Sensex closes 182 points lower, Nifty below 24,800; IT stocks drag markets
Benchmark stock market indices closed lower on Friday, ending the week on a weak note as information technology (IT) stocks dragged the markets down with major firms declining up to 2%. The S&P BSE Sensex was down by 182 points to end at 81,451.01, while the NSE Nifty50 lost 82.90 points to close at 24,750.70. Vinod Nair, Head of Research, Geojit Investments Limited, said that a range-bound movement continued in the market, with the temporary reinstatement of US tariffs by the appeal court influencing investors to stay sidelined.advertisement
The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. Meanwhile, FII inflows continued due to the volatility in the US 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI," he added.
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