Mid-day Trade: Sensex falls 648 points, Nifty below 25,200 as TCS drags IT; Glenmark hits 10% upper circuit
Published on 11/07/2025 01:18 PM
Indian benchmark indices remained under pressure in Friday’s intraday session, with weak sentiment across IT and auto stocks weighing on the markets. At 1 PM, the BSE Sensex dropped 648 points or 0.78 per cent to 82,541, while the Nifty50 slipped 191 points or 0.75 per cent to 25,164.
The market downturn was led by TCS, which declined over 2 per cent after reporting muted Q1 FY26 results, disappointing investors on constant currency growth. Broader markets mirrored the weakness, with the Nifty MidCap index down 0.9 per cent and the Nifty SmallCap index lower by 1 per cent.
Nifty IT index tumbled 1.6 per cent amid post-earnings pressure on TCS and weakness in Infosys and Tech Mahindra
Nifty Auto fell 1.24 per cent
Nifty Pharma and Nifty FMCG gained 0.81 per cent each, offering some support
Laggards: TCS, Infosys, Tech Mahindra, M&M, Bajaj Finserv, Trent, RIL, HDFC Bank, Bharti AirtelGainers: HUL, NTPC, Power Grid, Axis Bank, Adani Ports
1) Glenmark Pharmaceuticals soared 10 per cent, hitting a 52-week high, after striking a $1.93 billion licensing deal with AbbVie for its oncology drug ISB 2001.
2) TCS slipped post Q1 results, as revenue grew only 1.3 per cent YoY to Rs 63,437 crore, with a 3.1 per cent YoY decline in constant currency terms.
3) HUL jumped 4 per cent after naming Priya Nair as its new MD & CEO, effective August 1.
4) IREDA declined 5 per cent following a 36 per cent drop in Q1 net profit.
5) Tata Elxsi plunged 7 per cent intraday after a weak quarterly showing.
Market sentiment remains cautious ahead of more Q1 results and global cues. Stay tuned for the closing bell report.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.