Stock Market Opens Lower as IT, Telecom, Metal Stocks Drag Sensex, Nifty Down
Indian stock markets opened in the red on Thursday, with the BSE Sensex dropping 180 points to 76,970.81 and the NSE Nifty falling below 23,400, driven by sharp declines in IT, telecom, and metal stocks.
The S&P BSE Sensex shed 180.48 points, or 0.23%, to 76,970.81 at the opening bell, while the NSE Nifty50 declined 44.95 points, or 0.19%, to 23,401.10. Weak global cues and disappointing earnings guidance from IT major Wipro, which fell 5%, led the downturn. Posts on X reflected bearish sentiment, citing pressure from IT stocks and global headwinds.
“Markets are reacting to Wipro’s subdued outlook and broader concerns over IT sector earnings,” said Akshay Chinchalkar, Head of Research at Axis Securities. “Global trade tensions are also weighing on investor confidence.”
The Nifty IT index slumped 1.2%, with Wipro and Infosys among the top losers. Telecom stocks like Bharti Airtel and metal stocks such as Tata Steel also dragged the indices lower. In contrast, Nifty FMCG and Consumer Durables showed resilience, trading marginally in the green.
“IT stocks are under pressure due to earnings uncertainty,” noted Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. “Investors are cautious ahead of Infosys’ results.”
Global markets remained volatile after US President Donald Trump’s reciprocal tariffs, including a 26% duty on Indian goods, took effect on April 2. Asian markets like Japan’s Nikkei and China’s CSI 300 also faced selling pressure. The GIFT Nifty signaled a muted open, reflecting cautious sentiment.
“Trump’s tariffs are creating uncertainty, especially for export-oriented sectors like IT and metals,” said a Mumbai-based trader, requesting anonymity.
Indian markets have been turbulent since Trump’s tariff announcements, with the Sensex crashing over 2,200 points on April 7. A partial recovery followed, but concerns over global trade wars and domestic earnings persist. The Nifty has lost nearly 12% from its September highs, prompting investors to seek safer large-cap stocks
Investors await Infosys’ earnings report and the Reserve Bank of India’s Monetary Policy Committee announcement for further cues. Experts urge calm, advising long-term investors to focus on quality stocks. “Volatility is expected, but fundamentally strong companies offer opportunities,” Vijayakumar added.
