Stock Market News Live Updates: Nifty Below 25,500; Sensex Down 800 Points; Nifty IT Slumps 35% From Record High

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Suzlon Energy said its board has appointed Ajay Kapur as chief executive officer with immediate effect, according to a notification to the exchanges,

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• The changes take effect on March 27. There are no changes to the Nifty 50, according to Nuvama Alternate and Quantitative Research.
• Nifty Next 50 additions (estimated inflows): Tata Motors CV ($173mn), Cummins India ($114mn), HDFC AMC ($96mn), Union Bank ($66mn), Muthoot Finance ($64mn), TataCap ($22mn).
• Nifty Next 50 removals (estimated outflows): ICICI General Insurance ($86mn), Naukri ($76mn), Havells ($65mn), JSW Energy ($48mn), LIC ($36mn), BajajHFL ($15mn).

• Nifty fell as much as 0.9% to 25,482.
• Sensex fell as much as 1% or over 800 points to 82,481.

• The Nifty IT Index has fallen 35% from its record high, while Bloomberg data shows valuations remain elevated.
• The index is trading at a price-to-earnings multiple of 22.14 versus 21.30, Bloomberg data showed.
• Among the key decliners cited, Oracle Financial Services Software is down 46%, TCS has fallen 41%, and Infosys has slipped 36%.

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• Nifty opened 0.4% lower at 25,610.
• Sensex opened about 300 points lower at 82,961.68.

• Morgan Stanley maintained its overweight rating on Bharti Airtel with a target price of Rs 2450 per share.
• The brokerage said Airtel is diversifying into financial services, noting it launched lending through Airtel Finance in Q1FY25 and has disbursed about Rs 9000 crore over the past two years.
• Morgan Stanley said Airtel plans to keep operations distinct between its own NBFC activities and lending through partner banks and NBFCs, and flagged that an NBFC model would be more capital intensive while adding potential revenue streams.

• CLSA maintained its outperform rating on ITC but cut its target price to Rs 367 from Rs 485.
• The research firm noted that FY27 may take a hit from the tax change, with cigarette volumes and EBIT expected to decline, while it forecasts a recovery in FY28.
• The brokerage said that ITC may need price increases of about 33% to keep EBIT per cigarette neutral, and it cut its estimates by 4–28% to reflect the tax impact on volumes and margins.

• The rupee weakened at the open against the US dollar.
• It depreciated by as much as 6 paise to 90.94 versus the greenback.

• Nifty hovered near the 25,500 level in pre-market trade.
• Sensex was down about 350 points in early indications ahead of the open.

• Citi, HSBC and CLSA have struck a cautious note on India’s IT services sector, warning that artificial intelligence could reshape business models and put pressure on valuations, even after the sector rose about 16% year-to-date.
• The view follows a Jefferies note that said AI may permanently alter revenue structures across IT services.
• Jefferies said AI could shift the revenue mix towards consulting and implementation while reducing traditional managed services, which it said may increase cyclicality and execution risks.

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• CLSA said an EPS growth turnaround could change the sector narrative more than management commentary, and added that company comments point to a macro upcycle this year with tariff impact as a base.
• The brokerage said IT stock prices could face a further 5–10% downside and flagged a pecking order between Tech Mahindra and Infosys among large caps.
• CLSA said it prefers Persistent Systems and Coforge in mid-caps, and cut target prices: Coforge to Rs 2278 (from Rs 2426), Persistent to Rs 8058 (from Rs 8865), HCL Tech to Rs 1506 (from Rs 1661), Infosys to Rs 1653 (from Rs 1779), LTI Mindtree to Rs 6304 (from Rs 7067), TCS to Rs 3333 (from Rs 3593), Tech Mahindra to Rs 1698 (from Rs 1810), and Wipro to Rs 218 (from Rs 231).

• Total FII holding in the IT sector fell to Rs 4.49 lakh crore by mid-February, down 16% from end-January 2026 and 38% since the start of 2025.
• FIIs have sold nearly Rs 12,800 crore of IT stocks so far in 2026, the highest among sectors; outflows were about Rs 10,956 crore in the first fortnight of February 2026.
• Four of the last five years saw net outflows from IT, with CY2025 seeing net selling of Rs 74,698 crore; CY2023 had net selling of about Rs 7,000 crore versus Rs 11,000 crore in the first 15 days of February.

• BPCL said it has received an order from the Commissioner of Central Tax and Central Excise, Kochi.
• The order confirms a total excise demand of Rs 1,816.65 crore.

• Bharti Airtel said it will capitalise its NBFC arm, Airtel Money Limited, with Rs 20,000 crore over the next few years.
• The announcement puts Bharti Airtel shares in focus in today’s trade.

• Brent crude futures fell 9 cents (0.1%) to $71.40 a barrel by 0120 GMT.
• Prices stayed below Monday’s intraday peak of $72.50, the highest since July 31

Read the full report here

• BSE said it has excluded Tata Technologies, HUDCO, Piramal Pharma and Torrent Power from its equity derivatives (F&O) segment.
• The exchange said derivatives contracts in these stocks will stop trading from May 4, 2026, and no new expiry-month contracts will be generated.

Read the full report here

 

• Mainland China markets reopened after the New Year holiday.
• The Shanghai index was at 4,107.586, up 25.513 points ( 0.62%) at the open.

• Indian equity benchmarks rose for a second straight session on Monday, led by gains in HDFC Bank Ltd. and Reliance Industries Ltd.
• The BSE Sensex closed 0.6% higher, up nearly 500 points, at 83,294.
• The NSE Nifty 50 gained 0.6% to finish above 25,700.

• The ASX 200 fell 0.18% and the Hang Seng Index slipped 0.62%
• South Korea’s KOSPI rose 0.43% and Japan’s Nikkei gained 0.72%

• GIFT Nifty traded at 25,572 in early trade.
• The level indicates the Nifty 50 may open lower than the previous close.