IT Stocks Rally During Morning Trade; Indian Equities Struggle Early

WhaleMinion · 2026-03-04T14:08:13+00:00

The Indian equity market opened lower, with benchmark indices declining despite positive global cues. Heavy selling affected blue-chip stocks, while IT shares showed resilience. Notable gains were seen in Cochin Shipyard and Bharat Forge due to significant business developments.

WhaleMinion

2026-03-04 14:08:13

Abstract generation in progress

The Indian equity market opened on a cautious note Thursday, with benchmark indices trading in negative territory despite positive global market signals. The BSE Sensex declined 108 points to close the opening session at 83,626, while the NSE Nifty index slipped 23 points to 25,796 in early trade.

Market Weakness Across Blue-Chip Names

Several heavyweight stocks came under selling pressure in the morning trade session. KWIL and Indigo each dropped around 2 percent, while BEL, Adani Ports, and Asian Paints all retreated approximately 1 percent from their previous closes. BGR Energy Systems led the declines with a sharp 3.7 percent plunge after the company elected to avail the Rajasthan VAT Amnesty Scheme, 2022, to settle outstanding Value Added Tax obligations from prior fiscal periods.

IT Sector Emerges as Bright Spot

Contrasting with the broader market weakness, India’s IT stocks demonstrated remarkable resilience and staged a noteworthy recovery in trade. Technology giants TCS, Infosys, and HCL Technologies each advanced over 1 percent, rebounding from the previous session’s selling pressure and signaling renewed investor interest in the sector.

Individual Stock Highlights

Beyond the IT rally, select companies secured notable gains through fresh business development. Cochin Shipyard climbed half a percent after clinching substantial shipbuilding orders worth approximately $360 million (Rs. 3,267 crore) from France-based CMA CGM Group. Bharat Forge jumped 1.1 percent following the announcement of a strategic partnership pact with VVDN Technologies to explore collaborative opportunities across technology-driven industries. B. L. Kashyap and Sons delivered the session’s standout performance with a 4.4 percent surge on winning a major order valued at Rs. 300 crore from CRC Green.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.