India’s Sensex and Nifty 50 surrendered opening gains Friday, closing lower for a fourth consecutive session and extending a slide that has put September-quarter earnings in focus.
Moneycontrol reported that the Sensex finished at 73,123.83, down 125.56 points, or 0.17%. The Nifty 50 ended at 22,600, down 87.65 points, or 0.39%. It fell to 22,372 intraday before recovering some ground.
Thursday marked the third straight decline. Friday’s losses extended the run to four sessions.
The benchmarks had started higher. NDTV Profit reported that the Sensex opened at 73,665.64, up 416.25 points, or 0.57%, while the Nifty 50 began at 22,742.20, up 54.55 points, or 0.24%. The Nifty opening figure also appears in Financial Times historical index data, and Upstox’s Sensex data page lists the Sensex opening figure.
Technology stocks were among the early gainers. Upstox reported that Tata Consultancy Services (TCS), Infosys and HCL Technologies advanced early, while the Nifty IT index rose more than 2%. NDTV Profit’s opening snapshot showed the Nifty Smallcap 100 and Nifty Midcap 100 each down about 1%, with the Nifty IT index the only sector index higher.
That strength faded by the close. Moneycontrol reported that the Nifty IT index fell 85.75 points, or 0.27%, to 31,995.50, and that TCS and Infosys were among the Nifty 50’s declining stocks.
The previous day’s U.S. trading included steep losses for technology-heavy indexes. The Associated Press reported that the Nasdaq Composite fell 2.6% and the S&P 500 dropped 1.2%, while the Dow rose 11.89 points. The AP cited concerns about AI stocks and high interest rates. In a separate report, it said Brent crude settled 4% higher at $113.17 a barrel amid concern about the Iran war.
NDTV Profit reported that investors would focus on companies’ September-quarter earnings.
