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IT stocks drags Indian equity benchmarks to weekly losses

VCCircle

VCCircle · 7m ago

IT stocks drags Indian equity benchmarks to weekly losses

Indian equity benchmarks fell on Friday, leading to weekly losses, primarily due to a significant decline in IT stocks over concerns about earnings growth and persistent foreign outflows. The Nifty 50 and BSE Sensex declined by roughly 1% each for the week. Infosys and HCLTech saw notable drops. Foreign investors have withdrawn about $6 billion in January, contributing to concerns. Axis Bank shares fell due to weak quarterly results, while Reliance shares rose on exceeding profit expectations.

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Profit booking drags Sensex, Nifty below flatline, snaps record streak

VCCircle

VCCircle · 11m ago

Profit booking drags Sensex, Nifty below flatline, snaps record streak

Indian shares closed marginally lower on Friday as investors took profits after a week of record-high gains. The Nifty 50 ended down 0.07% and the BSE Sensex dropped 0.3%. Financial stocks, which had risen since the US rate cut, fell nearly 1%. IT companies, on the other hand, rose after US-listed Accenture posted strong quarterly earnings. Metal stocks gained over 7% during the week, thanks to strong metal prices and hopes for Chinese stimulus measures. Ten of the 13 major sectoral indexes had weekly gains.

Rupee snaps six-session losing streak, gains limited by lingering outflows

Economic Times

Economic Times · 1m ago

Rupee snaps six-session losing streak, gains limited by lingering outflows

The Indian rupee halted its six-session losing streak but remained steady against the U.S. dollar, closing at 86.4050 despite the recovery of Asian currencies. Persistent dollar demand from foreign banks, possibly from foreign portfolio outflows, limited the rupee's gains. Simultaneously, Indian equity benchmarks Sensex and Nifty 50 fell by 0.6% due to losses in major technology stocks. Meanwhile, global equity markets reached record highs amid optimism over trade agreements between the U.S. and European countries.

Sensex, Nifty end with minor losses; investors turn to defensives in a weak market

Money Control

Money Control · 11m ago

Sensex, Nifty end with minor losses; investors turn to defensives in a weak market

Indian equity indices, the Sensex and Nifty, closed with minor losses on September 4 after rebounding from earlier lows. Defensive stocks in the FMCG and pharma sectors saw gains, while weakness in the banking and IT sectors kept the benchmarks in the red. Concerns over a potential slowdown in the US economy also contributed to investor sentiment. The Nifty IT index fell nearly 1%, and shares of Wipro and Coal India were among the worst performers. Meanwhile, Asian Paints and Grasim Industries emerged as top gainers on the Nifty 50.

Sensex, Nifty snap 3-day losing streak but end in the red for third straight week

VCCircle

VCCircle · 10m ago

Sensex, Nifty snap 3-day losing streak but end in the red for third straight week

Indian shares snapped a three-day losing streak, with the Nifty 50 index closing 0.42% higher, supported by gains in Axis Bank. However, the benchmarks ended the week with a third consecutive weekly loss due to disappointing corporate earnings and foreign fund outflows. Axis Bank's strong quarterly profit expectations boosted private banks, while losses in Infosys and LTIMindtree weighed on the IT index. Notably, foreign institutional investors have pulled out $8.4 billion from India in October, signaling a shift in focus towards China.

Sensex, Nifty snap six-day winning streak as IT sector drags

VCCircle

VCCircle · 1y ago

Sensex, Nifty snap six-day winning streak as IT sector drags

Indian shares snapped a six-session winning streak on Wednesday, with the Nifty 50 falling by 0.64% and the Sensex dropping 0.59%. The decline was led by information technology stocks on fading hopes of early US interest rate cuts, as well as energy stocks. IT stocks shed 1.64%, extending its fall for the third straight session, while energy stocks declined by 1.68% after a 50% gain over the last 16 weeks. Media stocks also tumbled, with Zee Entertainment sliding by about 15% following reports of accounting irregularities. Investors are now awaiting the minutes of both the US Federal Reserve's latest monetary policy meeting and the Reserve Bank of India's last policy meeting.

Rupee ends at fresh record low, stays above 84/$ mark

VCCircle

VCCircle · 10m ago

Rupee ends at fresh record low, stays above 84/$ mark

The Indian rupee hit a new record low against the US dollar, closing at 84.0650 amidst equity outflows. However, it managed to avoid a steep decline due to continued dollar sales from state-run banks, possibly on behalf of the Reserve Bank of India. The rupee's depreciation comes as foreign investors withdraw $8.4 billion from Indian stocks this month, surpassing the previous record monthly outflow. Despite the rupee not benefitting from the positive trend in Asian currencies, benchmark Indian equity indices ended the day higher, but with a third consecutive weekly decline.

Sensex, Nifty log weekly losses on US tariff risks

VCCircle

VCCircle · 6m ago

Sensex, Nifty log weekly losses on US tariff risks

India's Sensex and Nifty indices logged weekly losses amid U.S. tariff uncertainties, impacting auto and pharma stocks. The Nifty 50 dropped 0.51%, while the BSE Sensex fell 0.56% on Friday, with weekly declines of 0.58% and 0.83%, respectively. Both indices hit their lowest since June, pressured by U.S. trade policy concerns and foreign outflows. Auto and pharma sectors faced notable declines due to tariffs and competition worries. Midcap and smallcap stocks saw slight recoveries.

Sensex, Nifty end flat; fall in HDFC Bank offsets gains in IT shares

VCCircle

VCCircle · 1y ago

Sensex, Nifty end flat; fall in HDFC Bank offsets gains in IT shares

Indian shares ended the day flat as HDFC Bank's decline offset gains in IT stocks, fueled by hopes of a US Federal Reserve rate cut. The Nifty 50 settled up 0.06%, while the Sensex added 0.08%, both hitting record highs for the third consecutive session. Domestically-focused mid and small-cap stocks outperformed the benchmarks, rising 0.5% each. Nine out of 13 major sectors logged gains, with IT stocks up 1.1%. Pharma stocks also performed well, while ICICI Bank gained 2.61% on multiple block deals.

Reliance boosts Sensex and Nifty to record highs

VCCircle

VCCircle · 12m ago

Reliance boosts Sensex and Nifty to record highs

In India, the equity benchmarks Sensex and Nifty reached record highs, driven by Reliance Industries' plans to increase AI adoption and issue bonus shares. The Nifty 50 has experienced its longest winning streak since October 2007, rising for 11 consecutive sessions. Indian markets have been performing well globally due to strong domestic inflows, a robust economy, and positive earnings outlook. While sectors like financial services and IT saw gains, small- and mid-cap stocks underperformed. Investors are advised to be cautious with valuations in these segments.

Sensex, Nifty log longest weekly winning run in 2025 on US trade deal hopes, foreign inflows

VCCircle

VCCircle · 3m ago

Sensex, Nifty log longest weekly winning run in 2025 on US trade deal hopes, foreign inflows

Indian stock benchmarks Sensex and Nifty logged their longest weekly winning streak of 2025, driven by optimism over a potential India-U.S. trade deal and consistent foreign inflows. The Nifty 50 closed slightly higher, while the BSE Sensex gained 0.32%. Boosted by Reliance Industries, both indices saw their third consecutive weekly gain. Positive market sentiment was further reinforced by steady foreign investments and strong earnings reports from major companies.

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