Infosys was the major loser, down over 2 per cent. Axis Bank, Wipro, Tech Mahindra, ICICI Bank and SBI were the other prominent losers
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.
Read More: Stocks to Watch: HCLTech, Infosys, Tata Motors, Paytm, Maruti, Religare, and Others
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.
Read More: Infosys announces interim dividend of Rs 18 per share — check record date and other details
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.
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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.
