Indian stock markets deepened their losses on Friday, tracking weak global cues as the ongoing technology selloff weighed heavily on investor sentiment.
The BSE Sensex was trading at 82,880, down 794 points or 0.95 per cent around 11 am, while the NSE Nifty 50 slipped to 25,547, lower by 260 points or 1.01 per cent.
Market breadth remained sharply negative, with 29 of the 30 Sensex constituents in the red. Technology stocks led the decline, including Infosys, Tata Consultancy Services, HCL Technologies, and Tech Mahindra. Losses were also seen in heavyweights such as Hindustan Unilever, Adani Ports and Special Economic Zone, Tata Steel, and Larsen & Toubro.
Bajaj Finance was the sole gainer, rising 1.37 per cent.
Broader markets mirrored the weakness, with the Nifty MidCap index falling 1.6 per cent and the Nifty SmallCap index down 1.8 per cent. The India VIX, a measure of market volatility, climbed 4 per cent.
Sectorally, metal stocks bore the brunt of the selling, with the Nifty Metal index dropping over 3 per cent. The Nifty IT index, after sliding more than 5 per cent earlier in the session, recovered some ground but remained down over 2 per cent. Shares of Infosys, TCS, HCL Tech, LTIMindtree, Coforge, and Wipro were among the key drags.
Q3 earnings in focus
Several companies are scheduled to announce their quarterly results on Friday, including Torrent Pharmaceuticals, GMR Airports, Siemens Energy India, Info Edge India, Alkem Laboratories, Fortis Healthcare, Narayana Hrudayalaya, Ola Electric Mobility, and Inox Wind, among others.
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