Benchmark stock market indices broke its 3-day winning streak to end 1% lower as IT stocks dragged Dalal Street. The major laggard was HCLTech which ended the day sinking nearly 11% over timid Q4 results.
The S&P BSE Sensex tanked 756.84 points to close at 78,516.49, while the NSE Nifty50 lost 198.50 points to end at 24,378.10.
Vinod Nair, Head of Research, Geojit Investments Limited, said that global markets remained in a risk-off mode despite the ceasefire extension, as uncertainty around US–Iran talks and ongoing shipping disruptions kept investors cautious.
“The rebound in crude prices to ~$100/bbl, coupled with persistent geopolitical uncertainty, led investors to book profits after the equity market’s sharp ~10% rise from recent lows,” he added.
After the closing bell, Hindustan Unilever Ltd led the Sensex gainers, rising 2.56%. It was followed by NTPC Ltd, which gained 2.40%. Eternal Ltd moved up 1.39%, while Trent Ltd added 0.96%. UltraTech Cement Ltd also ended higher, rising 0.94%.
HCL Technologies Ltd saw the sharpest fall, dropping 10.85%. Infosys Ltd declined 3.40%, Mahindra and Mahindra Ltd was down 2.99%, Tata Consultancy Services Ltd slipped 2.80%, and Tech Mahindra Ltd fell 2.50% at the close.
“The Nifty IT index lagged on cautious commentary and conservative FY27 guidance, reflecting weak discretionary demand and near-term visibility concerns. Nonetheless, the broader market showed resilience, supported by valuation comfort and selective buying at lower levels,” said Nair.
