The key equity benchmarks traded with modest cuts in the morning trade. The Nifty traded below the 25,250 mark. IT shares witnessed selling pressure for the third consecutive trading session.
At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 461.09 points or 0.55% to 82,729.19. The Nifty 50 index lost 136.95 points or 0.54% to 25,218.70.
In the broader market, the S&P BSE Mid-Cap index fell 0.62% and the S&P BSE Small-Cap index shed 0.53%.
The market breadth was negative. On the BSE, 1,512 shares rose and 1,996 shares fell. A total of 205 shares were unchanged.
Earnings Today:
Avenue Supermart (down 0.40%) and Elecon Engineering (down 1.16%) will announce their quarterly earnings later today.
Buzzing Index:
The Nifty IT index fell 1.58% to 37,771.60. The index dropped 3.11% in the three consecutive trading sessions.
Tata Consultancy Services (down 2.18%), Wipro (down 1.96%), LTIMindtree (down 1.68%), HCL Technologies (down 1.05%), Persistent Systems (down 0.96%), Infosys (down 0.93%), Coforge (down 0.79%), Tech Mahindra (down 0.61%), Oracle Financial Services Software (down 0.52%) and Mphasis (down 0.44%) fell.
Stocks in Spotlight:
Anand Rathi Wealth rallied 4.75% after the company reported a 27.8% jump in consolidated net profit to Rs 93.62 crore on a 15.8% increase in total income to Rs 284.26 crore in Q1 FY26 over Q1 FY25.
Enviro Infra Engineers advanced 9.44% after the company announced that it has secured a project from the Maharashtra Industrial Development Corporation (MIDC) aimed at pollution control of the Panchganga River worth Rs 400 crore.