Mumbai: Pedestrians walk past the Bombay Stock Exchange (BSE) building, in Mumbai, Thursday, July 13, 2023. Benchmark equity indices rebounded in early trade on Thursday, as Sensex hit its lifetime high of 65,943.57 and the Nifty reached an all-time peak of 19,540.25. (PTI Photo/Shashank Parade)(PTI07_13_2023_000218A)
| Photo Credit: SHASHANK PARADE
Key benchmark stock indices fell over 1% on Friday owing to negative sentiment caused by earnings from large companies missing expectations.
The S&P BSE Sensex slumped 887.64 points or 1.31% to 66,684.26 points. The Sensex stocks which lost the most value included Infosys (8.18%), HUL (3.65%), HCLTech (3.33%), Wipro (3.07%), TCS (2.68%) and Reliance (2.57%).
The NSE Nifty-50 index too fell 234.15 points or 1.17% to 19,745 points.
“On Friday markets broke its six-day winning streak, due to dismal June quarter results from giants like Infosys and Hindustan Unilever. Apart from the US, India is the most expensive market in the world amidst the rally of the last month. Thus some negative triggers lead to some corrections in the market,” said Riches Vanara, Technical and Derivatives Analyst, Stoxbox.
“Among Sector Indices the Nifty IT was the worst performer which contributed to the market decline. We expect some pull back in the coming sessions,” he added.
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