Infosys, HCLTech, Tech Mahindra drag indices; Sensex, Nifty drop 2% this week
Sensex and Nifty fell about 2% this week, erasing last week’s gains, led by a sharp 10% drop in the IT index—its steepest fall since March 2020—after weak earnings dragged Infosys, HCLTech and Tech Mahindra down 10–17%. Broader markets outperformed with midcaps and Bank Nifty declining less than 1%, while Nestle India gained 10%. On Friday, indices extended losses for a third session, with the Sensex down 983 points and Nifty below 23,900 amid broad-based selling and weak market breadth.
Sensex and Nifty fell about 2% this week, erasing last week’s gains, led by a sharp 10% drop in the IT index—its steepest fall since March 2020—after weak earnings dragged Infosys, HCLTech and Tech Mahindra down 10–17%. Broader markets outperformed with midcaps and Bank Nifty declining less than 1%, while Nestle India gained 10%. On Friday, indices extended losses for a third session, with the Sensex down 983 points and Nifty below 23,900 amid broad-based selling and weak market breadth.
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