First Trade: Indices snap 3-day winning streak, Nifty holds above 23,400; Wipro falls over 5%

Stock market today, Nifty50: Indian equities despite positive Asian markets opened Thursday's session on a weak note. At the open, Nifty50 index opened at 23,401.85, down 0.15 per cent, while the 30-share Sensex was dragged by over 76 points to 76,968.02.

Meanwhile, broader markets outperformed the indices with only marginal losses on both the smallcap and midcap indices.

Nonetheless, Bank Nifty continued its momentum and was up by a tad led by banks primarily ICICI Bank, HDFC Bank and Bank of Baroda among others. From the Nifty50 pack top gainers included stocks like ICICI Bank, Airtel, Cipla, Dr. Reddy's and Sun Pharma, while top laggards were Wipro, Hero MotoCorp, Tech Mahindra, Titan and Tata Steel.

FII buying on the Street for the second straight also failed to cheer D-Street sentiment. In the previous day's session, foreign institutional investors (FII) bought Indian equities worth Rs 3,936.42 crore.

Sectoral performance

Sectorally, the IT pack lagged after top Tier I IT companies - TCS and Wipro missed estimates in their Q4 earnings. The Nifty IT index was down over 2 per cent. Furthermore, amid across-teadhe board sell-off with only the pharma index gaining by a tad.

Also Read: Asian markets mostly positive despite sharp decline on Wall Street in overnight trade; Hang Seng leads

Stocks to watch today (April 17, 2025)

Wipro: Wipro shares will be in focus after the company's March quarter performance. For the March quarter, the company's PAT as against estimates came in higher at Rs 3,569.6 crore, rising over 6 per cent.

Hero MotoCorp: The two-wheeler auto major has halted the production at some of its manufacturing plants in Dharuhera, Gurugram, Haridwar etc.

Asian markets

Asian markets in Thursday's session mostly rose even as Wall Street fell sharply even as the US Federal Reserve Chair Jerome Powell warned that the ongoing trade tariff woes could pose a challenge for the country's central bank in meeting inflationary targets while spurring growth at the same time.