Indian equity markets ended sharply lower on Friday, snapping a five-session winning streak. The BSE Sensex fell 607 points, or 0.74%, to close at 81,691.98, while the NSE Nifty 50 declined to settle at 24,888.20.
The sell-off was triggered largely by weakness in IT stocks after global technology services firm Accenture issued a softer-than-expected business outlook. Investors worried that slower global technology spending could affect revenue growth for Indian IT companies.
Among the biggest losers on the Sensex were Infosys, which dropped over 7%, followed by HCLTech, Tech Mahindra and Tata Consultancy Services (TCS), all of which witnessed significant declines. The Nifty IT index emerged as the worst-performing sectoral index of the day, recording one of its steepest falls in recent months.
Banking and energy heavyweights also weighed on the market. Shares of HDFC Bank and Reliance Industries ended lower, adding to the pressure on benchmark indices. Weak global cues and cautious investor sentiment further contributed to the decline.
However, not all stocks ended in the red. Defensive and consumer-focused counters attracted buying interest. Hindustan Unilever, Nestle India, Asian Paints and Titan were among the notable gainers, helping limit the overall market losses. Select pharmaceutical stocks also witnessed buying as investors shifted towards relatively safer sectors.
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