Indian equity benchmarks, Sensex and Nifty50, slumped in Friday's session as IT shares dropped sharply following dismal sales and top-line outlook from their global peer Accenture.
At the closing bell, the BSE Sensex closed points 608 lower (down 0.7%)
Meanwhile, the NSE Nifty closed 155 points lower (down 0.6%)
Bharti Airtel, Trent, and NTPC were the top gainers today.
Infosys, Tech Mahindra, and TCS, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 24,073 with 84 points higher at the time of writing.
The BSE 150 Midcap index is trading 0.2% higher, and the BSE 250 SmallCap index is trading 0.6% higher.
Sectoral indices were trading positively today, with the telecommunication sector and power sector witnessing buying. Meanwhile, stocks in the IT sector and the oil & gas sector witnessed selling pressure.
The rupee is trading at Rs 94.3 against the US$.
Gold prices for the latest contract on MCX are trading 1.2% lower at Rs 1,47.470 per 10 grams.
Meanwhile, silver prices were trading 1.4% lower at 2,34,176 per 1 kg.
3 reasons why Indian share markets are falling:
#1 IT Stocks Fall Sharply
IT stocks fell up to 8% after Accenture cut its revenue growth forecast and issued weaker guidance. This raised concerns about global demand for tech services. The Nifty IT index dropped 6.4%, its lowest level since April 2023.
#2 FII Selling
Foreign investors continued selling Indian equities, offloading over 1,000 crore in the latest session. This followed earlier selling trends seen through June, where FIIs remained net sellers. However, domestic institutional buying helped limit the market fall.
#3 West Asia Deal in Focus
US Vice President JD Vance postponed his visit to Switzerland for talks with Iranian officials due to logistical issues. The discussions are linked to ongoing efforts around a US-Iran understanding. Markets are watching these developments closely for geopolitical impact.
HCLTech launches Chennai AI Innovation Zone
HCLTech, a global technology leader, has announced the launch of an AI Innovation Zone in Chennai designed to help enterprises build, test, and move AI solutions into production. The facility focuses on accelerating the shift from experimentation to scalable, cost-efficient AI deployment using Intel-based technologies and HCLTech AI offerings.
Powered by Intel Xeon 6 processors with Intel Advanced Matrix Extensions (Intel AMX) and Intel Core™ Ultra, the zone highlights an integrated "AI Factory" approach that supports end-to-end AI development-from data center infrastructure to AI-enabled user devices.
The Innovation Zone enables hands-on exploration of enterprise AI solutions built on Intel Xeon architecture and showcases capabilities such as small language model (SLM) optimization and AI Platform-as-a-Service using Red Hat OpenShift and OpenShift AI. These tools are aimed at reducing complexity and making large-scale AI adoption easier for enterprises.
Key demonstrations include HCLTech's AI Force platform for GenAI-driven service transformation, VisionX 2.0 for vision and video analytics, and the AI Factory edge-to-cloud infrastructure platform. It also features real-world applications such as retrieval-augmented generation (RAG), Agentic AI notebooks, and cognitive AI use cases.
Amber Group Expands B2B Smartphone Manufacturing Role
Amber Group has signed a manufacturing partnership with OPPO Mobiles India Private Limited, which produces smartphones in India for OPPO, OnePlus, and Realme.
Under this deal, Amber Group will manufacture mobile phones for these brands in India. The partnership combines OPPO's global product design and expertise with Amber's strong manufacturing capacity, operations, and local supply chain strengths. It also aims to increase local value addition in India.
OPPO India has chosen Amber Group because of its ability to deliver large-scale production with consistent quality. For Amber, this partnership is an important step in expanding its manufacturing business and strengthening long-term growth.
Mr. Jasbir Singh, Executive Chairman & CEO of Amber Enterprises India Limited, said the collaboration highlights Amber's manufacturing strengths and its ability to support global brands with quality and scale.
The partnership is expected to improve efficiency for both companies and open up future opportunities for further collaboration. EY acted as the exclusive financial advisor, while AZB & Partners and Aekom Legal served as legal advisors.
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