At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 275.21 points or 0.35% to 77,355.89. The Nifty 50 index fell 107.35 points or 0.46% to 23,419.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.49% and the S&P BSE Small-Cap index slipped 1.98%.

The market breadth was weak. On the BSE, 608 shares rose and 2,987 shares fell. A total of 134 shares were unchanged.

Result Today:

CESC (down 2.3%), Equinox India (down 1.26%), PCBL (down 2.40%), GNA Axles (down 3.03%), Just Dial (down 2.69%), Shah Metacorp (down 3.19%) and Swati Projects (down 5%) will announce their quarterly earnings later today.

Buzzing Index:

The Nifty IT index rallied 2.16% to 44,055.90. The index rose 0.97% in the previous trading session.

Tata Consultancy Services (up 3.75%), LTIMindtree (up 2.07%), Tech Mahindra (up 2.02%), Wipro (up 1.23%), Infosys (up 1.06%), Mphasis (up 0.76%), Persistent Systems (up 0.59%), HCL Technologies (up 0.32%) and Coforge (up 0.04%) advanced.

On the other hand, L&T Technology Services (down 0.86%) edged lower.

Tata Consultancy Services (TCS) rallied 4.95% after the company reported a 3.95% increase in consolidated net profit to Rs 12,380 crore in Q3 FY25 as compared with Rs 11,909 crore in Q2 FY25.

Stocks in Spotlight:

GTPL Hathway tumbled 8.32% after the company’s consolidated net profit slipped 57.03% to Rs 10.17 crore in Q3 FY25 as compared with Rs 23.67 crore in Q3 FY24.

Indian Renewable Energy Development Agency (IREDA) declined 2.69%. The company’s standalone net profit jumped 27% to Rs 425 crore on a 36% increase in revenue from operations to Rs 1,698 crore in Q3 FY25 over Q3 FY24.

Tata Elxsi tumbled 6.76% after the design-led technology service provider reported a 3.59% decline in net profit to Rs 199 crore on a 2.72% increase in revenue from operations to Rs 939.17 crore in Q3 FY25 over Q3 FY24.