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.
コーポレート・スポットライト：RelianceとJio PlatformsのIPO
市場のボラティリティが高まる中、Reliance Industriesは、そのデジタル部門に関して大きな注目を集めています。Jio Platforms Ltdの取締役会は、新規株式公開（IPO）に向けた目論見書草案の提出を承認しました。今回の提案では、最大2億7000万株の新規発行が行われる予定で、ドラフト・レッド・ヘリング目論見書（DRHP）はSEBIに提出される見込みです。
主なポイント
- ITセクターの低迷: Accentureに対する世界的な逆風が、インドのIT株の大幅な売りを誘発し、InfosysやTCSが大幅に下落しました。
- 地政学的な逆風: 米イラン交渉の延期や中東情勢全般の不透明感が、投資家による利益確定売りの要因となりました。
- 市場の調整: 今回の調整は、Sensexが4.84%、Niftyが4.34%上昇した5日間の力強い上昇相場の後に発生しました。