Sensex Snaps Winning Streak: IT Selloff and Heavyweights Drag Indices

The Indian equity markets faced a sharp reversal on Friday, ending a five-session winning streak as a massive selloff in technology stocks and weakness in heavyweights weighed on investor sentiment. Despite the volatility, the Nifty50 managed to hold its ground above the psychological 24,000 mark.

Benchmarks Retreat Amid Global Cautions

The BSE Sensex closed significantly lower, shedding 607.08 points, or 0.78%, to finish at 76,802.90. The intraday volatility was notable, with the index plunging as much as 940.26 points before stabilizing. Similarly, the NSE Nifty50 dropped 154.90 points, or 0.64%, settling at 24,013.10.

This correction comes after a robust rally over the previous five trading sessions, during which the Sensex had advanced by 4.84% and the Nifty by 4.34%. The sudden downturn was fueled by a combination of fresh geopolitical concerns and a contagion effect from global technology stocks.

The IT Sector Crisis: The Accenture Effect

The primary driver of the market decline was the technology sector. The Nifty IT index plunged by over 6%, hitting its weakest level since April 2023. This sector-wide slump was triggered by a significant drop in Accenture's stock on Wall Street, where shares fell 11% following a lowered revenue growth forecast for FY26.

Investors fear that businesses are pulling back on discretionary spending for digital transformation. The impact on Indian IT majors was severe:

  • Infosys: Leading the losses, sliding nearly 9%.
  • TCS: Fell by 3.53%.
  • HCLTech & Tech Mahindra: Dropped 2.74% and 2.45% respectively.
  • Other Losers: Mphasis, LTIMindtree, and Persistent Systems all saw losses ranging between 4% and 6%.

Heavyweights HDFC Bank and RIL Join the Decline

While IT stocks led the charge, the indices were further burdened by major index heavyweights. Reliance Industries Limited (RIL) closed at Rs 1,311.50, down 1.25%. This occurred amidst news from its 49th AGM, where Chairman Mukesh Ambani announced that Reliance Jio Platforms would be filing its draft red herring prospectus (DRHP) with SEBI for an upcoming IPO.

بانک HDFC نیز با فشار فروش مواجه شد و با ۲.۲۵٪ کاهش، در قیمت ۷۸۱ روپیه بسته شد. این کاهش عمدتاً به دلیل تبدیل شدن وضعیت سهام به ex-dividend برای آخرین سود سهام به مبلغ ۱۳ روپیه در هر سهم بود. علاوه بر این، بانک با اخبار مثبتی نیز روبرو شد، زیرا RBI با تمدید سه ماهه دوره فعالیت ککی میستری (Keki Mistry) به عنوان رئیس موقت پاره‌وقت موافقت کرد که این امر نوعی شفافیت مقرراتی فراهم آورد.

نکات کلیدی

  • پایان روند صعودی: بازار با افت بیش از ۶۰۰ واحدی شاخص Sensex، روند پنج‌روزه صعودی خود را قطع کرد که دلیل آن ضعف در بخش‌های مختلف و تنش‌های ژئوپلیتیک بود.
  • رکود بخش IT: نگرانی‌های جهانی در مورد کاهش هزینه‌های IT — که با چشم‌انداز ضعیف Accenture رقم خورد — شاخص Nifty IT را به پایین‌ترین سطح خود در بیش از سه سال اخیر رساند.
  • تأثیر منفی سهام‌های سنگین: این کاهش با حضور بازیگران اصلی مانند Reliance Industries و HDFC Bank تشدید شد و مانع از حفظ شتاب صعودی اخیر شاخص Nifty50 گردید.