On Thursday, the Indian stock market ended in the red, with benchmark indices dragged down by a slump in IT shares, as investors grew cautious ahead of Q1 earnings reports.
The S&P BSE Sensex slipped by 345.80 points, closing at 83,190.28, while the NSE Nifty50 dropped 120.85 points to settle at 25,355.25. The fall was largely attributed to weak sentiment surrounding the IT sector, with expectations running low for the upcoming quarterly numbers.
Vinod Nair, Head of Research at Geojit Financial Services, summed it up:
“Equities concluded the day in the red, weighed down by weakness in IT stocks ahead of TCS’s Q1 results. Investor sentiment remains cautious in anticipation of a muted start to the season from both IT and finance sectors. However, recent consolidation in IT stocks has already priced in much of the downside.”
Among major laggards, Bharti Airtel dropped 2.62%, Asian Paints fell 1.92%, and Infosys, Tech Mahindra, and Bharti Airtel (again reported due to index weightage) all ended lower.
The broader market mirrored the trend:
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Nifty Midcap 100: -0.30%
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Nifty Smallcap 100: -0.27%
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India VIX: -2.24% (signaling lower volatility expectations)
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Nifty Realty (+0.72%)
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Nifty Pharma (+0.59%)
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Nifty Metal (+0.42%)
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Nifty Consumer Durables (+0.11%)
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Nifty Oil & Gas (+0.03%)
📉 Losers:
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Nifty PSU Bank (-0.80%)
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Nifty IT (-0.79%)
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Nifty FMCG (-0.57%)
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Nifty Private Bank (-0.48%)
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Nifty Healthcare (-0.56%)
Looking ahead, Rupak De, Senior Technical Analyst at LKP Securities, warned of near-term weakness:
“The short-term trend appears weak. If the decline continues, support is expected around 25,250–25,200, with resistance likely near 25,400–25,500.”
With big names like TCS set to announce results soon, investors will be watching closely to see if early fears about Q1 earnings materialize—or if the market has already priced in the worst.
