RSS Sensex, Nifty Seen Drifting Lower As TCS Misses Revenue Estimates

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 RSS Sensex, Nifty Seen Drifting Lower As TCS Misses Revenue Estimates

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Indian equities are poised for a weaker start on Friday, with particular attention on IT stocks following disappointing earnings results from Tata Consultancy Services (TCS), India’s premier IT services company, which fell short of expectations in both revenue and profit.

Global market sentiment remains subdued, marred by uncertainty regarding U.S. policy shifts under the Trump administration and ongoing concerns regarding China's economic growth.

On Thursday, the benchmark indices, Sensex and Nifty, each declined by approximately 0.7%, marking a back-to-back day of losses. In contrast, the rupee showed resilience, rebounding from a historic low to close 4 paise higher at 85.87 against the dollar, aided by dollar sales from private banks.

According to the recently published United Nations World Economic Situation and Prospects (WESP) report, pressures on the local currency are expected to diminish, forecasting that the Indian economy will expand by 6.6% in 2025, primarily fueled by robust private consumption and investment.

Data from the National Stock Exchange (NSE) revealed that foreign institutional investors (FIIs) executed their largest sell-off of the year, disposing of shares worth Rs. 7,171 crore on Thursday. Conversely, domestic institutional investors (DIIs) made net purchases worth Rs. 7,640 crore.

This morning saw broad declines across Asian markets, with advancing Treasury yields and a strong dollar as investors await crucial U.S. employment figures due later today. Gold prices remained stable, whereas oil prices displayed mixed movements.

Meanwhile, European markets finished broadly higher on Thursday, overcoming inflationary concerns and tariff threats from Trump. Trading activity was lighter than usual, as U.S. markets were closed in remembrance of former President Jimmy Carter. The pan-European STOXX 600 climbed 0.4%, the U.K.'s FTSE 100 increased by 0.8%, France's CAC 40 rose by 0.5%, while Germany's DAX recorded a slight decline.

The material has been provided by InstaForex Company - www.instaforex.com
 
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