The BSE Sensex finished about 0.6% lower at 76,619.3 on Friday, halting gains in the prior three sessions, mid concerns over slowing earnings and foreign fund outflows. Market sentiment was further dampened by uncertainty surrounding the incoming Trump administration and rising crude prices. IT stocks weighed heavily on the index, with Infosys dropping 5.8% as the worst performer after multiple brokerages raised concerns about the quality of its quarterly results, citing a higher proportion of third-party items in its deal pipeline. HCLTech also missed revenue expectations, while Axis Bank dropped nearly 5% after its earnings report, as brokerages revised their price targets downward, putting pressure on the banking sector. On the upside, Zomato (+2.8%) was the top gainer, followed by Reliance (+2.6%), after it topped Q3 profit estimates. For the week, India's stock market fell roughly 1%, notching the 2nd consecutive weekly decline.
You are viewing a single comment's thread from: