Indian shares fall as IT stocks extend losing streak to eight days

Indian benchmark indices traded lower in mid-afternoon trade, with the S&P BSE Sensex down 387.89 points or 0.53% to 72,390.56 and the Nifty 50 dropping 119 points or 0.52% to 22,661.25, as investor caution grew amid surging crude oil prices and rising global bond yields. The Nifty IT index fell 1.34% to 27,709.30, marking its eighth consecutive session of decline with a cumulative drop of 4.96%. Major IT stocks including Oracle Financial Services Software, Wipro, HCL Technologies, and Infosys led the losses. Market breadth was negative, with 1,997 shares falling against 1,493 rising on the NSE. Supporting data showed the US 10-year bond yield rose to 5.251%, Brent crude for November 2026 settlement gained 0.30% to $105.60 a barrel, and the rupee edged lower to 95.9950 against the dollar. The NSE MidCap 150 Index fell 0.43%, while the SmallCap 250 Index rose 0.04%.