Indian stocks concluded the trading session with a slight dip on Friday, marking a third consecutive day of declines. This downturn is attributed to concerns over a depreciating rupee, escalating oil prices, and persistent Foreign Institutional Investor (FII) outflows amidst global uncertainties.
Despite the overall market decline, optimism from Tata Consultancy Services (TCS) regarding its future performance stimulated buying in IT stocks, which helped to moderate the broader market losses.
The S&P BSE Sensex index decreased by 241.30 points, or 0.31 percent, closing at 77,378.91. This decline was influenced by a strong U.S. dollar and elevated bond yields as investors awaited the crucial U.S. jobs report expected later in the day.
Similarly, the NSE Nifty index slipped by 95 points, or 0.4 percent, settling at 23,431.50. Notable fallers included BEL, NTPC, Adani Enterprises, IndusInd Bank, and Shriram Finance, each declining between 4 to 5 percent.
Tata Elxsi suffered a significant 6.8 percent drop following third-quarter results that failed to meet market expectations.
IREDA shares fell by 5.8 percent, despite the company announcing a 26.8 percent year-on-year increase in its third-quarter net profit.
Adani Wilmar plummeted by 10 percent following news that its founder plans to sell a 13.5 percent stake in the company via an Offer for Sale.
Conversely, Tata Consultancy Services enjoyed a 5.6 percent surge as the firm forecasted robust growth for both CY24 and FY26. This positive sentiment extended to its peers, with Wipro, Infosys, HCL Technologies, and Tech Mahindra each experiencing 3-4 percent increases.
Additionally, JSW Steel edged up by approximately 1 percent after reporting a slight increase in third-quarter production.
The material has been provided by InstaForex Company - www.instaforex.com
Despite the overall market decline, optimism from Tata Consultancy Services (TCS) regarding its future performance stimulated buying in IT stocks, which helped to moderate the broader market losses.
The S&P BSE Sensex index decreased by 241.30 points, or 0.31 percent, closing at 77,378.91. This decline was influenced by a strong U.S. dollar and elevated bond yields as investors awaited the crucial U.S. jobs report expected later in the day.
Similarly, the NSE Nifty index slipped by 95 points, or 0.4 percent, settling at 23,431.50. Notable fallers included BEL, NTPC, Adani Enterprises, IndusInd Bank, and Shriram Finance, each declining between 4 to 5 percent.
Tata Elxsi suffered a significant 6.8 percent drop following third-quarter results that failed to meet market expectations.
IREDA shares fell by 5.8 percent, despite the company announcing a 26.8 percent year-on-year increase in its third-quarter net profit.
Adani Wilmar plummeted by 10 percent following news that its founder plans to sell a 13.5 percent stake in the company via an Offer for Sale.
Conversely, Tata Consultancy Services enjoyed a 5.6 percent surge as the firm forecasted robust growth for both CY24 and FY26. This positive sentiment extended to its peers, with Wipro, Infosys, HCL Technologies, and Tech Mahindra each experiencing 3-4 percent increases.
Additionally, JSW Steel edged up by approximately 1 percent after reporting a slight increase in third-quarter production.
The material has been provided by InstaForex Company - www.instaforex.com