Nifty below 24,600 level; IT shares decline
The key equity benchmarks continued to trade with modest losses in early trade. The Nifty traded below the 24,600 level. IT stocks slipped in early trade, pausing after gains in the previous session. Market volatility was heightened due to the weekly expiry of the Nifty F&O series today.
At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 368.02 points or 0.45% to 80,962.54. The Nifty 50 index slipped 101.50 points or 0.41% to 24,566.70.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.29% and the S&P BSE Small-Cap index added 0.76%.
The market breadth was strong. On the BSE, 2,315 shares rose and 1,142 shares fell. A total of 202 shares were unchanged.
Buzzing Index:
The Nifty IT index fell 0.74% to 37,573.75. The index rose 1.34% in the past trading session.
Persistent Systems (down 2.14%), LTIMindtree (down 1.15%), Infosys (down 1.09%), Coforge (down 0.65%), Wipro (down 0.65%), Tata Consultancy Services (down 0.63%), HCL Technologies (down 0.45%), Mphasis (down 0.15%) and Oracle Financial Services Software (down 0.08%) fell.
On the other hand, Tech Mahindra (up 0.18%) edged higher.
Result Today
Abbott India (up 0.14%), Allied Blenders and Distillers (up 1.59%), Alivus Life Sciences (up 1.07%), Arvind (down 0.97%), Balrampur Chini Mills (up 1.25%), Bombay Burmah Trading Corporation (up 0.35%), Bikaji Foods International (up 0.82%), BLS International Services (up 0.55%), Caplin Point Laboratories (down 0.22%), CESC (down 2.29%), Cochin Shipyard (up 2.89%), Crompton Greaves Consumer Electricals (down 1.36%), Godfrey Phillips (up 0.97%), JSW Energy (up 1.96%), LIC Housing Finance (up 0.62%), P N Gadgil Jewellers (up 0.99%), Solara Active Pharma (up 1.28%), Welspun Enterprises (up 3.36%), Allied Blenders and Distillers (up 1.86%), Bikaji Foods International (up 0.67%), BLS International (up 0.95%) will announced their quarterly earnings later today.
Stocks in Spotlight:
Tilaknagar Industries zoomed 9.37% after the company reported a 145.9% surge in consolidated net profit to Rs 77.35 crore on a 13.1% increase in revenue from operations (excluding excise duty) to Rs 405.81 crore in Q4 FY25 over Q4 FY24.
Dollar Industries tanked 4.14% after the companys consolidated net profit tumbled 13.74% to Rs 29.24 crore in Q4 FY25, compared with Rs 33.90 crore in Q4 FY24. However, total income jumped 9.73% year on year to Rs 550.91 crore in Q4 FY25.
Agi Greenpac fell 1.62%. The company reported a 50% rise in consolidated net profit to Rs 97 crore in Q4 FY25 from Rs 65 crore in Q4 FY24. Consolidated revenue grew by 13% year-over-year (YoY) to Rs 705 crore during the fourth quarter.
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