IT, private bank and auto shares declined while FMCG, media and realty shares advanced.
As per provisional closing data, the barometer index, the S&P BSE Sensex declined 756.84 points or 0.95% to 78,516.49. The Nifty 50 index slumped 198.50 points or 0.81% to 24,378.10. In the past three consecutive trading sessions, the Sensex and Nifty jumped 1.65% and 1.57% respectively.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.29% and the BSE 250 SmallCap Index jumped 0.90%.
The market breadth was positive. On the BSE, 2,452 shares rose and 1,823 shares fell. A total of 157 shares were unchanged.
The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, rallied 3.77% to 18.20.
In the commodities market, Brent crude for June 2026 settlement surged $1.21 or 1.23% to $99.69 a barrel.
Economy:
The credit rating agency, Moody has lowered Indias FY27 GDP growth forecast to 6% from 6.8%. The downgrade reflects weak consumption, slower industrial output and rising energy costs due to West Asia tensions. Higher oil and gas prices may increase import bills and push up inflation. Indias dependence on Middle East energy and fertiliser imports adds to the risk. Elevated costs could hurt margins of sectors like aviation, cement and chemicals. The government may also face pressure on subsidies and fiscal balance. However, strong forex reserves, resilient services exports and ongoing infrastructure spending are expected to provide some support.
Buzzing Index:
The Nifty IT index declined 0.85% to 30,496.25. The index jumped 0.45% in the past trading session. The index slumped after weak Q4 results and cautious guidance from HCL Technologies raised concerns over demand in the sector.
The selloff followed HCL Tech’s FY27 revenue growth guidance of 1% to 4% in constant currency, which came below market expectations. The company cited weak discretionary spending, delays in client decision-making and project ramp-downs.
HCL Technologies (down 10.95%), Persistent Systems (down 4.99%), Coforge (down 4.49%), Mphasis (down 3.75%), Infosys (down 3.4%), LTM (down 3.31%), Tata Consultancy Services (down 2.8%), Tech Mahindra (down 2.51%), Wipro (down 0.47%) declined.
HCL Technologies tumbled 10.95% after the company reported 6.4% fall in consolidated net income to Rs 4,488 crore as revenues rose by 0.3% to Rs 33,981 crore in Q4 FY26 as compared with Q3 FY26.
Persistent Systems declined 4.99%. The company reported a 20.43% sequential increase in consolidated net profit to Rs 529.26 crore in Q4 FY26, compared with Rs 439.45 crore in Q3 FY26. Revenue from operations increased 7.35% quarter-on-quarter to Rs 4,055.94 crore for the quarter ended 31 March 2026. Meanwhile, the companys board has recommended a final dividend of Rs 18 per equity share of face value Rs 5 for the financial year 202526.
Tech Mahindra fell 2.51%. The company reported a steady Q4 FY26 performance, supported by strong deal momentum. On a consolidated basis, profit after tax rose 16.0% YoY to Rs 1,353.8 crore in Q4 FY26, compared with Rs 1,166.7 crore in Q4 FY25. On a sequential basis, PAT increased 20.6% from Rs 1,122.0 crore in Q3 FY26. Revenue came in at Rs 15,076.1 crore, up 12.6% YoY and 4.7% QoQ, versus Rs 13,384.0 crore a year ago and Rs 14,393.2 crore in the previous quarter.
Stocks in Spotlight:
Cyient DLM jumped 4.78% after reporting strong Q4 FY26 results, with net profit surging 99.82% quarter-on-quarter (QoQ) to Rs 22.44 crore from Rs 11.23 crore in Q3, reflecting sharp sequential improvement in profitability. Revenue from operations jumped 21.66% QoQ to Rs 369.08 crore in the quarter ended 31 March 2026.
Transformers & Rectifiers India declined 7.10% after the companys consolidated net profit declined 5.2% to Rs 89.28 crore despite 15.7% increase in revenue from operations to Rs 782.67 crore in Q4 FY26 over Q4 FY25.
Tata Elxsi fell 6.19%. The company reported a 27.8% increase in net profit to Rs 220.35 crore in Q4 FY26, compared with Rs 172.42 crore posted in Q4 FY25. Revenue from operations increased 9.4% to Rs 993.75 crore in the quarter ended 31 March 2026, compared with Rs 908.34 crore recorded in the corresponding quarter last year.
Tata Investment Corporation rose 0.69% after the company reported 69.2% increase in consolidated net profit to Rs 63.83 crore on a 51.9% rise in total income to Rs 69.62 crore in Q4 FY26 as compared with Q4 FY25.
Larsen & Toubro slipped 1.32%. The company announced that its wholly-owned subsidiary L&T Energy GreenTech (LTEGL) has entered into a long-term partnership with Japans ITOCHU Corporation for the supply of green ammonia.
Lupin shed 0.51%. The company announced the launch of Dapagliflozin and Metformin Hydrochloride extended-release tablets in the U.S., in strengths of 5 mg/500 mg, 5 mg/1,000 mg, 10 mg/500 mg, and 10 mg/1,000 mg, following approval from the U.S. FDA.
HDFC Life Insurance Company fell 1.65%. The company said that it has approved the reappointment of Vibha Padalkar as the managing director (MD) & chief executive officer (CEO) of the company for a period of 5 (five) years with effect from 12 September 2026.
Central Mine Planning & Design Institute declined 3.40% after the company reported 32.2% drop in net profit to Rs 187.82 crore despite a 11.7% increase in net sales to Rs 826.88 crore in Q4 FY26 as compared with Q4 FY25.
360 ONE WAM slipped 4.31%, The companys consolidated net profit increased 15.68% to Rs 288.74 crore, driven by a 27.30% rise in revenue from operations to Rs 1,115.4 crore in Q4 FY26 compared with Q4 FY25.
Ajanta Pharma shed 0.18%. The company said the United States Food and Drug Administration (USFDA) has completed an inspection at its Paithan manufacturing facility in Maharashtra, conducted between 13 April and 21 April 2026.
Advait Energy Transitions jumped 2.20% after the company received an order worth Rs 27.74 crore from Power Transmission Corporation of Uttarakhand (PTCUL).
Global Markets:
The Dow Jones index futures were up 261 points, indicating a positive opening in the US stocks today.
European market declined after the U.K.s first inflation reading covering the period since the Iran war began was released on Wednesday. The countrys annual inflation rate rose to 3.3% in March from 3.0% in the previous month, official data showed, with higher fuel costs contributing to the increase in prices.
Asian markets ended mixed on Wednesday as traders assessed the Iran ceasefire extension and the prospect of further peace talks.
“Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal, Trump reportedly said in a social media post.
He added that the ceasefire would be extended until Tehran submitted a proposal or discussions were concluded, and that the U.S. military would continue its blockade of Iranian ports.
However, the timeline remains uncertain. Negotiators from Tehran said they wouldnt attend the talks with the U.S., calling them a waste of time, Iranian state media reported on Wednesday.
The uncertainty also delayed Vice President JD Vances trip to join peace talks, according to media reports.
Meanwhile, Japans Nikkei 225 rose to a new record of 59,691 following the release of its latest trade data. The countrys exports rose for a seventh straight month, posting a trade surplus of 667 billion yen ($4.18 billion) in March, compared with a surplus of 1.1 trillion yen widely reported forecast.
Overnight on Wall Street, stocks dropped on Tuesday as investors grew concerned that a peace deal between the U.S. and Iran would not be struck ahead of a ceasefire thats set to expire Wednesday.
The S&P 500 closed down 0.63% at 7,064.01, while the Nasdaq Composite settled 0.59% lower at 24,259.96. The Dow Jones Industrial Average shed 293.18 points, or 0.59%, to finish at 49,149.38.
