Infosys falls on weak FY27 guidance, drags Nifty IT | Anant Raj falls sharply after ED raids – Paper by Pocketful
Market Recap: 24th April, 2026
Stock News Highlights
Infosys (-6.93%): Shares fell despite strong Q4; profit rose 20.9% YoY, revenue up 13.4%, margins steady at 21%, but weak FY27 guidance weighed on investor sentiment.
Anant Raj (-9.38%): Shares fell sharply after the ED conducted raids at its Delhi office in a money laundering probe, raising concerns over regulatory risks and near-term sentiment.
Cyient (-6.72%): Shares slipped after weak Q4 results; PAT plunged 67.7% YoY to ₹54.8 crore despite marginal revenue growth, while Motilal Oswal maintained a Sell rating, weighing on sentiment.
Tata Capital (-1.00%): Shares slipped despite strong Q4; PAT rose 43% YoY, AUM growth remained healthy, but muted market sentiment and profit booking weighed on the stock.
Sectoral Performance
IT | Nifty IT (-5.29%): Index fell sharply due to weak guidance, global uncertainty, and cautious demand outlook. Major drag from Infosys, TCS, and HCL Technologies, with broad-based selling across sectors.
Media | Nifty Media (-1.87%): Index declined after a strong Five-session rally as profit booking emerged, with 1 gainer and 9 losers, reflecting broad-based weakness across media stocks.
Pharma | Nifty Pharma (-1.77%): Index declined after recent rally due to profit booking and sector-specific concerns. Weak global outlook, pricing pressure, and rising competition in generics weighed on stocks like Sun Pharma, Alkem Laboratories, and Lupin.
Defence | Nifty India Defence (-1.57%): Sector declined due to profit booking after recent rally, amid stretched valuations and lack of fresh order inflows, with 2 gainers and 16 losers indicating broad-based weakness.
Market Insights
Technical Level: Nifty opened with a gap-down opening and moved towards the previous day’s close, attempted to break the level but failed to sustain, then fell sharply, forming resistance at 24,200 and closing near support at 23,820
Advance-Decline Ratio: Market breadth remained weak with 863 advances and 2,428 declines, indicating broad-based selling pressure across the market.
The Big Picture: Dow Jones Industrial Average futures fell over 120 points amid pressure on industrial stocks, while Nasdaq Composite surged nearly 1% driven by strong tech earnings and AI momentum. S&P 500 edged higher, reflecting cautious optimism despite ongoing geopolitical tensions, trade risks, and oil price volatility.
FII/DII Activity (April 23, 2026): Broad-based selling as DIIs bought ₹941 crore while FIIs sold ₹3,255 crore.
Watch Out For Tomorrow
Macro: Japan BoJ Interest Rate Decision & USA Fed Interest Rate decisions due next week, markets cautious
Index Watch: Nifty opened with a negative start, reflecting cautious sentiment due to rupee weakness against the dollar, global uncertainty, and weak IT outlook, leading to selling pressure; however, the index closed the week higher overall, with next support near 23,500 and resistance around 24,600.
Word of the day
Credit Rating: A credit rating measures the probability that a bond issuer will repay its debt. Agencies like CRISIL, ICRA, and CARE assign ratings such as AAA, AA, or BBB.