Friday’s trading resulted in weak trends in the Benchmark equities on Sensex. Early trading showed that IT stocks dragged down the Nifty by several points. Among the prominent laggards were Wipro, HCL, TCL, Infosys, etc.
On the other hand, the gainers were industry leaders like Sun Pharma, ITC, Bharti Airtel, etc.
As per the Exchange Data, Thursday stocks experienced an offloading of the equities worth Rs. 1,826.97 Crore. This was evident from the actions of Foreign Institutional Investors.
Sensex Figures At A Glance
Thursday trading proved to be a winning situation for Wall Street. Moreover, Tokyo stocks also did brilliantly, as reflected in the Sensex positions.
However, the quotations of Hong Kong, Seoul, and Shanghai were facing a downfall in the Asian Market. Hence, investors are sceptical about investing in this segment for the time being.
The BSE Sensex showed 413.36 points for 30 shares, touching a high figure of approximately 72,223.83. On the other hand, NSE Nifty experienced a down of 86.8 points, touching around 21,925.15.
In the early trade, however, 2.85% was the average fall percentage for the BSE IT Index.
Forecasting By Experts
The revised forecast of industry giant Accenture indicated a slowdown in IT stocks. In the pre-opening market interview, The Senior VP of Mehta Equities Ltd. Stated this to the media. Surprisingly, the prediction came true. Prashanth Tapse, the Senior VP, also mentioned why such a prediction was evident.
Indeed, he opined like an expert and gave some suggestions for the betterment of the picture. Apart from Sensex, the exchange rate for one Barrel of crude oil declined by 0.71 percent globally. The final NSE Nifty figures touched 22,011, and the BSE Benchmark settled down at 72 642 after climbing by 0.75%.
