Live Stock Market Updates: Sensex Falls Over 400 Points Amidst IT Stock Decline
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Indian equity indices BSE Sensex and Nifty50 opened lower on Friday, extending losses from the previous session, as IT stocks witnessed profit booking amid receding bets of early US rate cuts. At 10:05 AM, the Sensex was quoting over 400 points lower at 60,550.95, while the Nifty was trading down 120.40 points or 0.68% at 17,775.30.
Among the major Sensex losers, Tech Mahindra, Infosys, Wipro, and TCS were the top drags, falling between 1-2.5%. Other major losers included HCL Technologies, Asian Paints, Bajaj Finance, and HDFC.
On the other hand, Axis Bank, Maruti Suzuki, NTPC, and HDFC Bank were among the few gainers in the Sensex pack.
The broader markets were also trading lower, with the Nifty Midcap 100 and Smallcap 100 indices down around 0.5% each.
Sectorally, all major BSE indices were trading in the red, led by the IT, consumer durables, and auto indices. However, the metal index was bucking the trend and was trading marginally higher.
Globally, Asian markets were mixed on Friday, with the Nikkei 225 and Hang Seng indices trading lower, while the Shanghai Composite was up slightly.
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