.19 crore in Q1 FY26 over Q1 FY25.
Classic Electrodes (India) rose 5.67% after the company secured an order worth Rs 17.03 crore from Srinchal Fabricators for the supply of MIG wires of various grades and sizes, as well as MS electrodes of different sizes.
Vikram Solar added 1.44% after the company announced a major order win of 200 MW high-efficiency solar modules from AB Energia, a specialist in end-to-end EPC solutions for commercial and industrial (C&I) solar projects.