Sensex Falls 700 Points, Nifty Slips Below 24,380; IT Stocks Drag Markets Lower

Market Opening Bell, Wednesday, April 22, 2026: Indian equity benchmarks opened sharply lower on Wednesday, April 22, with selling pressure intensifying in early trade as global uncertainty weighed on investor sentiment.

As of 09:58 am, the BSE Sensex dropped around 700 points to trade near 78,574, while the Nifty 50 slipped 191 points to 24,385, briefly dipping below the 24,380 mark.

IT stocks lead the decline

The market downturn was largely driven by heavy selling in IT stocks following weak quarterly earnings. Shares of HCL Technologies, Infosys, Tata Consultancy Services and Tech Mahindra were among the top laggards.

HCL Technologies emerged as the biggest loser, falling over 7% after disappointing results, dragging the broader IT pack lower.

Mixed trend among heavyweights

Despite the broader weakness, some stocks managed to hold ground. Trent, Hindustan Unilever, Bajaj Finance, Sun Pharma and UltraTech Cement were among the early gainers, with Trent leading the pack with gains of over 1% in morning trade.

On the flip side, apart from IT names, ICICI Bank also traded in the red, adding to the pressure on benchmark indices.

Global cues keep sentiment cautious

Investor mood remained cautious after reports that the United States and Iran failed to move forward on peace talks in West Asia. The uncertainty around geopolitical developments has kept markets on edge.

Asian markets signal risk-off mood

Asian markets reflected a mixed trend, pointing to a broader risk-off sentiment across regions. Japan’s Nikkei rose 0.5%, while Hong Kong’s Hang Seng declined 1.5%. South Korea’s Kospi slipped 0.2%, and China’s Shanghai Composite edged up 0.1%.

Market outlook

With global cues remaining uncertain and earnings season in full swing, markets are likely to remain volatile through the session. Stock-specific action, especially in reaction to quarterly results, is expected to dominate trading.

(This is a developing story)

Also Read: Stocks To Watch On April 22: Tech Mahindra, Trent, SBI Life, HCL Tech, Tata Elxsi In Focus