Market Opens Weak; Infosys, Tech Mahindra Hold Firm

Markets opened sharply lower today as rising oil prices revived inflation worries. The Sensex opened down 540 points (0.73%) at 73,169.20 against Wednesday’s close of 73,709.69, and fell as much as about 630 points. The Nifty opened down about 202 points (0.88%) at roughly 22,610, against 22,811.35, slipping below 22,600 early on. GIFT Nifty had signalled the weak start, pointing to about 22,654, down 90 points. India VIX, the market’s fear gauge, rose about 6%. -Infosys and

are the stocks holding up. Both were among the Nifty’s early gainers while the market fell. Infosys closed 3.3% higher on Wednesday at ₹1,168 and is extending its pre-results run. -Infosys reports its Q2 results on Friday, October 23. Management comments are at 4:30 PM and the earnings call at 6 PM. In Q1 FY27 its revenue rose 14% to ₹48,211 crore and profit rose 12.3% to ₹7,769 crore, so guidance, margins and deal wins will be the focus. -The sell-off is broad. Only 5 of the 30 Sensex stocks were in the green early on. Midcaps fell about 1% and smallcaps about 0.9%, with chemicals, auto and metals the weakest sectors. -PC Jeweller rose about 6% in early trade, one of the few strong movers. -Jio Platforms’ IPO is in focus. It was fully subscribed within two hours on day one and was subscribed about 3.3 times so far on day two.