Mid Day Bell: Nifty and Sensex Surge, IT Stocks Face Headwinds
By ScanX News Team
Indian stock markets show strong positive momentum at midday on April 17, 2025. Nifty 50 up 0.64% at 23,586.35, BSE Sensex surges 0.73% to 77,604.78. Transport Services, Beverages, and Banks lead sectoral gains. IT sector faces challenges with Sonata Software plummeting 14% and Wipro down 5.1% on revenue concerns. Broad-based rally observed across most sectors, indicating market resilience despite specific stock pressures.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are showing strong positive momentum at midday on April 17, 2025, with both benchmark indices registering significant gains. The Nifty 50 is currently trading at 23,586.35, up 149.15 points or 0.64% from its previous close. Similarly, the BSE Sensex has surged to 77,604.78, marking a robust increase of 560.49 points or 0.73%.
Sectoral Performance
Top Performing Sectors
| Sector | Performance |
|---|---|
| Transport Services | 1.29% |
| Beverages | 1.25% |
| Banks | 1.16% |
| Chemicals | 1.12% |
| Logistics & Cargo | 1.07% |
Underperforming Sectors
| Sector | Performance |
|---|---|
| Utilities | -0.21% |
| Engineering Services | -0.02% |
The market is witnessing a broad-based rally, with transport services and beverages leading the charge. The banking sector is also showing strength, potentially driven by positive sentiment and expectations of strong quarterly results.
Buzzing Stocks
Sonata Software
Sonata Software 's shares have taken a significant hit, plummeting 14% to ₹288. The company warned of lower Q4 revenue from its largest client, triggering a sell-off. The stock has now fallen 65% from its peak of ₹870 and is trading at levels last seen in January 2023. As of midday, Sonata Software is trading at ₹312, down 6.88%.
Wipro
Wipro 's shares are facing pressure following its Q1 FY26 guidance, which projected a sequential revenue decline of 3.5% to 1.5%. The company reported a 0.8% QoQ revenue decline in constant currency for Q4 FY25. Analysts are citing macroeconomic uncertainty and cautious client spending as key concerns. Several brokerage firms have downgraded their ratings and cut price targets. Wipro 's stock is currently trading at ₹235, down 5.108%.
Conclusion
The Indian stock market is displaying resilience at midday, with broad-based gains across most sectors. However, the IT sector, particularly companies like Sonata Software and Wipro , is facing challenges due to revenue concerns and global economic uncertainties. Investors are closely watching these developments as the trading session progresses.
