Indian equity markets extended their losing streak for the second consecutive session on April 23, as lack of progress in US–Iran negotiations pushed crude oil prices above $100 per barrel, dampening investor sentiment.


After a weak start, the market extended losses through the session, with the Nifty slipping to an intraday low of 24,134.80, weighed down by selling in auto, IT, and realty stocks, along with weakness in the broader indices.

Infosys' biggest market, North America, was down 1 percent in Q4FY26 in constant currency terms year-or-year. The total revenue contribution from the region declined to 55.7 percent from 57 percent.

When asked on the declining trend, Chief Financial Officer Jayesh Sanghrajka said some large deals from the Eurozone in the last couple of quarters has led to the shift in revenue contribution.

On the other hand, Europe's contribution increased to 32.6 percent from 31,2percent, up 7.2 percent.


At close, the Sensex was down 852.49 points or 1.09 percent at 77,664, and the Nifty was down 205.05 points or 0.84 percent at 24,173.05.

Broader indices also ended lower with Nifty smallcap index losing 0.6%, snapping 2-day gains, while Midcap index shed 0.4%.

Biggest Nifty losers were Trent, M&M, Shriram Finance, SBI Life Insurance, Tech Mahindra, while gainers included Dr Reddy's Labs, Cipla, Jio Financial, Adani Enterprises, Apollo Hospitals.

On the sectoral front, capital goods gained 0,4%, healthcare index rose 1.6%, energy index gained 0.25% and media index surged 0.9 percent. On the other hand, auto, consumer durables and PSU Bank down 2% each, while IT, realty, metal, private bank down 1% each.

Nearly 140 stocks touched their 52-week high on the BSE, including GE Vernova TD, Welspun Corp, Glenmark Pharma, Data Patterns, Hitachi Energy, Himadri Speciality Chemical, Lupin, Torrent Power, Chennai Petroleum Corporation, Schneider Infra, Granules India, NALCO, Aurobindo Pharma, Adani Green Enery, Timken, HEG, JSW Energy, CG Power, Siemens, Lloyds Metals, among others.


In stock-specific action, Tips Music share price gained 9% after Q4 net profit jumps 93%, Jio Financial Services gained 4% after signing an agreement with Allianz Group to form an insurance joint venture. While shares of Cipla surged nearly 6% following USFDA approval for the first AB-rated generic of Ventolin HFA.

On the downside, L&T Technology Services slipped nearly 3% despite reporting better-than-expected Q4 earnings.

Among other movers, KP Energy jumped 3.5% after receiving an inter-state electricity trading licence. Tata Communications added nearly 5% despite a 74% decline in Q4 consolidated profit, while Oracle Financial Services Software rallied more than 7% on strong quarterly results and Dynamic Cables share rose 6% on manufacturing agreement with TS Conductor Corp, USA.

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Meanwhile, SBI Life Insurance fell 3% as its Q4 profit saw a marginal decline. Delta Corp shares surged 20% despite a steep 90% drop in consolidated profit, whereas shares of Trent declined more than 4% even as Q4 profit jumped 32%.

For FY27, Infosys guided for revenue growth of 1.5 percent to 3.5 percent in constant currency, compared with its earlier guidance range of 3 percent to 3.5 percent, indicating a more cautious near-term demand outlook.

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The Bengaluru-based services company had revised its revenue growth guidance in the range of 3-3.5 percent for FY2025-26 in January.

This is broadly in line with commentary from peers such as Tata Consultancy Services and HCLTech, which have flagged consistent pipelines but cautious outlook.

The software major, along with other IT companies, has been facing tepid demand on the back of soft discretionary spending and macroeconomic challenges in its major revenue-contributing geographies.

Large deal total contract value (TCV) for the quarter stood at $3.2 billion. For the full year, the company booked $14.9 billion.