The domestic equity benchmarks traded sideways in the morning trade as sharp selling in IT stocks weighed on sentiment following an overnight technology-led rout in U.S. markets. The weakness was compounded by profit-booking after the previous session's strong India'US trade deal'driven rally, while escalating geopolitical tensions between the U.S. and Iran further dampened risk appetite and kept investors cautious. The Nifty traded above the 25,700 level, while IT shares tanked after advancing for previous trading session.
At 10:28 ST, the barometer index, the S&P BSE Sensex, shed 64.03 points or 0.08% to 83,677.57. The Nifty 50 index added 14.15 points or 0.05% to 25,741.70.
The broader market outperformed the frontline indices.The S&P BSE 150 MidCap Index rallied 0.19% and the S&P BSE 250 SmallCap Index jumped 0.13%.
The market breadth was strong. On the BSE, 2,439 shares rose and 1,259 shares fell. A total of 188 shares were unchanged.
Earnings to Watch:
Archean Chemical Industries, Apollo Tyres, Aptus Value Housing Finance India, Aurionpro Solutions, Automotive Axles, Avalon Technologies, Bajaj Finserv, Bajaj Holdings & Investment, Carysil, CCL Products (India), Century Plyboards (India), Cera Sanitaryware, Cummins India, Devyani International, Emami, Emcure Pharmaceuticals, Eureka Forbes, Force Motors, Gallantt Ispat, Greenply Industries, Hexaware Technologies, Inventurus Knowledge Solutions, Jain Irrigation Systems, Jaiprakash Power Ventures, JSW Cement, Jubilant Ingrevia, Kalpataru Projects International, Lloyds Engineering Works, Global Health, Metropolis Healthcare, NHPC, Parag Milk Foods, Apeejay Surrendra Park Hotels, Pokarna, Quality Power Electrical Equipments, Redington, RITES, Rane (Madras), Keystone Realtors, Saatvik Green Energy, Sammaan Capital, Shipping Corporation of India Land and Assets, Tata Power Company, Transport Corporation of India, TeamLease Services, Tube Investments of India, Timken India, Tamilnad Mercantile Bank, Trent, Welspun Enterprises, Westlife Foodworld, Wonderla Holidays and Xpro India will announce their quarterly earnings today.
RBI MPC:
The Reserve Bank's rate-setting panel will start its three-day meeting for the next bi-monthly monetary policy on Wednesday in the backdrop of growth-focused Union Budget, low inflation and more recently the long-awaited India-US trade deal ending prolonged uncertainty on the external front.
The decision of RBI Governor Sanjay Malhotra-headed six-member Monetary Policy Committee (MPC) will be announced on Friday.
Buzzing Index:
The Nifty IT index tanked 5.69% to 36,414.25. The index rallied 1.41% in the previous trading session.
IT stocks came under sharp pressure on Wednesday amid a global technology selloff after AI firm Anthropic unveiled new automation tools, stoking fears of AI-led disruption to traditional, licence-driven business models.
Infosys (down 6.07%), Persistent Systems (down 5.7%), LTIMindtree (down 5.67%), Coforge (down 5.48%) and Tata Consultancy Services (down 5.26%), HCL Technologies (down 4.64%), Mphasis (down 4.59%), Tech Mahindra (down 4.48%), Wipro (down 3.58%) and Oracle Financial Services Software (down 3.23%) declined.
Stocks in Spotlight:
Sterling Tools declined 3.11% after the company's consolidated net profit tumbled 88.5% to Rs 1.56 crore in Q3 FY26 as against Rs 13.60 crore posted in Q3 FY25. Revenue from operations fell 21.1% year-on-year to Rs 205.85 crore in the quarter ended 31 December 2025.
Time Technoplast added 1.31% after the company's subsidiary PowerBuild Batteries announced a business collaboration and exclusive distribution agreement with Monbat AD, a leading European battery manufacturer based in Bulgaria.
Bajaj Finance shed 0.21%. The company reported 6.33% decline in consolidated net profit to Rs 3,977.85 crore in Q3 FY26 compared with Rs 4,246.54 crore in Q3 FY25. Total revenue from operations jumped 17.63% YoY to Rs 21,213.89 crore in Q3 FY26.
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