Sensex plunges 690 pts, Nifty below 25,150; IT stocks hit hard

Indian benchmark indices Sensex and Nifty fell on Friday, led by weakness in the IT pack, thanks to a disappointing set of numbers by IT giant TCS. Uncertainty around tariff-related issues and mixed global cues contributed to the negative market sentiment.

The BSE Sensex closed the day at 82,500.47, down 689.81 points or 0.83 per cent. The NSE Nifty fell 205.40 points, or 0.81 per cent, to settle at 25,149.85. 

Ajit Mishra, SVP, Research at Religare Broking said the session began on a negative note following disappointing results from IT major TCS, which further worsened due to profit-taking in heavyweight stocks across other sectors. 

“On the sectoral front, all key indices ended in the red, except the defensives — FMCG and pharma. IT, auto, and realty were among the top losers. The broader indices also came under pressure, each declining by nearly a per cent,” Mishra said.

Mishra said the sentiment remained subdued due to ongoing uncertainty around tariff-related issues and a weak start to the earnings season. 

Nifty eventually slipped below its first line of defense—the 20-day exponential moving average (20-DEMA)—disrupting the ongoing positive trend, Mishra said. 

For the day, TCS fell 3.46 per cent to Rs 3265.40 and led the losers at the Sensex. It was followed by Mahindra & Mahindra, Bharti Airtel, Tata Motors and Titan, which declined up to 2.7 per cent. 

HDFC Bank, Reliance Industries, TCS and Bharti Airtel contributed most to the Sensex's decline. 

Vinod Nair, Head of Research, Geojit Investments Limited, said the domestic market experienced a negative close due to a sober start to Q1 earnings season and a ramp-up in the tariff threat by the US to impose a 35% tariff on Canada.

“Investors may continue to be focused on quarterly earnings for a buy-on-dips strategy; however, in the near term, the current premium valuation and the global headwinds like low spending & tariff uncertainties may restrain new inflows. The IT index underperformed due to deferment in orders and new investments, which may impact FY26 earnings estimates," Nair added.

On BSE, 4,165 stocks traded today, of which 1,551 advanced, 2,453 declined, and 161 remained unchanged.