India News | Markets Trade Lower in Early Trade Dragged Down by IT Stocks

Mumbai, Apr 17 (PTI) Benchmark equity indices Sensex and Nifty declined in early trade on Thursday dragged down by IT stocks after Wipro warned of a weak quarter ahead amid global uncertainties.

The 30-share BSE benchmark Sensex declined 362 points to 76,682.29 in early trade. The NSE Nifty went down by 129.75 points to 23,307.45.

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From the Sensex firms, HCL Tech, Tata Steel, Tech Mahindra, Tata Consultancy Services, Larsen & Toubro and Titan were among the biggest laggards.

ICICI Bank, HDFC Bank, Bharti Airtel and State Bank of India were the gainers.

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Wipro on Wednesday reported a 25.9 per cent year-on-year rise in consolidated net profit for the March quarter to Rs 3,569.6 crore, but warned of a weak quarter ahead with up to 3.5 per cent expected drop in IT services revenue for Q1FY26, amid global uncertainties.

The stock of Wipro traded over 5 per cent lower.

In Asian markets, South Korea's Kospi index, Tokyo's Nikkei 225, Shanghai SSE Composite index and Hong Kong's Hang Seng were quoting higher.

US markets ended significantly lower on Wednesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 3,936.42 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.87 per cent USD 66.42 a barrel.

Defying a weak global market trend on Wednesday, the BSE Sensex climbed 309.40 points or 0.40 per cent to settle at a two-week high of 77,044.29 in a volatile session. The Nifty rallied 108.65 points or 0.47 per cent to 23,437.20.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)