Markets came under heavy selling pressure on Thursday, extending the prevailing corrective trend and declining nearly one and a half percent. After a weak opening, the benchmark indices remained under pressure through most of the session and eventually settled close to the day’s lows, reflecting sustained selling pressure across the board. Analysts say Nifty has once again retested the April 2026 low of 22,182.55 after the marginal pullback, signalling further weakness in the prevailing structure. A decisive break below this level could open the door for a move towards the 21,700–22,000 zone.
In today's trade, shares of TCS, ITC, Infosys, Cochin Shipyard, RIL among others will be in focus due to various news developments and second quarter results.
ITC
ITC saw a large block deal on Thursday, with a GQG-linked emerging markets fund selling shares worth about Rs 9,395 crore at Rs 257.35 apiece, even as Fidelity, ICICI Prudential Mutual Fund, SBI Mutual Fund and other domestic and foreign investors bought into the FMCG major. According to block deal data, GQG Partners Emerging Markets Equity Fund sold 36.51 crore ITC shares across multiple tranches.
American Depository Receipts (ADRs) of Indian IT services companies Infosys and Wipro fell nearly 3% in US trading on Thursday, weighed by fresh concerns about the sector's outlook after Tata Consultancy Services reported its September-quarter earnings and the US government widened its crackdown on employment-based immigration programmes.
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TCS
IT services major Tata Consultancy Services (TCS) on Thursday reported 15% year-on-year (YoY) growth in its consolidated net profit at Rs 13,884 crore for the second quarter. The same stood at Rs 12,075 crore a year ago. The Board has declared a second interim dividend of Rs 12 per share for the financial year 2026-27.
State-owned Cochin Shipyard has received orders to build over 40 ships from the US, Germany, Norway and other countries, Shipping Minister Sarbananda Sonowal said on Thursday.
IPO-bound Jio Platforms, which houses telecom major Reliance Jio, will always remain most affordable while delivering quality service, the company's managing director said on Thursday.
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.
