Mkts end lower amid IT sell-off, renewed geopolitical uncertainty

PTI

New Delhi

Stock market benchmark indices ended lower on Friday, snapping a five-day rally, with the Sensex declining 607 points and the Nifty falling to the 24,013.10 level, dragged by heavy selling in IT firms after global tech giant Accenture trimmed its full-year revenue growth guidance. Renewed geopolitical uncertainty over the postponement of talks to finalise a US-Iran peace deal in Switzerland also dampened investor sentiment.  

The 30-share BSE Sensex dropped 607.08 points, or 0.78%, to settle at 76,802.90. During the day, it tanked 940.26 points, or 1.21%, to 76,469.72. The 50-share NSE Nifty declined 154.90 points, or 0.64%, to end at 24,013.10. The Sensex had jumped 3,577.43 points, or 4.84%, in the last five trading sessions, while the Nifty climbed 1,006.4 points, or 4.34%. 

"Indian equity markets retreated after five consecutive sessions of gains, as investors booked profits amid renewed geopolitical uncertainty and sharp selling in IT stocks. Sentiment weakened following Accenture's cautious earnings outlook, while the postponement of scheduled US–Iran negotiations undermined expectations of a smooth progression in the broader peace process," Ponmudi R, CEO of online trading and wealth tech firm Enrich Money, said.