The key benchmarks indices traded with major cuts in morning trade as Donald Trump announced an extension of the ceasefire until Iranian leaders submit a unified proposal. Investor sentiment remained cautious amid uncertainty surrounding the deadline for the ceasefire in the West Asia conflict. However, market participants will track Q4 earnings. The Nifty slipped below the 24,400 level.

IT shares tumbled after advancing in the past trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 791.18 points or 0.99% to 78,492.51. The Nifty 50 index slumped 201.20 points or 0.82% to 24,369.70

In the broader market, the BSE 150 MidCap Index shed 0.01% and the BSE 250 SmallCap Index rose 0.28%.

The market breadth was positive. On the BSE, 2006 shares rose and 1,705 shares fell. A total of 218 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 6.41% to 18.66.

Earnings Today:

SBI Life Insurance Company (down 0.91%), Tech Mahindra(down 3.82%), Trent(down 0.91%), Bharat Coking Coal(down 0.25%), Delta Corp(up 3.63%), Havells India(up 0.02%), L&T Technology Services(down 1.77%), Oracle Financial Services Software(up 1.50%), Sangam India(up 8.51%), and Tata Communications (down 0.03%) will announce their quarterly earnings today.

Buzzing Index:

The Nifty IT index declined 3.30% to 30,681.75. The index jumped 0.45% in the past trading session.

HCL Technologies (down 8.99%), Persistent Systems (down 3.51%), Coforge (down 3.2%), Infosys (down 2.7%), Tech Mahindra (down 2.59%), LTM (down 1.95%), Tata Consultancy Services (down 1.55%), Mphasis (down 1.25%) and Wipro (down 0.32%) declined.

Stocks in Spotlight:

Ajanta Pharma fell 1.31% after the company said the United States Food and Drug Administration (USFDA) has completed an inspection at its Paithan manufacturing facility in Maharashtra, conducted between 13 April and 21 April 2026.

Advait Energy Transitions jumped 4.57% after the company received an order worth Rs 27.74 crore from Power Transmission Corporation of Uttarakhand (PTCUL).

Tata Elxsi declined 4.65%. The company reported a 27.8% increase in net profit to Rs 220.35 crore in Q4 FY26, compared with Rs 172.42 crore posted in Q4 FY25. Revenue from operations increased 9.4% to Rs 993.75 crore in the quarter ended 31 March 2026, compared with Rs 908.34 crore recorded in the corresponding quarter last year.