A sharp selloff in information technology stocks, triggered by Accenture’s weaker growth outlook, and fresh geopolitical concerns ended the market’s five-session winning streak on Friday, dragging benchmark indices lower.The BSE Sensex fell 607.08 points, or 0.78%, to close at 76,802.90, while the NSE Nifty declined 154.90 points, or 0.64%, to settle at 24,013.10.During the day, the Sensex plunged as much as 940.26 points, or 1.21%, to touch 76,469.72.The correction came after a strong rally in recent sessions. The Sensex had gained 3,577.43 points, or 4.84%, over the previous five trading days, while the Nifty had advanced 1,006.4 points, or 4.34%.Technology stocks bore the brunt of the selling pressure after global IT giant Accenture trimmed its full-year revenue growth guidance, raising concerns over demand trends for the sector.The BSE IT index tumbled 3.57%.Here are the top gainers and losers of the day:
Nifty50 Top Gainers
- Eternal (+2.05%)
- Bharti Airtel (+1.71%)
- Power Grid (+1.35%)
- Nestle India (+1.22%)
- NTPC (+1.05%)
- ITC (+0.94%)
- Apollo Hospitals (+0.89%)
- Sun Pharma (+0.85%)
- HDFC Life (+0.78%)
- Trent (+0.75%)
Nifty50 Top Losers
- Infosys (-6.50%)
- TCS (-3.06%)
- Tech Mahindra (-2.33%)
- HCLTech (-2.23%)
- Mahindra & Mahindra (-1.81%)
- Wipro (-1.28%)
- Reliance Industries (-1.25%)
- Kotak Mahindra Bank (-0.86%)
- Hindustan Unilever (-0.74%)
- Asian Paints (-0.69%)
BSE Sensex Top Gainers
- Eternal (+2.21%)
- Bharti Airtel (+1.80%)
- Power Grid (+1.32%)
- NTPC (+1.08%)
- Titan (+0.84%)
- Sun Pharma (+0.79%)
- ITC (+0.79%)
- Trent (+0.77%)
- L&T (+0.49%)
- Bajaj Finserv (+0.49%)
BSE Sensex Top Losers
- Infosys (-6.69%)
- TCS (-3.53%)
- HCLTech (-2.74%)
- Tech Mahindra (-2.45%)
- HDFC Bank (-2.32%)
- Mahindra & Mahindra (-2.11%)
- Reliance Industries (-1.39%)
- Hindustan Unilever (-1.02%)
- Tata Steel (-0.82%)
- Kotak Mahindra Bank (-0.82%)
Adding to investor caution, uncertainty resurfaced over the US-Iran peace process after US Vice President J D Vance postponed his planned visit to Switzerland for talks with Iranian negotiators. The White House cited logistical issues for the deferment.The discussions were aimed at finalising technical aspects of the Memorandum of Understanding (MoU) signed between the US and Iran and were scheduled to take place on Friday.“Indian equity markets retreated after five consecutive sessions of gains, as investors booked profits amid renewed geopolitical uncertainty and sharp selling in IT stocks. Sentiment weakened following Accenture’s cautious earnings outlook, while the postponement of scheduled US–Iran negotiations undermined expectations of a smooth progression in the broader peace process,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.In corporate developments, Reliance Industries said the board of Jio Platforms Ltd approved the filing of draft papers for an initial public offering involving a fresh issue of up to 27 crore equity shares.Addressing Reliance’s 49th annual general meeting, chairman and managing director Mukesh Ambani said the draft red herring prospectus (DRHP) would be filed with Sebi on Friday.Brent crude, the global oil benchmark, fell 0.58% to USD 79.39 per barrel.Among Asian markets, South Korea’s Kospi ended marginally lower, while Japan’s Nikkei 225 closed higher. Markets in Shanghai and Hong Kong remained shut for holidays.European markets were trading mostly higher, while US markets ended in positive territory on Thursday.Foreign institutional investors (FIIs) sold equities worth Rs 1,025.20 crore on Thursday, according to exchange data.
