Indian Markets Snap Five-Day Winning Streak Amid IT Selloff

The Indian equity markets faced a sharp reversal on Friday, ending a strong five-session rally as heavy selling in the information technology sector dragged benchmark indices lower. Investors reacted to cautious global growth forecasts and renewed geopolitical tensions, leading to significant profit-booking across major indices.

IT Sector Crashes Following Accenture's Weak Outlook

The primary catalyst for the market downturn was a massive selloff in technology stocks. Global IT major Accenture recently trimmed its full-year revenue growth guidance, sparking widespread fears regarding demand trends in the sector. This sentiment hit the BSE IT index particularly hard, which tumbled by 3.57%.

Leading the decline were heavyweights like Infosys, which saw its share price plummet by 6.50% on the Nifty, and TCS, which dropped by 3.06%. Other major IT players, including Tech Mahindra (-2.33%) and HCLTech (-2.23%), also faced heavy selling pressure, contributing to the overall bearish sentiment.

Sensex and Nifty Close in the Red

The benchmark indices reflected this sectoral weakness with notable losses. The BSE Sensex fell 607.08 points, or 0.78%, to settle at 76,802.90, having touched an intra-day low of 76,469.72. Similarly, the NSE Nifty declined 154.90 points, or 0.64%, to close at 24,013.10.

This correction follows a period of intense bullishness; over the preceding five trading days, the Sensex had gained 3,577.43 points (4.84%) and the Nifty had advanced 1,006.4 points (4.34%). The sudden retreat suggests that investors are increasingly cautious about overvaluation following the recent rally.

Geopolitical Tensions and Global Macro Factors

Beyond the IT sector, geopolitical uncertainty added weight to the selling pressure. The postponement of scheduled US–Iran negotiations in Switzerland, following US Vice President J.D. Vance's decision to defer his visit, undermined expectations for progress in the peace process.

Market sentiment was further dampened by institutional activity, with Foreign Institutional Investors (FIIs) recording net equities sales of Rs 1,025.20 crore on Thursday. On the commodity front, Brent crude eased by 0.58% to settle at USD 79.39 per barrel, providing some minor relief to broader market sentiments.

Corporate Highlights: Jio Platforms IPO Move

На тлі ринкової волатильності Reliance Industries привернула увагу значними корпоративними подіями. Рада директорів Jio Platforms Ltd схвалила подання проєктів документів для первинного публічного розміщення акцій (IPO). Цей крок передбачає новий випуск до 27 крор акцій, а подання проєктного проспекту (DRHP) до SEBI заплановане.

Найкращі та найгірші показники Nifty50

Лідери зростання:

  • Eternal: +2,05%
  • Bharti Airtel: +1,71%
  • Power Grid: +1,35%

Лідери падіння:

  • Infosys: -6,50%
  • TCS: -3,06%
  • Tech Mahindra: -2,33%

Основні висновки

  • Тиск на ІТ-сектор: Слабший прогноз зростання від Accenture спровокував масовий розпродаж акцій індійських ІТ-компаній, причому Infosys та TCS очолили падіння.
  • Ринкова корекція: Еталонні індекси перервали п'ятиденну серію зростань; індекс Sensex впав більш ніж на 600 пунктів, оскільки інвестори фіксували прибуток.
  • Геополітичний та інституційний тиск: Невизначеність навколо переговорів між США та Іраном, а також продажі FII сприяли ведмежим настроям на ринку.