Indian benchmark indexes opened lower on Friday, ending a five-session winning streak as information technology stocks came under heavy pressure following a weaker-than-expected outlook from global consulting giant Accenture. The Nifty 50 fell 0.82% to 23,970.6, while the Sensex dropped 0.94% to 76,688.63 in early trading, as investors booked profits after a strong rally earlier in the week.
The decline was largely driven by weakness in the technology sector, with investors worried that Accenture’s cautious guidance could signal slower demand for IT services globally. The negative sentiment weighed on major Indian IT companies and triggered a broader market pullback.
Despite Friday’s losses, both the Nifty and Sensex remained on course to post weekly gains of about 1.5%, supported by easing crude oil prices and improving risk sentiment following recent geopolitical developments. Lower oil prices have helped reduce concerns over inflation and India’s import bill, providing a positive backdrop for domestic equities.
Market participants are also closely watching corporate developments, including Reliance Industries' annual general meeting, for updates on growth initiatives, artificial intelligence investments, and potential progress on Reliance Jio’s much-anticipated IPO. Investors now await fresh domestic and global cues to determine whether the market can resume its upward momentum in the coming sessions.
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