Markets Snap Five-Day Rally As Accenture Guidance Triggers Sharp Selloff In IT Stocks
Indian stock markets slipped into the red on Friday, ending a five-session winning streak. The Sensex fell nearly 700 points, while the Nifty dropped around
Indian stock markets slipped into the red on Friday, ending a five-session winning streak. The Sensex fell nearly 700 points, while the Nifty dropped around 200 points as heavy selling in IT stocks weighed on investor sentiment. The Nifty IT index declined 5.5% after Accenture reported weaker earnings guidance for the current financial year.
Major IT stocks, including TCS, Infosys, and Tech Mahindra, recorded sharp losses. Meanwhile, Brent crude fell below $80 per barrel and was down more than 9% for the week, returning to levels seen before the Middle East conflict began. Times Now - Times Now News channel examines news with in-depth analysis.
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