Nifty slips to 24,882 at midday; IT, Steel, Cement drag as Rupee hits 2026 high
The Sensex declined 362.13 points, or 0.45 per cent, to 80,637.27 from its previous close of 80,999.40, as selling pressure broadened across IT, metals and cement sectors, overwhelming early gains in banking and pharma stocks.
The Nifty index slipped to 24,882 at midday, dragged down by IT, steel, and cement sectors amid a stronger rupee hitting a 2026 high of 93.70 against the US dollar. As of 1.21 pm, the Nifty 50 fell 104.60 points, or 0.42%, from its opening at 25,076, while the Sensex declined 362.13 points, or 0.45%, from its previous close of 80,999.40.
The IT sector, in particular, bore the brunt of the selling pressure, with HCL Technologies and Infosys suffering losses exceeding 2%. The rupee's sharp appreciation weighed on gold prices, with COMEX gold futures climbing to $4,130, gaining around 1.3%, and silver rising to $53.10, a gain of approximately 2.2%.
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