Sensex, Nifty Follow Global Peers Lower; IT Stocks Surge
(RTTNews) - Indian shares opened lower on Friday, mirroring weak cues from global markets amid Trump's tariff threats and expectations of fewer interest-rate cuts by the U.S. Federal Reserve in 2025.
The benchmark S&P/BSE Sensex was down 288 points, or 0.4 percent, at 77,331 in early trade while the broader NSE Nifty index dipped 104 points, or 0.4 percent, to 23,422.
Among the prominent decliners, NTPC, BEL, IndusInd Bank, Adani Enterprises and Shriram Finance fell 2-4 percent.
Mahanagar Gas dropped 1.2 percent despite securing 26 percent increase in domestic gas allocations.
Polyplex fell 2.3 percent after it announced a Rs 558 crore investment for setting up a new BOPET film plant.
Tata Elxsi plummeted 8 percent as Q3 results missed Street estimates. IREDA declined 2.5 percent despite the company reporting a 26.8 percent year-on-year growth in Q3 net profit.
Adani Wilmar plunged 9.4 percent on news that its founder will offload a 13.5 percent stake in the company through an Offer for sale.
GTPL Hathway tumbled 9 percent as Q3 net profit slumped 57 percent year-on-year.
TCS jumped 4 percent after the management guided for stronger growth in CY24 and FY26.
Peers Tech Mahindra, Infosys, Wipro and HCL Technologies climbed 1-2 percent.
Phoenix Mills advanced 1.6 percent after the realty firm reported strong growth in retail consumption for Q3 FY25 and the first nine months of FY25.
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