Wipro Opening Bell Updates: Share Price Hits New 52-Week Low Amid Nifty Exit

Wipro closed yesterday's session at ₹166.40, opening slightly higher today at ₹166.90. However, early trade has seen the stock dip to an intraday low of ₹164.40, pushing its Live Traded Price (LTP) to ₹164.78. This decline signifies a -0.97% change, indicating a cautious to negative sentiment as the market digests recent developments and broader sector performance. Notably, the current trading action has seen Wipro hit a new 52-week low.

Overnight & Global Cues

Global market cues present a mixed picture for Indian equities. US markets concluded Thursday's session on a positive note, with the Dow rising 0.61%, the S&P 500 gaining 1.14%, and the Nasdaq Composite advancing 1.69%, largely driven by chipmakers. However, US stock futures were reported as steady to mixed on Friday morning. Across Asia, early Friday trade saw markets generally higher, with Japan's Nikkei 225 gaining over 0.5% and South Korea's KOSPI advancing more than 2%. On the macroeconomic front, crude oil prices are easing from their recent peaks but remain elevated near the $100-a-barrel mark, which continues to be a point of concern for India.

Institutional investor activity showed Foreign Institutional Investors (FIIs) as net sellers, offloading ₹4,703 crore in the previous session. Domestic Institutional Investors (DIIs) provided crucial support, with net buying of ₹5,869 crore. The broader Indian IT sector continues to face headwinds from a demand slowdown in Western markets, where clients are prioritizing cost optimization over new digital transformation projects. Generative AI, while offering an enormous new market, is also disrupting traditional services and impacting hiring. However, reports suggest an expected sharp recovery in the sector beginning 2026, fueled by accelerating demand for AI services.

Recent Developments

Wipro has been in the spotlight due to several key announcements. A significant development is the company's impending exit from India's benchmark Nifty 50 index, effective September 30, 2026. This change is expected to trigger adjustments by index-tracking funds. On a more positive note, Wipro announced an enhanced partnership with Google Cloud on September 15, 2026, aimed at deeper enterprise integration of Gemini Enterprise and agentic AI. As part of this collaboration, Wipro plans to train over ten thousand professionals in AI. Furthermore, Wipro allotted equity shares under its ESOP/ESPS plans on September 17, 2026. The company also recently renewed its long-standing Digital Workplace Services contract with ABB earlier in September.

Analyst sentiment has been cautious. Morgan Stanley, in June 2026, maintained a price target of INR 161 for Wipro, anticipating the company might lag its peers in sequential revenue growth due to client-specific challenges in the banking, financial services, and technology verticals. Wipro's Q1 FY27 (June 2026 quarter) results showed net income marginally up by 0.6%, but revenue and profitability were impacted by weak discretionary spending and a challenging macroeconomic environment.

Key Levels to Watch

Wipro's previous close was ₹166.40, with today's open at ₹166.90. The stock has demonstrated early weakness, recording an intraday low of ₹164.40, which now marks a new 52-week low, surpassing the previous 52-week low of ₹165.02. Immediate support for the stock could be around the ₹164.00-₹163.97 level. On the upside, initial resistance may be encountered near the ₹166.90 mark (today's open) and subsequently around its previous close of ₹166.40. The 52-week high for Wipro stands at ₹273.10.

Opening Outlook

As the session unfolds, traders will be closely monitoring Wipro's ability to recover from its new 52-week low. The interplay of its Nifty 50 index exit, set for month-end, and the strategic push into AI through partnerships like Google Cloud will likely shape investor perception. The broader IT sector's performance, influenced by global demand and the ongoing shift towards AI-led services, will also be critical. FII and DII flows will provide further directional cues, with sustained DII support potentially offsetting FII selling pressure. Volatility is expected, and a close watch on the prevailing macroeconomic environment, especially crude oil prices, and global market sentiment will be essential.

Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.

(The above story first appeared on LatestLY on Sep 18, 2026 09:45 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).