Sensex closes at 82,611 points, Nifty settles at 25,207 mark
Sensex dropped 116 points on Thursday to close at 82,611, while Nifty50 edged down by 13 points to 25,207.
The main culprit? Disappointing Q1 results from top IT companies like Persistent Systems, Coforge, and Infosys—each falling up to 6%.
Mixed corporate earnings and futures expiry added extra pressure.
Pharma stocks save the day
It wasn't just tech. Trent, Kotak Mahindra Bank, and Ultratech Cement also lost ground.
On the flip side, pharma stocks gave investors something to smile about—Sun Pharma and Dr. Reddy's helped the Nifty Pharma index rise by 0.6%.
Meanwhile, midcap and small-cap stocks dipped between 0.07% and 0.2%.
What's happening in Asia?
While Indian markets cooled off, Asian shares actually climbed thanks to upbeat US-Japan trade news and Wall Street's S&P 500 notching its 12th record high of the year.
Now all eyes are on big economic updates from Europe and beyond that could steer what happens next.