According to reports, the benchmark indices Sensex and Nifty faced a decline in early trade on Friday, dragged down by selling pressure in IT stocks post TCS earnings announcement. Key highlights:
• BSE Sensex dropped 398.45 points to 82,791.83, Nifty declined 111.25 points to 25,244.
• TCS reported a 6% growth in June quarter net profit at ₹12,760 crore.
• Market experts suggest midcap IT companies may perform better amid challenges for large cap IT firms.
This development hints at ongoing struggles for IT firms in India’s economic landscape.
Source: Business News Today, Latest Finance News | The Hindu