Sensex sheds 345 pts, Nifty below 25,400 as IT stocks fall ahead of TCS Q1 results
The BSE Sensex closed at 83,190.28, down 345.80 points or 0.41 per cent. The NSE Nifty fell 120.85 points, or 0.47 per cent, to close at 25,355.25.
- Jul 10, 2025,
- Updated Jul 10, 2025 4:45 PM IST
Indian benchmark indices Sensex and Nifty fell on Thursday, ahead of the kick-start of the June quarterly earnings season. Tata Consultancy Services, India's largest IT services provider, was scheduled to release its quarterly results by the end of today.
The BSE Sensex closed at 83,190.28, down 345.80 points or 0.41 per cent. The NSE Nifty fell 120.85 points, or 0.47 per cent, to close at 25,355.25.
The market will react to TCS’s earnings in early trade, with a keen eye on management commentary, which could set the initial tone,said Ajit Mishra – SVP, Research at Religare Broking. “With the Nifty now hovering near its immediate and crucial support zone—marked by the 20-day exponential moving average (20-DEMA) and the upper boundary of its previous consolidation range around the 25,200–25,300 zone—it will be critical for the index to hold this level to maintain its positive bias. That said, with the earnings season underway, stock-specific opportunities are likely to emerge on both sides, so participants should align their positions accordingly." Mishra said.
Bharti Airtel fell 2.62 per cent to Rs 1965.10 and led the losers at the Sensex. It was followed by Asian Paints, Infosys, Bharat Electronics and Tech Mahindra, which declined up to 1.9 per cent.
Bharti Airtel, HDFC Bank, Infosys and ICICI Bank contributed most to the Sensex's decline.
TCS dropped 0.06 per cent to Rs 3,382.30 ahead of its quarterly result. So far in 2025, the company has delivered a negative return of 18 per cent, which is worse than its peer Infosys' 14.32 per cent decline for the quarter.
Vinod Nair, Head of Research, Geojit Investments said benchmark indices fell today, weighed down by weakness in IT stocks ahead of TCS’s Q1 results.
Investor sentiment, he said, remains cautious ahead of the Q1 results in anticipation of a muted start to the season from the IT and finance sectors.
“However, the recent consolidation in the IT stocks largely factors in the muted outlook, limiting further worries. Meanwhile, mid- and small-caps had limited negative action, reflecting a wait-and-watch approach amid rising expectation of a better earnings outlook compared to large caps,” he said.
HCL Technologies fell 0.64 per cent to Rs 1,663.35, even as the multinational technology company teamed up with Astemo Cypremos, a software and cloud services subsidiary of Astemo, to promote innovation in the ecosystem of autonomous and smart vehicles.
Infosys shares closed at Rs 1616.75 on the BSE, down 1.05 per cent, amid negative market sentiment. The stock is currently among the top losers on the Sensex.
On the BSE Sensex, 4,161 stocks traded today, of which 1,959 saw advances, 2,064 saw declines, and 138 remained unchanged. The total number of stocks that reached the upper and lower circuits was 3 and 6, respectively.
Indian benchmark indices Sensex and Nifty fell on Thursday, ahead of the kick-start of the June quarterly earnings season. Tata Consultancy Services, India's largest IT services provider, was scheduled to release its quarterly results by the end of today.
The BSE Sensex closed at 83,190.28, down 345.80 points or 0.41 per cent. The NSE Nifty fell 120.85 points, or 0.47 per cent, to close at 25,355.25.
The market will react to TCS’s earnings in early trade, with a keen eye on management commentary, which could set the initial tone,said Ajit Mishra – SVP, Research at Religare Broking. “With the Nifty now hovering near its immediate and crucial support zone—marked by the 20-day exponential moving average (20-DEMA) and the upper boundary of its previous consolidation range around the 25,200–25,300 zone—it will be critical for the index to hold this level to maintain its positive bias. That said, with the earnings season underway, stock-specific opportunities are likely to emerge on both sides, so participants should align their positions accordingly." Mishra said.
Bharti Airtel fell 2.62 per cent to Rs 1965.10 and led the losers at the Sensex. It was followed by Asian Paints, Infosys, Bharat Electronics and Tech Mahindra, which declined up to 1.9 per cent.
Bharti Airtel, HDFC Bank, Infosys and ICICI Bank contributed most to the Sensex's decline.
TCS dropped 0.06 per cent to Rs 3,382.30 ahead of its quarterly result. So far in 2025, the company has delivered a negative return of 18 per cent, which is worse than its peer Infosys' 14.32 per cent decline for the quarter.
Vinod Nair, Head of Research, Geojit Investments said benchmark indices fell today, weighed down by weakness in IT stocks ahead of TCS’s Q1 results.
Investor sentiment, he said, remains cautious ahead of the Q1 results in anticipation of a muted start to the season from the IT and finance sectors.
“However, the recent consolidation in the IT stocks largely factors in the muted outlook, limiting further worries. Meanwhile, mid- and small-caps had limited negative action, reflecting a wait-and-watch approach amid rising expectation of a better earnings outlook compared to large caps,” he said.
HCL Technologies fell 0.64 per cent to Rs 1,663.35, even as the multinational technology company teamed up with Astemo Cypremos, a software and cloud services subsidiary of Astemo, to promote innovation in the ecosystem of autonomous and smart vehicles.
Infosys shares closed at Rs 1616.75 on the BSE, down 1.05 per cent, amid negative market sentiment. The stock is currently among the top losers on the Sensex.
On the BSE Sensex, 4,161 stocks traded today, of which 1,959 saw advances, 2,064 saw declines, and 138 remained unchanged. The total number of stocks that reached the upper and lower circuits was 3 and 6, respectively.