Stock Market Updates: Sensex Down Over 400 pts, Nifty Below 19,700; Infosys Falls 3% – News18

Sensex Today: The Indian equity market opened with steep losses on Friday after IT majors – Infosys and HCL Technologies lowered their growth forecast for FY24. A spurt in US bond yields followed by weakness in global peers also weighed on the sentiment.

The S&P BSE Sensex opened nearly 500 points lower at 65,895, and was quoted around 66,100. The NSE Nifty 50 was seen testing the 19,700.

Infosys was the major loser, down over 2 per cent. Axis Bank, Wipro, Tech Mahindra, ICICI Bank and SBI were the other prominent losers. On the other hand, HCL Technologies gained 2.5 per cent.

Global Cues

Overnight, the US indices – Dow Jones, Nasdaq, the S&P 500 declined over 0.5 per cent each after inflation in the US rose slightly more than expected at 0.4 per cent on a month-on-month basis. This send the US 10-year Treasury yeilds surging to 4.73 per cent.

Further, markets in Asia too painted a negative picture. Hang Seng was down 1.6 per cent. Kospi, Taiwan, and Straites Times declined over 0.5 per cent each. Nikkei, however, was marginally in red.

Among commodities, Brent Crude Oil quoted around $86 per barrel after a volatile trade on Thursday. Gold was seen steady around $1,885 an ounce.