India’s benchmark equity indices ended lower for the third consecutive session on Friday, pulled down by information technology and pharma stocks. The indices reported their first weekly loss after two as uncertainty over the US-Iran ceasefire and poor IT earnings and guidance weighed on sentiment.
The Nifty 50 index eventually closed at 23,898, down 1.14%. Notably, this marks the first instance in April where Nifty has declined by more than 1% in a single session. The BSE Sensex shed nearly 1,000 points or 1.3% to close at 76,664.21.
HCLTech, Infosys, Cipla, TCS and Dr Reddy’s were some of the top losers on the blue-chip index. Infosys shed as much as 3.7% after its FY27 guidance soured investor sentiment. Cipla tanked after partner unit, Pharmathen’s Rodopi facility in Greece, was placed under an import alert by the USFDA.
The Nifty Midcap 150 index fell over 1% dragged by Persistent Systems and Coforge. The Nifty Smallcap 250 fell over 1% dragged by UTI AMC and Anant Raj.
Over 2,800 stocks on the BSE declined and 1,280 advanced.
Meanwhile, most Asian stock markets were down as investors remained cautious despite a three-week extension of the Israel-Lebanon ceasefire. The two countries agreed to extend their ceasefire by three weeks following a meeting in the White House with top US officials, President Donald Trump.
In the futures market, Nasdaq 100 contracts advanced 0.8%. S&P 500 futures wavered, with the index headed for its first weekly loss since March.
Brent advanced for a fifth straight day, climbing above $107 a barrel as the impasse between Washington and Tehran over how to proceed with talks to end their conflict carried on.
