Sensex falls over 200 pts, Nifty below 24,750 as IT stocks drag on tariff worries
Kotak Mahindra Bank
dampened investor sentiment.
The BSE Sensex was down 219 points, or 0.27%, at 81,243, while the Nifty50 slipped 95 points, or 0.38%, to 24,736 around 9:25 am.
From the Sensex pack, Kotak Mahindra Bank,
Infosys
,
TCS
,
Bharti Airtel
,
HCL Tech
, and
Bajaj Finance
were among the top laggards, falling up to 5.5%. In contrast,
Tata Motors
,
Bajaj Finserv
,
UltraTech Cement
,
ICICI Bank
, and
Tata Steel
opened with gains.
Kotak Mahindra Bank dropped 5.5% after the private lender reported a decline in first-quarter profit on Saturday, as higher provisions for potential bad loans and a contraction in lending margins weighed on performance.
Meanwhile, heavyweight TCS fell nearly 1.5% in early trade after the company announced plans to reduce its workforce by 2%, roughly 12,200 employees, in FY26. The move comes as TCS adopts AI technologies, expands into new markets, and navigates an uncertain demand environment.
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On the sectoral front, Nifty Realty dropped 2.3%, weighed down by losses in Lodha, Prestige, and
Oberoi Realty
. The Nifty Private Bank index also declined 1.1%, led by a sharp fall in Kotak Mahindra Bank. In the broader market, the Nifty Midcap 100 edged up 0.2%, while the Nifty Smallcap 100 slipped 0.1%.
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