Sensex, Nifty Extend Losses as IT Stocks Slide Post TCS Q1 FY26 Results

Mumbai, July 11 – Benchmark indices opened lower on Friday, continuing their downward trajectory as selling pressure intensified in IT stocks following Tata Consultancy Services’ (TCS) Q1 FY26 earnings announcement.

Market Opening Snapshot

The BSE Sensex fell 398.45 points to 82,791.83, while the NSE Nifty dropped 111.25 points to 25,244 in early trade.

Top Drags and Gainers

Prominent IT stocks traded in the red:

• TCS
• Infosys
• Tech Mahindra
• HCL Technologies
• Mahindra & Mahindra
• Bajaj Finserv

On the flip side, a few stocks provided some cushion to the indices:

• Hindustan Unilever
• Axis Bank
• NTPC
• Asian Paints

Sector Outlook and Global Cues

The IT sector’s performance remained under scrutiny after the mixed TCS results, highlighting the ongoing demand headwinds. Analysts noted a possible divergence in performance, with midcap IT firms expected to fare better compared to their large-cap counterparts.

Meanwhile, Asian markets traded higher, with gains in:

• South Korea’s Kospi
• Japan’s Nikkei 225
• China’s SSE Composite
• Hong Kong’s Hang Seng

In the US, markets closed on a positive note Thursday, offering a supportive global backdrop.

Other Market Indicators

• Brent crude oil gained 0.35% to USD 68.88 per barrel
• FIIs were net buyers, picking up equities worth ₹221.06 crore on Thursday

Previous Session Recap

On Thursday, the Sensex had closed 345.80 points lower at 83,190.28, while the Nifty had ended 120.85 points down at 25,355.25, ahead of TCS’s earnings announcement.

As the earnings season unfolds, investor sentiment remains cautious amid geopolitical uncertainty, inflation concerns, and the US Fed’s hawkish tone.

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