Mumbai: Indian stock markets ended in the red on Friday after a strong five-day rally, as investors booked profits amid weak global cues and fresh geopolitical concerns.
The BSE Sensex dropped 607.08 points, or 0.78 percent, to close at 76,802.90.
The NSE Nifty declined 154.90 points, or 0.64 percent, to settle at 24,013.10.
During the day, the Sensex had fallen by as much as 940 points.
IT Stocks Face Heavy Selling
The biggest pressure came from information technology stocks after global technology giant Accenture lowered its full-year revenue growth guidance.
This raised concerns about slower growth in the global technology sector.
Among Sensex stocks, Infosys fell 6.69 percent, emerging as the top loser.
Tata Consultancy Services dropped 3.53 percent, HCL Technologies declined 2.74 percent, and Tech Mahindra slipped 2.45 percent.
The BSE IT index fell 3.57 percent, showing sharp weakness across the sector.
Geopolitical Tensions Hurt Sentiment
Market sentiment also weakened due to rising geopolitical uncertainty.
Investors turned cautious after reports that planned US-Iran talks in Switzerland were postponed.
The delay created fresh doubts over the peace process and raised concerns about global stability.
Analysts said uncertainty in global markets often leads to risk-off sentiment in equities.
Mixed Global Signals
Other major Asian markets delivered mixed performances.
Japan’s Nikkei ended higher, while South Korea’s Kospi closed slightly lower.
European markets were trading mostly in positive territory.
Meanwhile, Brent crude slipped 0.58 percent to $79.39 per barrel, offering some relief to investors.
FIIs Continue Selling
Foreign institutional investors (FIIs) remained net sellers in the Indian market.
Exchange data showed FIIs sold equities worth Rs 1,025.20 crore on Thursday.
Market experts said continued foreign selling and global uncertainty may keep volatility high in the near term, even though overall domestic market sentiment remains constructive.
