IT shares declined after advancing in the two consecutive trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex advanced 38.63 points or 0.05% to 77,694.72. The Nifty 50 index fell 56.10 points or 0.23% to 24,278.65.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.29% and the BSE 250 SmallCap Index added 0.69%.

The market breadth was positive. On the BSE, 2,392 shares rose and 1,650 shares fell. A total of 252 shares were unchanged.

In the commodities market, Brent crude for October 2026 settlement declined $1.87 or 2.11% to $86.71 a barrel.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.01% to 11.18. The Nifty 29 September 2026 futures were trading at 24,455.10, at a premium of 176.45 points as compared with the spot at 24,278.65.

The Nifty option chain for the 29 Spetmber 2026 expiry showed a maximum call OI of 53.5 lakh contracts at the 25,000 strike price. A maximum put OI of 55 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty IT index declined 1.23% to 30,394. The index rose 0.78% in the past two consecutive trading sessions.

Infosys (down 1.88%), Tech Mahindra (down 1.84%), Mphasis (down 1.82%), HCL Technologies (down 1.12%), Wipro (down 1.02%), Tata Consultancy Services (down 0.96%), LTM (down 0.7%), Coforge (down 0.34%), Persistent Systems (down 0.18%) declined.

Stocks in Spotlight:

Fedbank Financial Services rose 0.82%. The company said that its board has approved an increase in aggregate borrowing limits of the company to Rs 23,000 crore from Rs 18,000 crore earlier.

Subex declined 1.29%. The company said that it has entered into a three-year engagement with a leading African mobile operator for the deployment of its HyperSense Fraud Management solutions. The operator selected Subex for its deep telecom domain expertise, proven experience across African markets and AI-powered fraud management capabilities.

Advait Energy Transitions rallied 3.09%after the company announced that it has received a turnkey contract worth Rs 134.62 crore from Madhya Pradesh Power Transmission Company (MPPTCL). The order, received on 25 August 2026, involves the design, manufacturing and supply of Emergency Restoration Systems (ERS) suitable for 400kV, 220kV and 132kV voltage class extra-high voltage (EHV) lines, along with all accessories.