Mumbai/IBNS, April 22 -- Shares of HCLTech Ltd. plunged nearly 10 percent on Wednesday, marking their worst single-day performance since October 2015, according to media reports.

Brokerage downgrades trigger sell-off

The sharp fall came after brokerages downgraded the stock and slashed target prices following the company's weak fourth-quarter performance.

Broader market opens in red

The broader Indian market also opened in the red despite a temporary easing of tensions in West Asia.

The BSE Sensex dropped 400 points at the opening bell, while the NSE Nifty 50 slipped below the 24,500 mark.

Trump extends Iran ceasefire deadline

The market reaction came even as US President Donald Trump announced an extension of his April 22 deadline...