Sensex and Nifty Slide Amid Profit-Taking: IT Stocks Hit Hard
Sensex and Nifty experienced a decline in early trading on Friday due to profit-taking following a strong rally. IT stocks, coupled with weak trends in Asian markets, contributed to the downturn. Despite some gains from select firms, overall market sentiment was downcast, reflecting broader regional weaknesses.
- Country:
- India
The benchmark indices Sensex and Nifty saw a downturn in early trading on Friday, attributed to profit-taking following Thursday's sharp market rally.
Selling pressure in IT stocks and weak Asian market performances further pushed the markets down. Specifically, the BSE Sensex dropped by 252.97 points to 82,277.77, while the NSE Nifty fell by 67.6 points to 24,994.50.
Among the major laggards were Bharti Airtel, IndusInd Bank, and State Bank of India. Despite this, some companies like NTPC and Bajaj Finance posted gains. Meanwhile, Asian markets showed mixed results, with most indices trading lower except for South Korea's Kospi.
(With inputs from agencies.)
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- Sensex
- Nifty
- IT stocks
- Asian markets
- BSE
- NSE
- profit-taking
- benchmark indices
- stock market
- FIIs
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