Business EconomyPosted at: Apr 22 2026 4:11PM


Stock market records sharp loss amid selloff in IT stocks

New Delhi, April 22 (UNI) The Indian stock market on Wednesday extended early losses to close sharply lower amid pressure in IT stocks. At close, the Sensex was down 757 points, or 0.95 per cent, at 78,516, while the Nifty declined 198 points to 24,378.
Profit booking was seen in banks and IT heavyweights amid the ongoing Q4 earnings season.
Among the sectors, IT index was down 4.5pc, Private Bank index sheds 0.4pc, while FMCG, Media, Metal, Realty up 0.4-1pc.
On Nifty, the key gainers were Tata Consumer Products, Hindustan Unilever, Tata Motors Passenger Vehicles, NTPC, Jio Financial Services. While on the losing side were HCL Technologies, Tech Mahindra, Infosys, TCS, M&M.
In the FMCG stocks, Emami, Tata Consumer Products, Hindustan Unilever, United Spirits, Varun Beverages, and Dabur India all closed higher, gaining between 1.5pc and 4.2pc.
The Indian rupee depreciated by 30 paise to settle at 93.79 against the US dollar on Wednesday, compared to its previous close of 93.49.
Investor sentiment remained cautious after US President Donald Trump announced an indefinite extension of the Iran ceasefire.
On the global market, the US markets signalled a cautious rebound. S&P futures rising 0.6pc and Nasdaq futures gaining 0.7pc. In Europe, the STOXX index edged up 0.1pc in early trade, while Asia saw a more subdued trend, with MSCI’s Asia-Pacific index (excluding Japan) slipping 0.5pc after hitting a seven-week high in the previous session.
Oil prices slipped below the USD 100 mark. Brent crude futures fell 0.3pc to around USD 98.16 per barrel after briefly nearing USD 100 earlier in the session.
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