Sensex and Nifty End Winning Streak as IT Stocks Face Sharp Selloff

The Indian equity markets snapped a five-session winning streak on Friday, as a combination of global IT sector concerns and geopolitical uncertainty triggered a significant correction. Both the BSE Sensex and NSE Nifty50 closed sharply lower, marking a pause after a strong rally that had seen the benchmarks gain over 4% in the preceding week.

IT Sector Under Pressure Following Accenture’s Outlook

The primary catalyst for the market downturn was a massive selloff in the information technology sector. The slump was triggered by global IT giant Accenture trimming its full-year revenue growth guidance, which sparked fears regarding softening demand trends in the industry.

The impact on domestic IT heavyweights was substantial. The BSE IT index tumbled by 3.57%, with Infosys leading the decline, falling 6.50% in the Nifty50 and 6.69% in the Sensex. Other major players also faced heavy selling pressure, including TCS, which dropped 3.06%, and Tech Mahindra, which shed 2.33%.

Geopolitical Uncertainty and Macro Factors

Beyond the IT sector, renewed geopolitical tensions added to investor caution. Uncertainty resurfaced regarding the US-Iran peace process after US Vice President J D Vance postponed a scheduled visit to Switzerland for talks with Iranian negotiators. This postponement undermined expectations for the finalization of a Memorandum of Understanding (MoU) between the two nations.

On the commodity front, Brent crude oil prices eased by 0.58% to settle at USD 79.39 per barrel. Meanwhile, institutional activity showed a bearish tilt, with Foreign Institutional Investors (FIIs) selling equities worth Rs 1,025.20 crore on Thursday.

Key Market Movers: Gainers and Losers

Despite the overall market decline, certain sectors showed resilience. Defensive stocks and those in the telecommunications and power sectors managed to post gains.

Nifty50 Top Gainers:

  • Eternal (+2.05%)
  • Bharti Airtel (+1.71%)
  • Power Grid (+1.35%)
  • Nestle India (+1.22%)

Nifty50 Top Losers:

  • Infosys (-6.50%)
  • TCS (-3.06%)
  • Tech Mahindra (-2.33%)
  • HCLTech (-2.23%)

BSE Sensex Performance: The Sensex closed at 76,802.90, down 607.08 points (0.78%). During intraday trading, the index saw a steep plunge, touching a low of 76,469.72, representing a 1.21% drop.

Zoom sur les entreprises : l'introduction en bourse de Reliance et Jio Platforms

Dans un contexte de volatilité des marchés, Reliance Industries a fait la une de l'actualité concernant sa branche numérique. Le conseil d'administration de Jio Platforms Ltd a approuvé le dépôt des documents préliminaires pour une introduction en bourse (IPO). L'offre proposée porte sur une nouvelle émission de jusqu'à 27 crore d'actions ordinaires, le projet de prospectus (DRHP) devant être déposé auprès de la SEBI.

Points clés

  • Ralentissement du secteur informatique : Les vents contraires mondiaux pour Accenture ont déclenché une lourde vague de ventes sur les valeurs informatiques indiennes, Infosys et TCS enregistrant des baisses significatives.
  • Vents contraires géopolitiques : Le report des négociations entre les États-Unis et l'Iran ainsi que les incertitudes plus larges au Moyen-Orient ont contribué à des prises de bénéfices de la part des investisseurs.
  • Correction du marché : Cette correction fait suite à un rallye de cinq jours particulièrement soutenu, au cours duquel le Sensex avait progressé de 4,84 % et le Nifty de 4,34 %.